All Forum Posts by: Will Green

Heading out to look at a lot... Will return to check on posts! :)

@Forrest Holden

Hi, 

Since I'm starting out, I was thinking of selling one lot and using that money towards developing on the other, but I'm not too sure. I'm learning as I go. The one that is 13, 125 Sq. feet is a corner lot located on the intersection of veteran's memorial Dr and Elm street, with a view of the river. I acquired this lot as a bid at city hall. I know the person across the street is selling his land with river view at $3/sq. ft. but I am very open to reasonable offers. 

The other lot is at 2817 pecan street. I was thinking of putting a modular home on pecan street (I've already met with the city about codes) and holding this property as a low income rental or even selling and carrying the note. 

Any advice is highly appreciated! 

@Aaron Nelson

Hi Aaron, 

Thank you so much! I am actually in San Angelo a lot during the summer since this is my hometown. I'll be back around the 15th of this month. I have these two lots and looking to do something with them....I saw your a real estate broker and asked my brother (he does a lot of lawn work for real estate brokers) if he knew you. Do you know Phillip Green? He has a lawn service and he mentioned he has done work on several houses for a Mr. Nelson

I remember everything was over priced back then and there was a lack of housing that the school district sent us an email asking if we could rent out rooms for new teachers that were going to move for the 2012-2013 school year.I liked Midland a LOT better than Odessa. I taught at New Tech Odessa High School, now it's called George Bush High School, I think. It was near Odessa College (not too far if I remember). 

Yea San Angelo is a lot more reasonable than where I currently live (DFW area). I couldn't compete with the deep pocket investors out there. I actually had a lender approve me for up to 200k but it was FHA and all the fixer uppers were out of the question as they didn't meet FHA rules, and the 3/2s were highly desirable and went well over 200, so I wasn't able to get anything last year. That's why I'm looking to team up to learn or to invest and make some profits

@Robin Dassy

Hi, thanks for taking the time to reply. I've bought them in San Angelo. They're not too big, one is just over 5,000 sq. ft and the other is 13,125 square feet, but I got them at a low price... I noticed your from Midland. I was teaching out in Odessa back in 2011-2012. Is the oil industry still booming out there? It was insane when I was there!

I am looking to team up with someone in the DFW area who has experience in flipping, whole sale, or rentals. I am willing to help with any work necessary just to LEARN. No money, just knowledge and experience. I've bought two plots of land in West Texas, one as a tax resale and another as a bid at the city hall. I'm a high school teacher so I've got plenty of time during the summer!

I need to step up and learn so that I can take the next steps to invest on my own. Again, I'm just seeking to learn and am willing to trade work on properties to gain knowledge. 

@Russell Brazil

I agree, sir. I am focused on modular. My adviser may have been thinking manufactured. 

@Jim C. @Matthew Paul

Thank you guys so much. I was thinking my tax adviser may have been confusing modular vs manufactured. The city codes do not even allow me to put a manufactured home on my lot. Do you think the modular home will depreciate in the future(I've read that it does not, but I don't have any experience)?  

I bought a lot from the city (tax resale) and am considering putting a modular home, selling it, and carrying the note for the buyer (for sell by owner). My tax adviser told me that it was a depreciating investment and I should stay away from modular homes. Any advice? 

thank you guys for sharing. I'm so glad BP exists. So much to learn right here on BP, for free.