All Forum Posts by: Ayman Elmasik

All big-ticket items are working, the property was flooded (about 3” per owner) in Harvey 2017 and was

re mediated immediately, 4’ of sheet rock are already removed.

and experienced GC can rehab this deal for 30K (I can already recommend one for you).

email me and I will send you the brochure and recent photos

2K non refundable earnest money locks the deal (must be able to close before Oct. 15th 207) cash or hard money only.

[email protected]

281-928-8385

Hello, just to add to all the great inputs above, if a house was valued (ARV) to 250K before it was flooded, how would you calculate the ARV after the flood and after it is being repaired (assuming it will go back to exactly how it looked before the flood)?

Is there a magical number to go by?

Cheers,

Thank you all so much for the advise.

Hello landlords,

I have a rental property in Houston Texas and tenant is giving me really hard time for paying the rent almost every month (he paid all rents so far). he is always late in the payment by 2-10 days. in my contract I should charge him $50/day for late rent. he paid the late fees only once.

Need to mention that the house is not in a very attractive rental area and it took me 6 months to rent it.

1- Should I start an eviction process based on the fact that he is not paying the late rent fees, knowing that I might be stuck with it empty for another 6 month.

2- can all these late fees be deducted from his deposit at the end of the contract?

Thanks for the help in advance,

Ayman 

@Andrew Postell thank you so much for very clear answer.

@Andrew Postell,  I'm investing in Houston Texas and wanted to know how can one pull 80% of the equity in an investment property. do I have to buy it cash then season it? what if I use private lending to do the purchase will I still be able to pull the 80%

1. @Trevor Mauch  if I want to start whole-selling using inbound traffic, what is more important PPC or SEO? in other words where should I spend my money first?

@Brent Coombs you are right I did no figure that early on, I should've started my refi with a lender who can do 80% based on appraisal but like I said I'm a newbie here who is still finding his way.

@Tyler Hodgson, thanks for the response I'm sure fine with working with someone who is not in Houston.

Please find my response to your questions below

1- the property was refinanced (closing date) on 27-May-2016, I don't think the value have changed much since then.

2- I don't think I will meet this condition 

3- I can try to rent it now and wait for the required 6 month period.

Last thing, this is an investment property.

I think this is easier clarified on a phone call, I'll PM you.

Regards,

Ayman 

@Peter Mckernan the market as a whole seems to be fine in the sector for houses that are around the median prices (up to 250K). this house is in an area which was flooded in 2015 so the whole are now have this stigma that makes the houses stay long in the market.

I think if I keep this house for another 2-3 years as a rental it will be still a winning deal as a whole but I want to free as much cash I can from it so I can use it in other deals.