All Forum Posts by: Cary Love

Jack, Apart of the due diligence phase of evaluating an opportunity is financing. Right now it sounds like you are exploring different options you have in financing. Also sounds like you have the desire to “House Hack” your first acquisition. Remember on any acquisition to trust your numbers. Run all possibilities and worst-case scenarios. Keep in mind, what do you do if your house hacking goes bad. Also what your exit is after you or your future wife decides to get out of the property. As far as financing, you can get as creative as you want as long as you can cover your monthly payments, and the acquisition meets your criteria. From one millennial to another my first property was subject to the existing mortgage but today most of our deals are cash. Subject-To can be a creative way to get into real estate with low risk. Some financing options you should consider: - FHA / Conventional bank loans - Subject to - Equity Partners - Hard Money ( not suggested for owner occupants) - Cash Hope this helps. Please feel free to reach out with for advise or to chat.

Erica, If you are interested in this property, in addition to reaching out to condo investors for advise, you should be sure to also do “proper” due diligence. Not saying that you haven’t already. Items you should be asking yourself about this or any opportunity is: - Risk or Exposure - Exit strategy - Property specifics - Financing - ROI Evaluate worst-case scenario and determine if the property meets your needs or criteria. That due diligence plus other investor feedback should give you an idea if this opportunity is worth pursuing. All of this is assuming you are purchasing this as an investment 😁. Hope this helps

Welcome Laura to BP,

Sounds like you have some valuable knowledge about several different markets. It would be great to get your opinion and feedback about your experiences in each :) 

If there is any information or contacts we can provided here in Houston please feel free to reach out. Happy Investing!

Robin, If you are still looking for a residential or commercial lender please send me a DM. I have several contacts we have done business with here recently that would love to help you with your acquisition. Depending on the location you are looking at, there are newly built duplexes all around. Feel free to reach out if you have any questions. CJ Love

Welcome Joseph, You have joined the right group, and a great start for an education in real estate. I am located in Pearland TX just north of the Manvel area. Feel free to reach out any time for real estate talk, and a cup of sugar "coffee" haha. Happy Investing! CJ Love

Hello All, We currently have a single family property under contract in Houston Tx, and having a very difficult time finding contractors that are not to busy got give bids. We are looking to completely remodel the property, which was built in 1984. The property has had a few additions done to the property which look ok, but have some minor issues. The property is currently being used as a rental. It could still be a good rental with a less extensive rehab, but we are looking to remodel/resell. We manage rentals and oversee rehabs in the DFW market, but this would be the first flip in Houston. Any advise, referrals, or help would be greatly appreciated.

I will be purchasing a property in the Austin area from a family member who has just inherited the property. The property is in need of major renovations. Depending on the ARV I would like to rehab this property and sell/lease. If the rehab is too extensive we may look to wholesale. I am needing help running ARV comps for this property or office currently does not have MLS access in Austin. Anyone interested in offering market advise /help? Thanks

@Luke Shivers I will give Enrique a call today I thank you for your referral.

@Kevin Knight Wow I this website has tons of resources for PM and I am surprised that I have never heard of it. Defiantly a resources that we will be utilizing here in the future. I do appreciate the time you took to share this information.

Hello,

Our company owns properties located in the Houston, DFW, and West Texas markets. We are currently having issues finding a property manager for our Dallas properties. We currently own several duplexes/sfh in the Dallas and Fort Worth areas. Does anyone have property manager contacts that they could refer to us? Thanks

CJ Love

Hello BP,

I have never shared my very first deal I completed myself, that actually got me addicted to real estate investing. So I thought it would be cool to share my first experience in hopes that it may influence others. 

So it all started after I transferred to a college out in the DFW area. Up to this point I had limited experience in investing, but very knowledgeable from working with and in my fathers investments all over Tx. So as a student I was looking for creative ways to find myself a house to live in, while I look for more investment opportunities for my pops "bird dogging". I started out with fairly cheap inexpensive marketing. I am a public notary so I would meet tons of sellers, contractors, attorneys, and realtors weekly. Every meeting I would make sure they left knowing that I BUY HOUSES, and I would leave them with my contact info. I created and posted tons of craigslist ads, and mailbox flyers as well. 

Through my marketing I was able to get some finders fees, for sending deals to my fathers friends, and sending seller referrals to realtors that I've met through networking. Then finally my deal came. I got a call one day from an older lady who saw one of my craigslist post. She had a 2 bed 2 bath condo in Dallas she was looking at selling. The condo's ARV was about 60K, loan balance was 48K, and PITI plus HOA fees were about $640. The condo had a tenant thats live there the past 3 yrs and signed a lease for another year renting for $850/mon. So my question was why is she wanting to sell it?? Well she was actually ill and looking to move into another condo with some family. She had a senior citizen tax break for her homestead, which she wanted to transfer from the condo she's selling to the new condo she purchases.

Long story short I checked out the condo ran repair estimate, ran title search, searched comps, and everything checked out great. The seller and I agreed to paying her 1K up front for me to take over payments, and sign the deed to me. Helped her find another larger condo in the area and took care of the taxes at closing. The best part was actually after the transaction, she referred 3 others looking for the same type of deal. REI addict ever since. Happy investing!