All Forum Posts by: Michelle Zarlengo

Welcome! Please add me to your buyers list, [email protected].

@Sheena Blankenagel I think I sent you a message with my contact info the other day. Please feel free to reach out so we can connect. DM is Direct Mail. 

I am hoping to connect with local investors in the Western Slope, Grand Junction Colorado area. I have sent out some DM and am hoping I can find a good partner in the area since we currently reside in Houston. Please contact me for if you are interested. 

Michelle 

24046 Spring Gum Drive, Spring Texas 77373

3 Bed 2 bath

1,782 sq.ft., built in 1983, Lot 6,000

Rents $1300-1350

Asking price $105,000

Very desirable area of Houston, in Spring, near the new Exxon campus. This is an excellent rental opportunity in the North Spring neighborhood. The kitchen was updated 2 years ago with tile back splash and custom cabinets. Tile and laminate flooring throughout and the screened in covered porch offers extra living space or storage for tenants. The foundation is sound. In order to be rent ready the property needs interior paint, one bath tub could use resurfacing and a few patches.

See photos here: Spring Gum Drive

House is occupied, please call for an appointment.

$3000 non-refundable deposit.

Contact Michelle Zarlengo with Monument House Buyers at 281-840-9208.

I am located in the NE area, I sent a colleague request. 

The successful investors have lines of students banging down their door. They do not have time to read posts in hopes of finding the next rock star because the rock stars are already there. If you are serious about finding a good mentor, not a guru who will take your $, then get out to networking events and meet the successful investors. Find someone you feel you can work with and do whatever it takes for them to take you on as a student. There are many posts on BP about how you can make yourself an appealing student. There are too "newbies" out there who want to learn the business from a successful person but not give back. This must be a win-win because there is no reason for a successful investor to take A LOT of time from his very busy business to help without building a great partnership. Your post states you are willing to put in the time to learn and that is a great start. I hope this helps you to become the a successful REI you want to be.

I still consider myself a newbie, I've been wholesaling since January 2015. I had quick success and closed 5 deals but am now dealing with the frustration of almost no good leads. I found a local mentor and there is no possible way I would have done as well as I did with out him. To answer your question, reading BP you will see everyone states the amount of deals is directly related to the money you spend on marketing. IMO it also depends on HOW you spend your money but for example you spend $1000 to get one deal and $20k to get 20 deals this is an average of course. You could spend 10k and not see any deals for 6 months then get all of your deals at once, which is sorta what happened to me. I spent $1500 and landed 5 in 90 days but now my dollars spent is averaging out since I haven't had more deals. That is why SO many people say you have to pick a budget, be consistent on marketing and stick to it for 6-12 months. You will always need to spend money on marketing to continue to get deals, so it's a balance. As far as the frustrations Bill talks about, yes I agree. There are a lot of moving parts and points for frustration that I wasn't prepared for. If I had not had a good mentor I would have given up. I tried to back out of a deal and it was my first and easiest deal to close with a $4,500 fee. Not everyone needs a mentor so you need to decide if you can stay motivated on your own and pick your budget and marketing effort. Good luck and don't get analysis paralysis.

We watched an auction on homesearch.com and put in an offer. In our experience they had a high unknown reserve. We also noticed ALL of the bids came in 20-30 minutes prior to the auction ending. The first auction ended without the reserve being met. The bank can decide to use homesearch again or not. In this case they did a second auction and the house went over the original asking price by a lot. We figured a 150k ARV with 40-50k in repairs. It sold for 181k. It was crazy and it seemed the first auction was just to see how much interest there was. Hope your experience is better than ours. Good luck.

On my one rental property, I avoid leases more than one year because as you stated they will probably stay anyway and as stated above there is no great benefit to you. I also believe if a they are a good tenant and need out of their lease, I will let them out early with paying reasonable expenses. Why lock yourself into a lease in case you need to get out for some reason, they will not extend the favor to you. 

Properties still available:

7403 Pine Green Lane, Pictures here

 20133 Misty Pines Drive,

18807 Timbers Drive,

Call Michelle Zarlengo at 281-840-9208