All Forum Posts by: Wale Lawal

I am following this post.

@Dante Peduzzi Like others have said, I won't buy this property. 

I will rather leverage the down-payment of a $440,000 on 3 different properties in a decent school district.

I am closing on a 3bed/2bath new construction for Long Term Rental soon and the purchase price is $176,000 with a monthly mortgage of $1405 (15-years Mortgage) and it will rent for $1550 so you can see that this number is tight. 

I I will have a better cash-flow if I do 30-years loan but the goal is to use this rental property to fund my 3-years old daughter college fund so that by the time she's 18 and getting ready for college this property will be paid off and at least double the purchase price. 

I have also helped 4 of my Investor Clients acquire same property directly from the builder

New Construction make sense for a lot of reasons we all know BUT at what cost? 

Focus on properties under $200,000 and you will be fine.

Reachout if you need help.

Goodluck

Thanks for sharing @Lee Hampton

@Russell Walsh Great mindset you already have. Focus on learning all the basics first.

Also, Identify a successful local-investor agent and find way to add value to that agent. You will learn alot by that 1 action.

Goodluck and go and be a great Investor-Agent.

@Rudy Hernandez I can recommend. Send me a DM.

@Jennifer Gill Well things has changed drastically from march 2020. 

I'm glad you bought one last year.

Since you want to stay in Montgomery County, look into Conroe with your Realtor. 

I'm closing on a New Construction in a New Subdivision in Conroe by the end of the month for $176,000. I have also helped 4 of my Investor Clients acquire same property directly from the builder. 

So Conroe may be your best option. 

Goodluck.

@Sakib J. 

Yes I have experienced significant increase in my properties assessed value and this mean I will be paying more taxes. 

I am currently challenging the assessed value through a well known property tax consulting company in Houston. I don't pay them except they are able to get the assessed amount reduced. 

Their fee is calculated as Amount they reduced your property by X your tax rate X 0.45. 

For example if they reduce your property assessed value from by $20,000 at 0.025 tax rate: 

$20,000 x 0.025 x 0.45 =  $225 

This is not a bad deal for me if they deliver as promised. 

Goodluck to everyone.

Interesting read. @Deo Sanders have you been able to find something?

I currently have a 4plex under contract. I can give you some pointers if you are interested.

Send me a DM.

Goodluck.

@Amir H. Chavoshi Firstly, I will suggest you get some Real Estate Wholesaling Training. There are alot of FREE Wholesale Trainings on YouTube.

Regarding either to start in Houston or not, I will say it depends on the kind of buyers you are targeting. 

$150k purchase price is still good for some buyers.

Goodluck

@Haley Araki So sorry about your past experience. 

There are great agents and there are some not so good agents. 

Below are few things you need to consider asking and negotiate:

1. Based on the net-sheet and supporting data, which one are you for comfortable with?

2. Who has the best Communication style, Marketing Strategies, Local Market Experience?

3. Get recommendation from anyone you know but still vet the agent yourself.

4. You can negotiate the commission to 4% (2% for your listing agent and 2% for the buyer agent).

5. Ask the agents to provide the phone number of their clients so you can find out about their personal experience with the agent.

6. Check their online reviews on HAR.com, Zillow, Realtor.com, RateMyAgent.com etc.

7. Cheap does not mean the best so weight your options carefully and go with the best.

Below article gave you some sample questions to ask your Potential Listing Agents or Companies.

https://www.homelight.com/blog...

Goodluck