All Forum Posts by: Cameron Tope

@Scott HeimanWelcome to Houston. Like you, 3 years ago I moved to Houston for work in the energy corridor. I had the same strategy; buy (house hack) then rent afterwards.

I chose Katy because it is close to work and I found a decent deal on a house. I don't think you can go wrong with Katy, Cypress or Sugarland (I have done deals in Katy and Cypress). They are popular areas. Having said that people are overpaying for homes because of their popularity. Therefore, I would keep the old adage in mind, "you make your money when you buy."

Your below 300k budget will get you a nice home in all three areas. 

When you get to Houston don't be a stranger. If there's anything I can do to help feel free to PM me. 

@James NguyenKaty does have great schools. People move from all over Houston just for Katy ISD, however the taxes aren't cheap all across Katy, it depends where you are. I have a property with a 3.5% tax rate and another at 1%, just need to do your homework. 

All the best,

Cameron

Any short sale specialists that are licensed in Pennsylvania? I have a lead...

@Jordan Decuir Let me know if you or anyone else focusing in the Katy area would like to chat. I will be at the meetup but feel free to PM me. 

I'm a Katy investor. 

Looking forward to meeting you all soon. 

Cam

@Darin Guidry like all professions there are honest and dishonest people, real estate is no different. There are both good and bad mentor programs and education. Go to a few networking events and chat with the people that are actually buying real estate (or whatever you want to do in real estate). You will hear first hand what programs worked and what programs to avoid. 

I'm also an investor in Katy. You can PM me and we can always have a chat over a coffee or lunch. 

Best of luck! 

Cam

@Lenna Groudan please let me know if you find a reliable RMLO. 

Best of luck! 

Find their problem. If it truly is taxes then owner financing will most likely have the lowest tax consequence for them.

What are they asking for the property?

@Nate Burnett I tried the same strategy with my primary residence. I put 3.5% and my plan was to fix it up and refi out. However, the fees associated with FHA and refinancing made it more costly than I suspected. I purchased for 189k and the fees with FHA were ~10k and the refi fees were about 10k too.

Ensure you are factoring these costs into your calculations. 

Good luck!

@Jack Shea What do you mean discount them in the future? After a few years offer them 70 cents on the dollar on the remaining balance?

Had the same thing happen to me. Called the tow company and they handled everything free of charge. 

PM me. I may be able to help.