All Forum Posts by: Barclay Chan

@Indra Tanudjaja, what did you end up doing with the property? Did you refinance? If so, which bank allowed you to do it with investment property?

I assume your LLC and holding LLC is registered in California. What made you want to register it in California than the states your properties are in?

Hi BP,

I am looking for a Houston contractor and real estate agent or wholesaler that can help me find discounted properties so I can BRRRR. I am looking for multi or single family, C neighborhoods and higher, 500 year floodplain to no flood zone (if flooded, by Harvey only) and maximum purchase price of $150,000.

What percentage of the ARV should I be paying for properties that were flooded once by Harvey? I browsed around Zillow and it looks like some of these flooded properties do not look discounted.

I would like suggestions on what areas to buy. A friend of mine told me to buy on the west side of Houston in areas such as Katy, Cypress, Sugar Land, Richmond or up north at Katy because she thought those were pretty good working class neighborhoods.

@Mike Roddie how are you paying no more than 70% ARV? I am interested in buying flooded homes during Harvey but my agents keep on sending me homes that are flooded and it seems like after repair I am paying 90% of the ARV. Are you going through a wholesaler or an agent?

@Cody L. who did you use to find your deals? regular agent? wholesaler? and who do you use for property management? Where in Houston did you buy and did it flood during Harvey?

@Charles A., how are you getting these deals? Can you hook me up with your agent? Bought two SFH last year in Jacksonville and now I want to take it up a notch and BRRRR multi family.

 11% for new construction and 12% for the turnkey. Where was the turnkey you were trying to get?

 Yes that is what I meant, they do it while I fund it.

@Ali Boone since this post I've bought one turnkey property and a new construction in Jacksonville FL using 20% down. Both returning me a little over 17% cash on cash (did not include closing cost, vacancy and repairs into calculations). You have a lot of experience with turnkey, what states are you invested in? I am looking for my next deal and was wondering if you have any recommendation as to where and with who to invest?

I like turnkey but I feel like if I had the time to fly out and buy the house myself I can get it for much cheaper but then I will need to look for a team to rehab and manage it afterwards. Do you know of a team that helps buy distress property, rehab (and I get all the tax benefits) and manage it for me afterwards. If you know of any please send me their contact.

I closed one three months ago and closing one next week. You pretty much don't have anything to do with real wealth network as you will be communicating with the affiliates 99% of the time. Didnt run into any  major problems so it was pretty easy. I feel like I can get cheaper deals in that area if I actually did some research and flew out there but I am a busy guy and willing to pay market price.