All Forum Posts by: David A.

I have several rentals, currently i self manage, But there is a chance i may be moving from SE Houston Area (Friendswood clear lake area) and wanted to see if anyone has had any experience with property managers around SE houston area. Good or bad feedback appreciated.

Welcome to the site. I am in your area. It's a great area for but and holds. I am always in the market so if you find any let me know. Or if you have any questions feel free to message me as I am always willing to network. Read on here a lot but also don't be afraid to get your feet wet by looking at even Mls homes and see them and work on your value and estimating repairs etc...

Look forward to hearing others response to this as well.

Originally posted by Sam Craven:

I work with a lender in Houston that will refi me immediately after purchase up to 75% of the purchase price. The good lenders are out there but their names aren't BoA, Wells Fargo ect.

yes the big banks shy away from this look local.

What's is your reasoning for forming an LLC If you guys will be self financing (using personal credit). As by doing this my understanding is the LLC has no protection, u are mixing personal and business. I could be wrong and your lawyer can give u clarification.

I deal in houston but south part your rent seems about righ for price of home. The main concern is insurance. In southeast houston the insurance would run more like 200 a month or more.

Also your closing costs are low for cash or for financed. For cash I factor 800-1000 for financed 2000-3000 closing costs.

are you living rent free? as in the rent from the other part of the duplex pays your note and taxes etc... if they is the case you are cash flowing just not excess as you are leaving in a place for "free" the real question is what cash flow would be created if you didn't live in it?

houston is a place of somewhat affordable housing and a great place to invest. As with anything do your research and make sure the numbers work. as nothing like acquiring a deal thinking you are getting a good deal only to find out you got a lemon.

welcome to BP with you best of success. Houston is a great area to invest in!

Originally posted by Clayton Pannasch:

Yeah, that's true to a point, but look at it from my side too - if I was to blindly start tieing up properties to close in 60 days, and I didn't have a solid list of buyers to pitch the deal to, that, to me is an idiot move.

What I'm asking is, how to find these cash buyers and get their criteria on the properties THEY want to buy.... the beds, baths, dollar amounts, zip codes, everything, so I can tie up properties that match their needs... not start the other way around, tie up properties then scramble to find buyers.

If you are truly tieing up a "good" deal then you will find a buyer in no time. even posting on here will help your to get a buyer quickly. They key is making sure the home you are putting contract on is a good deal. being someone that does cash deals I know when a deal is good i have to move fast before another buyer gets it quick. While it is great you are thinking ahead the reverse sucks as well I have dropped of many lists because these supposed guru wholesaler will have great deals when in fact i have found better deals thru MLS (not knocking all wholesalers some are GREAT) But if you have a product people want at a Good to great price buyers will flock. just make it know what you have.