All Forum Posts by: Jeff Richardson

@Cameron Tope We list the properties ourselves and typically get the tenant in place without incurring any costs, by setting up group showings. As far as Cap Ex, we replace everything that will go out in the next 7 years upfront and factor that into our rehab (We will sell within 7 years to trade up to apartment complexes when Cap rates are higher). As far as vacancy goes, we typically have the highest quality property in the area at the best price to get the largest tenant pool possible, we then screen them thoroughly and check with multiple personal references and we go back to 2 of their previous landlords for recommendations, to date we have not had any vacancies, not a single day except for the marketing time after the properties were rehabbed (typically 2 weeks). We have another property in Houston that our monthly payment is $603 PITI, and rent is $1,150, so the $463 is on the lower end.

We have a contract on rental #6. Cash out of pocket $15,000, Purchase price $89,000, rehab $23,000, ARV $135,000, capital gain $12,000, 80% return on capital gains, monthly cash flow $463, 37% cash on cash return, total return for year 1 without appreciation: 125%. We have or are looking to invest in DFW, dallas, Fort Worth, Texas, Houston, garland, mesquite, Rowlett, Katy, sugarland, haltom city, Denton, Waxahachie, Waco, Austin, San Antonio, round Rock, Gainesville, Justin, Arlington, Grand Prairie, Irving, farmers branch, rockwall, Corinth.

@Anderson Schulle in DFW, I list our houses on MLS myself, in Houston I'm not a member of the board so I have another agent list them for me, but I handle the lease and the management after that.

@Scott Ewell we are getting our deals through Wholesalers, I’ve given up even looking at mls for deals.

Kyle Stolarski with Maxim Insurance

Is who we use for our rental properties in Houston.

We like DFW, but we are currently looking for cash flow, which we are getting great results in Houston. If I didn't need the high COC return, and I had time to devote to finding my own deals, we'd be buying DFW properties from $100,000-$150,000 ARV

We are in DFW but have buying in Houston because the COC returns are so much better right now. We do not buy the flood properties and are still able to find great deals.

@Robert Gunby Yes we are, otherwise our out of pocket would be about $45,800 for the same deal.

We have a contract on rental #6. Cash out of pocket $15,000, Purchase price $89,000, rehab $23,000, ARV $135,000, capital gain $12,000, 80% return on capital gains, monthly cash flow $463, 37% cash on cash return, total return for year 1 without appreciation: 125%. We have or are looking to invest in DFW, dallas, Fort Worth, Texas, Houston, garland, mesquite, Rowlett, Katy, sugarland, haltom city, Denton, Waxahachie, Waco, Austin, San Antonio, round Rock, Gainesville, Justin, Arlington, Grand Prairie, Irving, farmers branch, rockwall, Corinth.

I am a Licensed Hard Money/Conventional/FHA/VA/Portfolio/Blanket loan, and Apartment Complex lender in the Dallas Fort Worth area, I'd love to help in any way I can.