All Forum Posts by: Agustin C.

@Brandon Snow

It will vary from area to area so I suggest you tell us what area your in.

In the Austin-Dallas-Houston are we are seeing hard money lenders charge 8%+ rates and origination charges of 1-3%

@Kevin Wood

I have a borrower which I am helping with a mortgage who needs a VOR (Verification of rent). Pretty standard document for most mortgages. The property management company doesn’t have an office and doesn’t answer calls. I had to start being a google investigator and found additional numbers after calling and leaving VM with no response. Woodbaker Companies Owner: Kevin Wood He’s on here and is an active poster. I’m hoping he sees this post and helps resolve the issue. VOR are responsibility of property managers. If you are doing your own property management you should have a system to verify rent. The form is quite easy and I’ll post a picture below.

Great meet up. Please post a reply if you went so we can connect with each other.

I'll be there in 5 minutes 

I would consider cash flow as actual expenses minus income. Tax savings is just icing. I wouldn't take it into consideration when analyzing a deal. 

All that being said maybe you do a reverse cash out and keep it if you can afford the negative cash flow. Use the cash out to purchase more property. Or sell it and try and find a property that cash flows from the get go. 

Originally posted by @Chad Althaus:

Hey everyone, I'm in Northwest Houston as well and I'd be interested in meeting up! 

As for time and location (I know I'm jumping in to the conversation here), how about Jason's Deli by City Centre/ Memorial City Mall on April 19? 

 Not a bad meeting place. How does everyone feel about the time? 

Good luck with your campaign. Stick to your guns and don't buy anything you think is over the 70% rule. I would hate to see your first deal be a flop. The whole sale deals I see scare me as well. Once in a while you will find a flipper with a deal that makes sense. Until then wait until you start finding the diamonds in the rough.

Completely agree with the gentlemen above. Make sure you have a plan in place, that includes financing. Most hard money/ private lenders will base their final decision based on the deal. If it is a good deal they will have no problem financing it.