All Forum Posts by: Sam Peterson

Does anyone have any suggestions for where to find templates for mailers and marketing?

@Daniel Hyman

Awesome. I went and spoke with a sales rep to find the best product for my needs. It’ll be a bit of a transition from numbers spreadsheets but I think it’ll all pay off in the end. I just need to spend some time to organize my business a bit better.

I have a house that we rent bunks to airline crew members on a month to month basis. We have a ton of expenses involved in our operations. I have learned that it may be beneficial to itemize everything carefully with quality bookkeeping. My question is: what software would be best for this type of operation? Does Quickbooks work well for this application?

Calling all NE Houston Real Estate folks in the Humble, Atascocita and Kingwood areas!

Come have a beer (or your favorite drink), get some food and network with other local Real Estate people. This is a great opportunity for new as well as seasoned Real Estate folks to network and build lasting relationships. People from all areas of Real Estate are encouraged to come regardless of experience level. Residential, Commercial, Wholesalers, Contractors, Flippers, Real Estate Agents/Brokers, Property Managers, Lenders, and Rental Property Owners.

We are meeting at Ingenious Brewery, 1986 S Houston Ave, Humble, TX 77396 on Thursday, 19 Aug.

What: NE Houston REI Meet-up

When: Aug 19th, 6:00 PM

Where: Ingenious Brewery, 1986 S Houston Ave, Humble, TX 77396

* There will be no product pitching at this meetup, it is simply an opportunity to provide value to investors and professionals looking to network.

* This is a great opportunity to bring deals on paper to others who would be interested.

-Please shoot me a text at (312) 618-3766 if you plan to attend, and if you plan to bring any friends so we can plan accordingly.

*No RSVP is necessary, but if you know for sure you're coming, mention it on this thread. It helps others see that you will be there.

* Please tag others for attention so no one misses this post!

Keywords: Houston, Harris County, Humble, Atascocita, Kingwood, Porter, New Caney

I look forward to seeing you all there!

@Kamlesh Kukreja

I'm in Humble and I'm looking to bounce ideas off a few people. I'm an investor with two cash producing homes and looking to shift my focus into BRRRR properties. I have several investors and I'm not sure I have the ability to move fast enough to utilize all of their purchasing power. I feel like I need to build my local network quickly and find deals. You say you'd like to create a group…. Im in if you'll have me.

@Darius Ogloza

I've already spoken with a lawyer and he gave me some advice on creating an LLC. There are so many things to consider when sharing the investing risks and rewards. I just want to be able to do my own research before moving forward so I can adequately explain multiple courses of action to all parties involved prior to sitting down to draw up legal documents.

@Darius Ogloza

Is there any literature on this topic? I feel like there could easily be a book on this.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $242,548

Airline Crash Pad with 18 beds available for a total potential for $4225 per month.

What made you interested in investing in this type of deal?

I have seen other crash pad operations and thought I could certainly do it better.

How did you find this deal and how did you negotiate it?

I called a realtor in Houston from an internet search. She picked me up from the airport. I brought a friend who had some knowledge of real estate investing and we walked through a few houses before this one screamed that it was the perfect house. My realtor linked me up with a lender and we applied for the VA loan for a 0 money down loan and we got into it for 3.875 APR, 30 year fixed for a total of $242, 548. I spent the summer furnishing the house, to include building bunk beds in my garage.

How did you finance this deal?

VA loan, 0% down, 3.875%, 30 year fixed.

How did you add value to the deal?

I filled the house with bunk beds and rented out beds on month to month to airline crew members.

What was the outcome?

We now have a Flight Attendant managing the house for us and keeping it clean and organized. We average 16 tenants a month. There is a lot of turnover but we are clearing roughly $1,000 per month above expenses on average.

Lessons learned? Challenges?

It's not a sustainable model and requires a lot of attention. The turnover rate requires effort to continue finding renters. It's a very unique investment in that I have to pay for all the utilities but the income is very good when the house is full.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My lender is a rock star. His name is David Richards in the Houston area. He finds solutions for your problems and doesn't say "no". He says, "let me get back to you". Also, Debra Osborn-Camino is my real estate agent and she has been very good at finding exactly what I have been looking for. She's a great listener and produces solutions.