Here comes the new guy…

Houston, Texas
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Here comes the new guy…

Salim Howze
Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes

Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.

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V.G JasonPro Member
Investor · Member since 2022 · 3k+ posts · 3k+ votes
2y
Quote from @Salim Howze:

Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


 Why wouldn't you do that knowledge seeking prior? Just going in blind and crossing your fingers. Then telling folks you're a rookie?

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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 657 votes
    2y
    Quote from @Salim Howze:

    Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


    Do you have a construction team? A financial person to help you handle your books?

    Do you have a construction loan in place? If not, have you started inquiring about it from banks? I recommend using local banks.

    I have two clients in TX that are builders. Not sure how far away they are from Houston.

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Salim Howze

    Building duplexes on land can generate rental income and secure retirement. Follow steps like planning, financing, hiring contractors, managing property, marketing, refinancing, and working with advisors. Connect with local groups for mentorship.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
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  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    Hi Simon. Thank you for responding. Right now Im at the engineering phase and subdividing phase. I have one builder. He is the same builder that the architect has use to build several other homes. Funny thing about builders, they don’t want to invest that much time into you until you are ready to go the the permit phase. 
    the same bank that gave me the land loan is also prepared to give me the construction loan.  I think I’m on the right track but I’m not sure. I can’t get my budget in order because this one builder won’t give me an estimate until I’m ready to apply for permits.

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  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    Thank you Wale for responding. You are absolutely right, making local connections is a key factor as well as managing the finances. Of which I’m struggling with both but I’m getting there.

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  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    I would like to have more builders to choose from. So if you could reach out to them that would be much appreciated.

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  • Morgan Tondre
    NJ · Member since 2024 · 207 posts · 91 votes
    2y
    Quote from @Salim Howze:

    Thank you Wale for responding. You are absolutely right, making local connections is a key factor as well as managing the finances. Of which I’m struggling with both but I’m getting there.


    Hi Salim! There's a great local monthly meetup with Space City REI - here's their website but I'll tag you in their event Forum here on BP too! https://www.spacecityrei.com/

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  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    2y
    Quote from @Salim Howze:

    Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


     Why wouldn't you do that knowledge seeking prior? Just going in blind and crossing your fingers. Then telling folks you're a rookie?

    1Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y
    Quote from @V.G Jason:
    Quote from @Salim Howze:

    Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


     Why wouldn't you do that knowledge seeking prior? Just going in blind and crossing your fingers. Then telling folks you're a rookie?

    I’ve been reading and watching videos for months. I’m not going to really know anything until I do it.
    0Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    Thank you Morgan. I appreciate that.

    1Reply
  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    2y
    Quote from @Salim Howze:
    Quote from @V.G Jason:
    Quote from @Salim Howze:

    Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


     Why wouldn't you do that knowledge seeking prior? Just going in blind and crossing your fingers. Then telling folks you're a rookie?

    I’ve been reading and watching videos for months. I’m not going to really know anything until I do it.
    OK, so why "read and watch for months"?
    0Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y
    Quote from @V.G Jason:
    Quote from @Salim Howze:
    Quote from @V.G Jason:
    Quote from @Salim Howze:

    Greetings. I’m preparing for my retirement by becoming an a real estate investor. I’ve purchased land that I plan to build duplexes on. I sure could use some guidance along the way.


     Why wouldn't you do that knowledge seeking prior? Just going in blind and crossing your fingers. Then telling folks you're a rookie?

    I’ve been reading and watching videos for months. I’m not going to really know anything until I do it.
    OK, so why "read and watch for months"?

    0Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    Reading, videos, and courses so that I wouldn’t go in blind with my fingers crossed wishing for the best…

    0Reply
  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    2y
    Quote from @Salim Howze:

    Reading, videos, and courses so that I wouldn’t go in blind with my fingers crossed wishing for the best…


     But then you say, 

    "I’m not going to really know anything until I do it."


    I agree with your latter statement. I hope the process goes well, but let's not announce you're an amateur on a board full of sharks. You'll be bait, do you get that?

    0Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    I get that. Bait goes both ways. I welcome those with good intentions. I’m used to dealing with sharks in my career field. I may be a bit arrogant when it come to my ability in ready people and my “trust no one 100%” survival philosophy. I appreciate your time and comments.

    1Reply
  • Morgan Tondre
    NJ · Member since 2024 · 207 posts · 91 votes
    2y
    Quote from @Salim Howze:

    I get that. Bait goes both ways. I welcome those with good intentions. I’m used to dealing with sharks in my career field. I may be a bit arrogant when it come to my ability in ready people and my “trust no one 100%” survival philosophy. I appreciate your time and comments.


    Salim, don't let him get to you. He harrasses most newcomers to BP... we're more than happy to have new REI folks join in on the fun and success! Keep up the interest and research!

    1Reply
  • Salim Howze
    OP
    Homeowner · Houston Texas · Member since 2020 · 12 posts · 4 votes
    2y

    Haha. I see. He must have too much time on his hands. I appreciate it. Thank you.

    1Reply
  • John Mason
    Member since 2024 · 1k+ posts · 351 votes
    1y

    Welcome to Bigger Pockets ! You have come to the right place to begin your investing journey.

    Have you looked into attending local meetings and joining Facebook groups?

    Awesome board with many smart people having own suggestions and ideas to grow wealth!!

    I wish you all the best in your investing journey!

    0Reply
  • Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    1y

    Hey Salim! That sounds like an exciting venture! Duplexes can be a fantastic way to generate cash flow-just watch zoning laws, hire reliable contractors, and stay updated on rental trends. Wishing you Good Luck!

    [email protected]832-889-5607
    0Reply
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