All Forum Posts by: Chris Holmes

it's called walk away from this so called deal. With those numbers if correct, even $300K is too much to offer. I wouldn't waste anymore time on that. 

It's a numbers game. There's got to be better ones out there.

Good luck.,

hi Ronnie,

You know as well as I do that Austin is a hot market for sellers, but tough for buyers. Too many wannabes chasing too few deals. The MLS would be the last place I'd look for a juicy deal but they're out there somewhere.

You just have to look. A broker friend of mine bought a duplex for way below ARV. Didn't need a ton of work and he stands to make around $150k profit. He's listing it at $399k

Good luck in your endeavors. You're gonna find a bunch of people on here who will be interested in your services. I'm just going in another direction with investing. I'm not necessarily looking in Austin. 

Good luck. 

yes absolutely.. 

access to the MLS so you have first bite at all those juicy deals at 30% below market, I keep hearing about

I hope you also understand the drawbacks too. It's not all roses 

Yes, Squire, you might be right that I'm showing my IGNORANCE with regards to this LLC issue. And as my dear mother would say, "It takes one to know one"

So what do you mean by going "unprotected" If you think forming a LLC or a 'C' Corp is going to save you from lawsuits, then think again. I have a 'S' corp in another industry and despite me forming it RIGHT FROM THE BEGINNING, it had very little impact on my day to day operations and tax ramifications.

Asset protection is a whole different world, and it takes a lot more than forming a corporation, if you haven't figured that out already. It going to take money to set it all up, ASSUMING you have substantial assets to go after. Not just half baked FREE seminar from BP.

I work with very knowledgeable people, people that would say the exact same thing I've suggested. Maybe you sir, with respect, should gain a bit more knowledge before criticizing others. IMHO you have no idea what you are talking about.

nothing wrong with OPM if the interest rates are attractive. Then your cash is free to do other deals 

Have you made any $$$ yet. Is this a new venture? Sounds like you are just in the research stage.

If so, don't even worry about such issues until you have made some money. An LLC or similar entity is fine but if you haven't done any deals yet, then wait til you get your feet wet.

Good luck. 

sounds like a great place to INVEST. Max pessimism can provide great opportunities. Motivated sellers galore. Galveston is a great area, and probably misunderstood if you don't know the area.  Lots of $$$ folks down there. An old town rich in history, 

Thanks for the info. 

well it depends on what you offered. Expect a counter offer......then what? 

Welcome to the world of negotiation. 

You just hope you got your numbers correct. My take is that if they accept your offer, you may have have left money on the table and offered too much. It's not rocket science. Experience is a great teacher. 

Good luck. 

it's going to be interesting what they're going to do with this problem, seeing by all accounts they only have a years worth of water left.

You only have to look at water levels at lake Oroville to be shocked at how much has been drained.

Whether it will affect home prices, who knows. If Australia can weather the storm and keep things stable, then so can CA. They have been in dire straits for years.