All Forum Posts by: William E.

personally i start out by checking every property that i am thinking about buying to make sure it doesn't fall into the 100 year floodplain.

http://www.harriscountyfemt.org/

add something like this to the lease (seek actual attorney for proper text)

Damage by Fire/Flood/Natural causes. In the event that the building is damaged by fire/flood/Natural causes and through no fault of the tenant, and cannot be restored within a reasonable time in the opinion of the Landlord, this lease shall terminate with no further liability of either party.

this was slightly modified from here

https://www.biggerpockets.com/forums/52/topics/820...

there is also an example of flood experience in the above post.

Welcome to the party, 

i started out looking in the heights many years ago and realized i needed more money. :)

check out this podcast https://www.biggerpockets.com/renewsblog/2016/03/2...

he buys in the heights.

start here 

http://www.houston.org/economy/

welcome to the party, I tend to avoid the northern side of Houston, so you're safe from my reach :)

Houston is a tough market, there are a lot of us out here. Some with many more connections than others. I have a handful of realtors and wholesalers out there trying to find me deals and they get scooped up before i can throw my money at them.

you need to go 'driving for dollars' and try to find something that hasn't been snatched up. 

built in excel function

=impt()

https://support.office.com/en-us/article/IPMT-func...

based on your numbers you're getting less than $100 a door per month. 

my opinion is you can find a better rental in your new location. land lording from a distance creates extra expenses that you probably don't want to deal with at this point in your investing career.

Find a better duplex/triplex/5plex.. 

a 1031 exchange would be optimal assuming you can 'identify' a house within the 45 day after your selling this duplex. and have it closed within 180 days. after all no one wants to pay capital gains taxes.

happy hunting.

welcome to the party, 

you've taken the first step, dont' stop moving forward.

i had a realtor approach me last week about a 'pre-forclosure' property, unfortunately the owner was upside down and i couldn't help, but they are out there. finding motivated sellers is how you make it in this business. many go to listsource.com to get a list for direct mail. We're all looking for them. :)

alternatives are hubzu.com or Auction.com 

or goto craigslist and search for "motivated sellers/preforeclosures."

you can look at the banks sites as well Bank of America for example - http://foreclosures.bankofamerica.com/view_propert...

put this into google and you'll find a few responses.

"hard money lender on foreclosure auction site:www.biggerpockets.com"

I've purchased a house at a sheriff's auction with my own money, and never thought to do the hard money route. From what i see is that it is possible if you have some report' with the HML provider.

good luck, and let us know if it works out for you.  i'm curious myself.