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All Forum Posts by: Effram Barrett

Effram Barrett has started 16 posts and replied 155 times.

Post: Multifamily REI Meetups in Houston

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

Go to the meetme website and look on there. I know they had several mf meetups pre covid 

Post: Will South Central Houston really go from a class F to A?

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

Yes I believe they will hold their value because like Michael alluded to, there are several areas gaining steam in that area. 

Not to mention U of H is literally down the street with a huge football stadium and new basketball arena.  The location has always been ideal but now the surrounding aesthetics being improved should help stabilize the values!

Post: Anyone Else Worn Out by Wholesalers Texts and Postcards?

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161
Originally posted by @Daron Williams:

Im new to REI and and started investing in tax sales about two months ago.. i then learned about bp and have been watching podcast and reading every book i can. I wanted to get rentals but my credit is horrible.. i have raised it from a low 500 to over 610. But last week i started driving for dollars and researching properties that I could possibly wholesale so I don't wind up homeless. because I'm unemployeed because of the virus. I do cold call and have good conversations with people and i do direct mail but i have my nephew print them out and we mail them in envelopes.. just today ive had 3 calls from people from the direct mail and also have 4 people that i talked to that is okay with me trying to wholesale there house.. im completely honest with them and very polite. My problem is i live in a very small town and don't know any buyers. But i will keep educating myself and hopefully atleast get one deal so i can show my 80 year old mother that i can make it as an investor.. i love RE and wanted to be an agent years ago but i aslo had a drug problem and wound up with some felonies.. now im over two years sober and my family is proud of me.. i try to help the home owners not irritate them.. my dream is to be like several of yall thats on this thread but until i can buy my own property i pray i can atleast find a buyer for the leads i have coming in.. thank yall for all the education and information. I learn alot from yall.. i love biggerpockets and i love the idea of being a REI

First and foremost congrats on turning your life around man. That's a demon in itself that you have conquered but I'm assuming you're in Jasper which i know isn't the biggest market, but I would encourage you to try out several REI groups on FB. There are several ppl who invest in low volume market areas. Just find as many groups as you can and see which ones have the most activity and see who buys in Jasper. Good luck

Post: What will my tax bill look like for a flip if I used 401k loan

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

I recently updated a home I had by using a loan on my 401K. The home has sold and I have the funds to pay back my 401K loan; let's say for example that I was paid a $50K check at closing from the title company as my net. My 401K loan was for $25K. What I'm trying to figure out is when tax time comes next yr, will I be responsible for the full $50K check, as income,  that I received or just the net of paying back my loan? 

Post: What are y'all seeing?

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

I think virtual showings and open houses are here to stay. 

There's still a lot of activity with so many people buying and selling

I believe there is some slight inflation in most neighborhoods but nothing crazy

Things slowed down slightly in March/April but we boomed from June on, but I'm curious to see if the productivity will continue into the Fall. Typically the Summer is when everyone is getting settled for the school year and the Fall is when things wind down. That could change this year  if families are flexible enough to work and school from home.

Post: Advice and tips for new agent in Houston

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

@Isaac Leal Just get out here and grind. Try to talk to as many people as you can about what you do. Houston is a competitive market, but you have an advantage and that's the people in your sphere. 

Host open houses or take lease leads. Get comfortable talking to people that way you will be fully confident when the big money appointments come up. My brokerage has a few listings with builders and I've sat in the model house before prospecting for customers without an agent. The opportunities are out there; you just have to turn over some rocks. Let me know if you need help and good luck!

Post: HOUSTON HOME BUYERS PUMP UP THE VOLUME IN JUNE

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

Hope the condo fact holds true. I have one I'm trying to sell here shortly!

Post: First Time Home Buyer Incentives Texas

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

@Danielle Scott Take a look at this website. https://www.tsahc.org/homebuye...

This gives you the answer you were looking for. If you want, I can plug you in with a lender who specializes in these and other state loan incentives.

Post: Is anyone familiar with NE Houston?

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

I live 5 minutes from 77044. I'm pretty sure I know what neighborhood you're talking about. Cash flow is pretty tight in the area as you mentioned but curious how the other choices work out for you

Post: Can i Wholesale on the MLS

Effram BarrettPosted
  • Real Estate Agent
  • Houston, TX
  • Posts 159
  • Votes 161

@Greg H.

I’m speaking in terms of representing the sellers interest and giving them advice. I could be wrong though

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