All Forum Posts by: Tyler Austin

@Tyler Austin

Get the contract. If you have a contract on a property where the numbers work, you’ll have no trouble finding a buyer, especially in this market. On a good deal nobody will be trying to go around your back or wait out option periods because they know they will just lose out to someone else. If you have the contract recorded, typically the seller won’t have much option to get out (nor will they really care to) and you’ll be able to go ahead with the deal.

Not a wholesaler but wouldn't you have it under contract? That would give you some legal power.

You run this risk. Also assume you have to disclose an address... how else would you wholesale the property?

Are you licensed or not? 

There are some Facebook groups that post Austin rentals and sublets. 

@Tyler Austin I still have my FHA loan, even though it is rented out. There's a requirement with FHA that you must "intend to live in the house for 12 months". If you live there less than 12 months I believe the loan "could" be called in. My loan was at 3.75% for 30 years. At today's current interest rates, it will not pay for me to refinance. PITI would be higher than with my current MIP. But generally speaking, every area is different as to how long it will take you to get 20% equity, not to mention every deal. If you fix a place up, you're obviously more likely to gain equity quicker. And while I've heard most banks require at least 1 year of seasoning, I've also seen local banks refinancing in as little as 6 months. It pays to shop around when you believe you're close to that 20% equity mark. Run the numbers.