All Forum Posts by: Shanequa J.

I was hesitant to go because I was tired and wanted to lay on the sofa watching TV. I'm glad I didn't. Doing things you don't want to do is what separates the wanna be's from the gonna be's.

I can't wait for the Kickstart training.

If a website ranks in the top 3 on Google, Yahoo, and Bing, does it make since to do PPC? The reason I ask is because the paid ads show up first so your #1 spot will be #6 on the site.

What has been your results with PPC then stopping PPC once you rank high?

Buying subject to and selling with a wrap is not illegal in Texas if the appropriate parties know about the terms. What they did was illegal because the sellers did not know the loan was going to stay in their name and the buyers did not know there was a mortgage on the house they were purchasing. 

You can sell a house with a wrap on the MLS. The legal way: Let sellers know the consequences of keeping the loan in their name. Close at a title company for buying and selling. Get a RMLO to qualify and/or write the loan for the buyer. I would make the monthly mortgage payments and the buyer would then pay me so I could ensure the seller's credit is safe.

@THU NGUYEN What criteria are you looking for in rentals (area, bedrooms, price, % ARV, etc)? I might be able to help you find them. I'm new to marketing in Houston, but I'm not new to real estate.

@Dean Cravy The loan is for 30 years. Since its 70% ARV, there isn't a downpayment. It'll be in my business's name.

@Fred Weiller I meant rent is between 1000 to 1100 a month.

I have a property I might buy. I thought the numbers sounded good, but when I put in the expenses and rent into the rental property calculator, it shows a negative cash flow.

Here are the numbers.

Purchase- 55k

Interest rate- 6%

Rent- 1 to 1100k

Taxes- 1600/yr

HOA- 40/month

Insurance- 400/yr

I accounted for a 10% cap rate, PM, and repairs. Vacancy is 8%.

If y'all don't mind sharing, what are some of y'all numbers? Does this look typical? I want to see if I should pass or buy.

I would have made the fake buyer/2nd wholesaler put down a nonrefundable EMD.

I wouldn't contract any property I couldn't afford to flip or hold myself.

You have to find the house yourself. Get ready to put in a lot of time, hear plenty of no's, and be outbid many times. 

Wholesalers out here don't follow the 70%ARV rule because the investors are willing to pay retail.

I got my first deal after 2 months of direct mail and haven't had one since. I was close at times, but the sellers would back out.

I hate following up because it feels like I'm bothering them, but I do it anyway.

Matt, I can't believe what investors are paying for houses. The numbers don't make sense the majority of the time. Competition is fierce.