All Forum Posts by: Celine Liu
Celine Liu has started 3 posts and replied 8 times.
Post: Houston Real Estate Lawyer Recommendation
- Houston
- Posts 8
- Votes 2
Hi Jason, could you please share your attorney's information? Is he/she a real estimate attorney?
Originally posted by @Jason Hirko:
@Celine Liu PM me and I'll be happy to share my attorney's info
Post: Houston Real Estate Lawyer Recommendation
- Houston
- Posts 8
- Votes 2
Hi Charles, it is a good point to partner with someone who is experienced in the sub-to field.
Are you aware of someone who has done this before? I am pretty new and would like to learn/explore different options.
Thanks.
Post: Houston Real Estate Lawyer Recommendation
- Houston
- Posts 8
- Votes 2
Hi BP friends, I am looking for real estate lawyers in Houston area that can help with subject-to contract. Please recommend!
Thanks!
Celine
Post: $200k in six months - long distance RE challenge
- Houston
- Posts 8
- Votes 2
Originally posted by @Sam B.:
Thanks @Celine Liu
To answer your question re: where I found the properties...
Property #1 @ MLS from the sellers
Property #2 @ Wholesaler
Property #3 @ MLS via Auction (foreclosure)
Property #4 @ MLS from the sellers
Property #5 @ Off-market via network
Property #6 @ MLS via Bank Foreclosure
The MLS purchases were captured using cash, no inspection and fast closing terms
Thanks for the quick response! Cash and network are so powerful!
Post: $200k in six months - long distance RE challenge
- Houston
- Posts 8
- Votes 2
Such an amazing work! Well done, Sam. Really appreciate you share so much details with us. Do you mind to share where you found these properties? Wholesale or foreclosure?
Thanks,
Celine
Originally posted by @Sam B.:
Update
Property #1 Rented at $1800/mo
Property #2 Rented at $1595/mo
Property #3 Finally done, except for a couple of HVAC grills. Property management now has possession as of this weekend, appraisal was completed yesterday, I'll know the results next week. Really swinging for $150k but I need my funds back asap so...I probably won't fight a low appraisal. Final photos below.
Property #4 New garage door installed, some additional drama with the electrical that I'll share later but it's going. Drywall start won't start for another 10ish days due to electrical delays. Progress photos below.
Property #5 Title paperwork is in process. Loan paperwork to be submitted next week. Then appraisal.
Property #6 I really didn't want another property but it was hard to turn down the equity capture with this one. I'll post more details later but the core numbers are below.
Purchase Price: $65k
Estimated Rehab: $40k
Estimated After Repair Value: $150K ($86 sq ft)
Estimated Monthly Rent: $1400
Source: MLS (Fannie Mae Foreclosure)
Funding: Financing w/local credit union.
Schedule: Unknown.
Initial photos shown below.
Property #3 Final Photos Below
Property #4 Progress Photos
Property #6 Initial Photos Below
Post: Need Advice on Owner Financing
- Houston
- Posts 8
- Votes 2
Thanks, Christopher. It seems like we do need an real estate attorney/lawyer for promissory note and purchase agreement. The deals we have done before are conventional way through realtor, banks and title company. It is a learning curve for us to try the creative way.
Ed, appreciated your advice. Helping seller understands the tax benefit may help with the contract terms and process.
Post: Need Advice on Owner Financing
- Houston
- Posts 8
- Votes 2
Hi BP friends, need some advice on how to do owner's financing. I understand the basic concept, but definitely need to learn the ins and outs. I assume that we need an real estate attorney with the purchase contract since it is different from the conventional ones? And any tips for negotiation with the sellers? Any advice sand tips will be appreciated!
Post: Houston General Contractor
- Houston
- Posts 8
- Votes 2
Would like to connect with BP friends who have experience using general contractor in Houston area. We are about to get our feet wet in fix upper field. We understand how important to have a good contractor. Any recommendation or information about contractor are highly appreciated!
Our team is good at Profit & Cost analysis and would like to offer help if you need it. Thanks.