All Forum Posts by: Brian Alfaro

Welcome to Houston!

Mark is a great source of information, so I'm sure he'll be able to share. 

If you type in Property Manager Houston in Google, you'll find a lot of them. The big dog here is Renter's Warehouse, but there are a lot of smaller ones. PM me if you want some contacts I've made in the PM space. 

As far as mentors go, maybe Mark can help. There are a ton of "gurus" running around, so they aren't hard to find. Depends on what your focus is and how much you want to spend. Free mentors involve building relationships with those already investing in the Houston area and bringing something of value to them. 

I am a licensed realtor and also an active investor, so feel free to reach out. There are 65k other Realtors in the Houston area, so you won't find your shortage of qualified people. Just make sure you vet them out and make sure they actually know what a good investment property looks like. There isn't any magic wand any realtor can wave to find you a "deal", but we can help you make offers on properties you have interest in on the MLS and provide you with valuable info to help determine whether it'd be a cash-flowing rental or not since you mentioned you want to BRRRR. I always recommend asking a realtor if they invest themselves during the vetting process or own any rentals. If the answer is no, they might be a great realtor, but they might not understand how to invest in real estate.

As Mark and I always recommend, get out there and network. You'll meet tons of great people at local networking events that can help you on your journey. Try to attend at least a couple a month. There's a big one next Wednesday evening at 6:00p if you can make it.

Finding deals in today's market here in Houston is TOUGH. Most of the stuff I see from even wholesalers don't work from a numbers standpoint - flips are profiting $5-10k and they're pitching rentals at 80-85+% of ARV. You really need to network with the good wholesalers that don't blast out every property they get to an email list. If they can discuss it with you first because they know you actually close, you'll get better deals. I know really experienced flippers here in Houston that are constantly flipping houses that can't find anything where the numbers work - that tells you how things are right now.

You were also correct with what you mentioned - going directly to the seller is your best option. That can be time consuming if you work a 9-5, so stay patient and look for value-add opportunities others missed on the MLS or that rare good deal from a wholesaler. Also, tell all your friends & family you want to invest in real estate and buy a fixer-upper (something they understand) - you never know who will come out and say they have one or know someone that has one. You sometimes find deals in places you aren't looking.

Agree with everyone else. I’ve spoken to a few builders to build on lots, and none of them are ever willing to discount their product because it’s an investment property. 

Hey Alex!

Any reason you wouldn’t use Hard Money on this one and bring less cash to close and pay contractors to rehab your property and be in and out of the loan into a 30 year fixed in a month or so? You’re spending more $ and doing more work by doing it yourself (unless you’re a contractor). 

Kevin,

Lease-To-Own is actually something that is highly regulated in Texas. I would recommend you speak to a real estate attorney about it first before you take any action. My understanding of it is you are only legally allowed to lease-to-own for up to six months before the buyer must execute the option. Therefore, they are often an avoided tool in Texas. Here's a website that explains the legality of it pretty well....

https://www.lonestarlandlaw.co...

@Joshua Thompson I'll PM You!

Welcome, @Joseph Weah!

Lots of great people and resources here on BP! Listen, Read, Network, and learn as much as you can! Then, take the leap!

Tear down quotes here I get are between $6-8k depending on the city and permitting. Could be closer to $10k in high end neighborhoods. 

@Tushar P.

Because some commission is better than no commission. I want the best price I can get for my client that will also satisfy the seller. What a Realtor wants is the deal to CLOSE. 

Hey @Bret Treadway! I'll send you a message to see if I can give you some guidance.