All Forum Posts by: Account Closed

Just like the red paperclip story,congrats on your path!

No comments on this specific issue but reading your line : The neighborhood is now trendy and property values have skyrocketed and will continue to do so I imagine.

Its easy to believe there will also be future growth and then the market shifts, neighborhood etc.  Sometimes booking a good profit or sale while people are paying a premium is a good choice especially if you feel the market fundamentals are overvalued. 

Good luck. 

I didn't read the replies, crap happens, you will be ripped off, cheated, stolen from.  Move past it, get the next deal close, make some money. 

People who do these shenanigans aren't going to be around for the long haul. Find deals with better spreads, close them yourself and skip this whole process . 

Good luck . 

I didn't read all the comments but your success is your vendor's success.  Pay anyone you work with well.  Overpay them. Let them know you appreciate  them and their service.  Be easy to work with , refer them so they get more business. Help them any way you can. 

Use this formula and you will have the best team who will also recognize that your success will be their success. 

There is definitely great value on a good realtor (also commercial brokers)  , i will not argue that point.  Some of them though sometimes just act as a barricade to trying to get things together. But sometimes.... it can be really frustrating , where they care about the money and not their actual clients best interest .   That goes with a lot of professions but  i perhaps should have left the comment off.  Some people earn  their money like no other!

 
:) :) :) :)  :) :) :) 

@Joan Martinez  Sometimes don't get hung up on listening to agents (though in truth i don't know as i haven't looked at duplexes for a while.. ) but if they were crushing it as investors, well they might not have time for being an agent.....  ( ok not entirely true -plus i can get beat up on BP with those words)   :) : )  :) 

@Joan Martinez Ha!  Im just a small fry compared to some of the heavy hitters on BP!  The Houston market is , i feel, such a wonderful place to invest with future prospects if you are doing the right strategy and right asset class!   RICH is great because they have a bunch of different things you can learn about there and get vast exposure.  Theres a lot of groups that sell stuff so just make sure you know anyones motives that you are meeting with

Zigging when everyone else is zagging.  Sometimes being on the other side of the coin is not bad thing....

 When I bought our first deal in 2008 , it was on loop net and we got the contract for about 20% less than asking price.  Where were all the guys who are in bidding wars on multi family  (today)when little old me (newbie at that ..) from 1,000 miles away was trying to buy this thing?  Upon asset exit we had 5 offers before it was even on the market ( note i was a seller when more people were buyers in 2016)- note the one we took was 100k down hard day 1..... ( i wish i had cajones to do that...)

Another one:

Market being hammered ( in general) 2011- bought a townhouse 60ish ( later to be sold for 120ish in 2016.  Had another one under contract at 30 k a couple months later but got cold feet that i was overpaying ( later was sold for about 100k).  Note  lots of buyers upon sale  - not so much when I was buying. 

Got into MHPs in 2013 and they weren't super sexy, still aren't but sexier i guess now... so thats what I'm doing.

I have thought about this, and going against the grain in investing , I feel has served me well.  I feel like I can get outsized returns but just picking the few that I see what Im looking for.

When you pay for a pre packaged return ( think turnkey 10% , think investment in a syndicate 8% ( 20%IRR) ) - that good feeling comes with a cost of return.

Most the stuff I do , i have to look at it through a different lens.  I have to see what others might not see on the surface.  I want to try and get the returns into the 100s of percents , not 15%  not 20%.   If i went conventional routes that wont be the case, say buying a 150k house that rents for 1500.  I focus a lot more on the deals and the spreads  as opposed to volume and really want to seek out those anomalies ( or what I feel are anomalies.  Meaning i give a lot of thought to where I think the market might be undervalued or overvalued and invest accordingly. (note i might be wrong but i try and built in spreads that account for a lot of error and the occasional misjudgment) . 

@Joan Martinez welcome.  Check out the RICH club in Houston!