All Forum Posts by: Daray Olaleye

@Irene Johnson Hi Irene. I too am interested in listings for both markets. Let me know if I can provide you with my exact criteria for a list. Thanks! Email: [email protected]

Curt Riffel Thanks Curt. If there is such a way, what would you consider the best way to find out of the first and second lien are both owned by WF? Is it public information or could I just ask my Agent or Broker?

Cameron Tope That's frustrating. So what did you end up doing?

Tim Ball Hi Tim. That would be greatly appreciated. Let's get connected.

Hi guys. 

I know its been a couple months since I first joined and decided to be an investor. I haven't been absent due to inactivity, I've been striving fr the goals I aforementioned when I knew nothing about real estate investing. Since, I've purchased a 3/2 in Houston Texas that's achieving a great return.

More recently, I am in the middle of a condo purchase in Dallas Texas and we were set to close tomorrow but the deal went left in the final hour. I need your help BP. The sellers agent reached out to my agent stating that there appears to be a 2nd lien on the property that the seller claims he never knew existed. In any case the seller has recently began communications with the bank as to how to resolve the issue. As it stands the seller owes 55K over our contract price. My agent is well versed in short sales, although this is my first experience as this is only my 2nd purchase. The seller agent lacks communication and urgency and is unwilling to receive aide from our side. My questions for you guys are: 

-What do I do? We've told the sellers agent that our new offer is now 10K below formally agreed upon purchase price with the seller paying 5K in closing costs. Is there a way to encourage cooperation from the bank? Or to achieve an even lower purchase price?

-We were supposed to close tomorrow originally, is it more like 60-90 days now (The sellers owes the loan to Wells Fargo)?

- Not withstanding my new offer, is there another way (or multiple ways) to take advantage of such a situation?

Right now it sounds all bad, but I know 'where there's a will there's a way'. Thanks guys!

@Taylor Guest These are my sentiments exactly. If I could find a way to house-hack and live in a desirable area/home then I would but I have yet to find anything worth investing in when it comes to multifamily.

@Nikolas Ferreira For sure. That's the same thing a trusted realtor told me; which is what prompted me to ask what you guys on here for thoughts. I'm not into flipping (maybe I will be one day for down payment purposes); only buy and hold. Barring the thunderstorm forecast, what type of properties are you going to look at?

I've been trying to find some deal-worthy duplexes and 4-plexes in affluent Houston areas, but haven't really had any luck. Duplexes are scares in Houston as I've found the majority of them for sale in the 77021 area code as opposed to places I'd like to invest in such as 77003, 77007, 77008 and 77054. In the past this, I believe this has not necessarily been a great investment zip. I'm just curious as to you guys' thoughts on the area now and in the next 5-10 years.

@John Thi Hey John, hows it going? I am also an investor in the Houston area. I have lived in the Medical Center for most of my adult life as I did my schooling at the University of Houston. I am currently closing on my first rental property (3/2 in the 77082) while gaining some great on the ground experience. I noticed that you currently live in California. I am eager to learn and don't mind helping out a fellow investor in the name of learning. Let me know if I can be of assistance on the ground. I am an Accountant fresh out of busy season (almost) so I'll have some time to really explore the city.

Hello All. My name is Daray. I am a 25 year old Big 4 Accountant out of Houston currently closing on my first deal. I am new to the Real Estate game but I've decided not to wait years or even months to take action.

I knew absolutely nothing about real estate before this month (Relatively speaking, I still know nothing). The first Real Estate related book I read was Rich Dad Poor Dad on 4/1/16 and I was hooked. Less than a month later, I have joined Bigger Pocket as a Pro member, I have read 6 booking pertaining to my new fascination including Tax Strategies for the Savvy Real Estate investor, Investing with Little to No Money Down and the book on Rental Property Investing, I have done tons of analysis thru the Bigger Pockets calculator, I have been working my way back through every single podcast (I'm almost halfway), and I am in the middle of closing my first buy and hold.

One completed goal of mine was to get out of debt so that I could more invest my resources to creating passive income. I came up with a crafty way of meeting this goal with my first deal. This deal is for a single family 3/2 in the 77082 zip code. I am in the game to buy and hold but I worked out such a great deal that if I decided to flip it, I would profit 50-65K without any repairs (Not sure what the ARV would be as I am just getting my feet wet and have lots to learn). I completed this goal on the front end (point of purchase). My next goal is to create enough passive income to cover my monthly expenses in entirety.

I am currently seeking a single silent long term financial partners who has the capital and expertise to fund (70-200k per deal) and advise in my overall investing decisions. I am open but not limited to Single Family, Multifamily, and possibly House Hacking.