All Forum Posts by: Caressa T.

Hey @Frank Oceguera, welcome to BP! 

I am also in Houston on the northwest side. Feel free to connect! 

Thank you @Matthew Bond:)! You are awesome! Exactly what I needed. 

I definitely think I am overthinking this 'simple' process, however how does the seller receives his profit? Is his profit included in the sale price?

Thank you @Chaz Reid! 

I agree with you.. I will get a contractor out this week to take a look at the property. 

Hello everyone!

Here is an email I received after speaking with the homeowner over the phone today. He is relocating due to work and does not want to work with an agent.

"Only two options would work for me:

A) 100% cash at the time of closing-within few weeks up to 60 days max - provided some active conversations going on.

B) I will continue to be the landlord - getting market rent - will pay for services whichever applicable for managing property, collecting rent, etc. Along with the pending intent to sell 24 months from now (lease option)"

I was originally looking at this as a wholesale/lease option...

My questions: Can he still be a middle person in any way acting as the landlord for the property if we move forward with a lease option?

Should this be a wholesale deal instead? He does want a profit...

Here's the numbers:

ARV: $122-133k

Repairs: $10k (according to owner its cosmetic and external freshen up..sounds a bit much)

Mortgage: $42k (approx.)

His pocket $: $20 - $50k ($30k would be more ideal..his words)

Assign fee: $10k

Thank you in advance!!!

@Rusty Glines

Once you find a property and put it under contract then it is up to you and your partner to find a buyer. And yes, you are looking for a cash buyer, with proof of funds. Have you tried searching for buyers? Of course you can purchase the property yourself. 

I am guessing your friend was trying to do some type of financing? 

Hey @Armando B. ! Welcome to BP!

You will find amazing information here just from searching the forums, reading the blogs and listening to the podcast. I am also from the NW area of Houston, and I most definitely agree with @Michael Ran on some of the 'hot spots' in the Houston area. However there are gems everywhere. 

I wish you the best and hopefully you found your niche soon and begin investing!

Thank you for sharing. I am SURE it wasn't easy, as no one wants to "lose" 7K on any deal. Although each deal has its' own circumstances, you've definitely made me check to be sure I have my ducks in a row, as best I can. @Larmon Cummings Jr 

Hey @Nick Deshotels !

I am working on this myself however, I found  this thread and this blog post by Ben Grise that has helped me along the way. Hope this helps! 

Ah, okay! Thank you for clarifying.