All Forum Posts by: Alex J.

Maybe a hard money loan but the points and rate will be pretty bad relative to the HELOC

i use FCCU they are great.   stephanie alba helped me out in the past, they are a good group

Yes many can say that ...my hs econ teacher back in 1999 would tell us how stupid his brother was and how he even did an adult film because that's the type of low life.  He was the example of what not to do in life...well his jerk off brother decided to take his 50k of family inheritance and put it all into apple stock.

My econ teacher all year told us how stupid his brother was for doing this and diversification is how to invest etc.  

Well that 50k is worth 2,500,000 now and guess whos the professional jerk off for a living now, that's right folks my old econ teacher.  The point I'm making is that you can be inept and lucky but there were plenty who had money and are "so smart" that same time and did not invest and return that same amount.  Without action there is no luck.  

I have mentioned a few times that I have a duplex for sale for around 155k in the Stafford area which is a blue collar area in Houston feel free to msg me for info

I agree with you.  that was my point in saying it's not a big deal because every home has that issue...you get it fixed with lifetime warranty and you'll find a buyer... whereas in Los Angeles if you get foundation damage it's a very big deal.  That's all I mean by that.

@Vicki Chu

the meadows place is right in stafford, same zipcode... id say its a C class neighborhood section 8 tenants are not uncommon... but in all honestly ive found tenants to be fine.  A lot of working families in the area, its a central location, lot of multi families, no hoa.  its all about how you setup your systems and manage relationships like everything else.

ive had high end rentals, mid end rentals, and low end rentals between houston and los angeles... each one comes with their own pros and cons so it comes down to what your personal comfort level is

Sugarland is a nice area but what we have found is you dont really get much uplift for buying a property that needs rehab, doing the work, and getting a premium for it... so in essence the "fixers" are the same as the "fixed" for the most part when it comes to price....its very weird.  

i think its because the schools are just so good in areas like first colony settlers way commonwealth etc that everybody wants a house to just avoid private school cost and have equity in their place.  rents are like around or under $1sqft per month  so you are very much breaking even or even a slight loss every month there for the hope of appreciation.  if you do a 15 yr mortgage at least you build equity but you will be negative on cashflow every month - but you will have a better quality tenant in theory...but always need to do a background check and get deposits etc.  a lot of the 200-300k priced homes are from the 70s 80s so if there hasnt been a fresh rehab done you might have things like settling (not a real big deal in houston), maybe some dated electric, floors might need replacement etc... cosmetic things, but generally not in bad condition and wont break the bank

for cash flow rentals in lower B to C neighborhoods look to stafford, meadows, missouri city, those areas are all generally good rental areas... ive mentioned before i have a duplex in the area myself, great for cashflow 

ive used fccu credit union before good experience there

I have a duplex for sale in Stafford for 154,800 obo its a suburb of Houston 77477 zip feel free to look up the details I can give you the rent roll and data if you are interested. I'm rolling my cash to development in Los Angeles or else I'd rather not sell as it cash flows about 600 a month after all cost

I have a duplex for sale in Stafford for 154,800 obo its a suburb of Houston 77477 zip feel free to look up the details I can give you the rent roll and data if you are interested.  I'm rolling my cash to development in Los Angeles or else I'd rather not sell as it cash flows about 600 a month after all cost