All Forum Posts by: Mitchell Benson

is this still available?

just sent a request in

Look up the real acquisitions & Jet Lending meet ups

If you need a local person who knows the market to help feel free to reach out. I'm not a realtor, or property manager or do i sell any services for investors like yourself. If you want some advice or insight about the area feel free to message me and we can talk.

Otherwise, there is a huge market that resides inside the loop. West side of town is good even outside the loop. pasadena, Katy, Spring, & Tomball are good places to find rentals also.

Good luck!

Very general question but sounds like you are looking for a high end rental at 200-300k

At that price point it's a little more difficult to get good cash flow. Try using the bigger pockets calculator on a "hypothetical house" you are looking into 👍

First off, if you do not know what you are doing and do not have a plan, you can "blow it" in real estate also, that money can disappear quick! I would learn as much as you can to the point where you are 100% confident in your deal. that being said, give yourself a strict time frame, set those goals and get to your first deal.

BP has the "path to purchase" which may help you... Since you are in LA, California you may want to pick a specific city, study that city and call realtors, analyze deals on a daily or weekly basis.

I would use part of the 30k for down payment + rehab costs + 3-6month of holding costs in case you don't get a tenant quickly. 

Maybe try First Financial Bank in Conroe

If i have to do a 30 min analysis on a property for it to make sense it's not a deal for me. If doesn't look good on a napkin I'd walk. That being said there are properties that may have an issue with its income or expenses that the owner doesn't want to deal with hence giving you the opportunity to raise the ' cap rate' immediately after the purchase. So the 5% cap turns to a 8%. And another thing is the cap rates advertised are almost always a little off anyways.

@Mike Landry What makes it even more difficult is the amount of new investors buying rentals that just don't make sense. A fixer upper @ 155k with 25k in repairs with a $1250 rental rate is not a good buy. and most of those homes are 30+ years old. I think making adjustments to this kind of market is the time to make money for builders, flippers and wholesaling. If I had a few SFR rentals i would think twice about selling off the bad lemons

Jerel Ehlert II

Real Estate Attorny 

Specialists in RE