All Forum Posts by: Monte Blackwell

My contracts state that Landlord has the right to charge a service fee for every trip out to the unit. (To the tune of $90.00) Put on your seat belt folks, magic will happen. They will magically never call you for stupid and unnecessary events. Mike drop, lol.

Here you go. This an awesome program that I've looked at but didn't pull the trigger on it for various reasons. Talk to Allan and tell him the Monte the crazy guy from Texas gave you the info. Give it chance and go through the demo and I pretty sure your going to need this. It has some amazing benefits and no I have no monetary gain in this at all. Just trying to help. Best of luck. 

His name is Allan Drum 

https://www.accu-build.com/?gclid=EAIaIQobChMIo_uI5qOw4gIVCdbACh3uVgR3EAAYASAAEgLM6_D_BwE

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $165,000
Cash invested: $11,000

Closed on a duplex. Clash flows around 300/month. Cap rate is low but it's almost impossible to find something right now with anything more than a 4% CAP. NEXT!!!

What made you interested in investing in this type of deal?

Building my retirement. I like multiplex's more than I care about single family homes.

How did you find this deal and how did you negotiate it?

Realtor

How did you finance this deal?

Conventional lending. FHA 3.5% down. 4.8% interest. 30yr

How did you add value to the deal?

This deal is almost a complete turnkey.

What was the outcome?

Closed and funded.

I'm looking at this setup. It tracks all the numbers you and I are looking for. Here's the link. 

https://www.houseflippingspreadsheet.com/hfs6-sale-expired.html

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $9,000

70's 3/2/2 in a great neighborhood. I bought this house for $87 per sq ft. I completely gutted the house, re-tiled, re-painted, pulled up carpet, pushed up the ceilings. Landscaped completely and presently should sell for roughly $100 per sq/ft.

What made you interested in investing in this type of deal?

I got an offer on my house so I figured I would house hack this deal.

How did you find this deal and how did you negotiate it?

I actually found this one on the market. It was being marketed by a Realtor.

How did you finance this deal?

I actually ran into a 1031 exchange issue on this deal. I had to finance as investment to avoid capital gains tax.

How did you add value to the deal?

Landscaped, re-painted, bull nosed all the corners, removed old popcorn acoustic, pushed up low ceilings, opened up the Kitchen and dining area.

My tenants pay through Venmo. It's not fancy but effective and free to me.  When my tenant pays it hits my phone and I transfer to the bank from my phone. 

Hey Rene, welcome.  I've been a landlord in McAllen for over 25 years and am familiar with property here.  The money that sellers are asking for town homes and -4 plexes are stupid high right now.  I've been sitting and waiting like a lion in the bush for over 2 years and the only deal that was worth anything was snatched up right away probably by a friend or family of the real estate broker. Don't get me wrong, there is property out here on the market but none if you plan on making any type of return on your money.  The prices here in McAllen in particular are getting higher and higher by the month.  You really need to be watching the area market everyday for something to pop up and be ready to bust a move.  The more readily available properties right now are commercial but that is a very different ball game and I wouldn't recommend that to someone like yourself just yet. There is a saturation here when it comes to apartments and I am not a big proponent for home rentals.  I realize how this might be a big negative for you but I tend to be realist.  I'm giving you the down and dirty and not filling you with a bunch of BS.  Your more than welcome to get in contact with me and I'll do what anything I can for you. 

 I just had my assistant ask for some help on setting up our first tenant on cozy and the answer was to look it up at FAQ.  That is our experience with cozy.  I'm less than impressed and can't imagine showing that kind of customer service with anything I was trying to expand or grow.  

I'm looking to re-fi  my 4plex in south Texas.  McAllen specifically.  Conventional lending is not doable right now.  I thought I would just throw this out there and see if anyone might be interested.  I've had %100 occupancy for the last 8 years.  

@howardmanning

Never would of thought to do that. I couldn't see the forest for the trees.