All Forum Posts by: Daniel Tanasa

Hello Jeff, 

I would check first with the HOA to make sure they allow converting it in a duplex, in 99% of the cases they don't.

If the HOA is fine with it, then start negotiating the terms in your favor. I would start with a 5% down if that's all you have and maybe a 2% interest. They will probably counter you, but that is a good starting point.

Good luck! Let us know how it goes. 

Hello Jesse, 

Do you have the deal off market from a wholesaler or is it on MLS? Katy is a great area, with good schools and good appreciation. I am not particularly excited about the Freeman Ranch area, a lot of communities developed in that area in the last 3 year, Sunterra being the biggest, but the roads to get to it are still the old 2 lanes roads which get really crowded especially at peak hours. As far as I know there are no plans at expending them yet, so that will be a problem that will stay for a while. You can spend another 30 minutes to get from the highway to the house, so that is making a bit less desirable.

When you're buying a house in a area with a lot of new construction going on, keep in mind that you won't see much appreciation in the near future, and if you need to sell in a couple of years you'll have to sell a a loss as is hard to compete with the incentives from the builder and your product won't be brand new anymore. As long as you're planning to keep it long term you're fine. 

We have a in house property management company located in Katy, send me a DM and I will be happy to send you details about it. 

Good luck, let us know what you decide to do about this property!

Hello George, 

Congrats on passing the exam and welcome to the community. We have a monthly meeting in Galleria Area for Greater Houston REIA and we have different focus groups in different parts of the city. Send me a DM if you're interested in attending and I will be happy to send you details.

Good luck!

Sounds good.  If I have anything matching that description I will send it over. 

 Sounds good. I will keep that in mind. 

Happy to connect!

Hey Brent, 

Welcome to Bigger Pockets, 

You're in the right place, keep asking questions, read as much as possible and most importantly start taking action. 

Happy to connect. Feel free to reach out if you have any questions and I will be happy to point you in the right direction. 

Good luck!

Hello Torrey, 

From what I hear from the contractors I work with, now is a slower time than usually. A lot of contractors that I use to work with are calling me to ask if I need help with any jobs. That is to say that you're not the only one struggling with leads right now. Word of mouth is usually the biggest driver for the guys I work with. Also, working with investors could be a good niche, because they keep coming back, but they will require lower prices. You won't be able to charge retail prices. 

Good luck!

Hey Torrian, 

Welcome to Bigger Pockets, 

Congrats for starting so young, way to go. I am always looking for deals and I have a lot of clients I work with that are always looking for deals, so looking forward to connect and maybe work together. 

Feel free to reach out if you need anything. Good luck!

Hello George, 

Being a Realtor is already giving you a big head start in your investing career. 

Since you're focusing on building long term wealth and rental income, focusing on value add Buy and Hold would be the way to go. Doing the BRRRR strategy will help you to be able to keep buying using less of your own cash.

Good luck with your investing, and feel free to reach out if you need anything. 

 That makes total sense. Seems like you found a wining formula there, just rinse and repeat.