All Forum Posts by: Eliott Elias

I completely agree with this. But I also believe there needs to be an emotional aspect to real estate investing. Especially when you’re dealing direct with a seller, emotions should be taken into consideration, and can actually help you land a deal significantly cheaper than what another investor is proposing who is coldhearted.

I believe that the first thing you should be looking for is if the property cash flows or not. You could find the best area on earth, but the numbers don’t pencil out. Look at neighborhoods where property values have not gone up significantly compared to rental rates. Some areas you may want to consider in Houston are Sunnyside for example

Prepayment penalties usually are added to a loan to give you better terms, such as loan to value and interest-rate. There are lenders who have no prepayment penalties. The interest rates are most likely a lot higher.

The subject to aspect really does not play a part in your refinance. Your biggest hurdles are going to be seasoning, and finding a lender who will do a refinance for all of them combined. Why purchase a subject to if you’re going to refinance with in a year anyways? Why not just hold the debt?

The best way is to buy a property within the vicinity of the hospital they work at.

I would start by figuring out what exactly you’re looking for. Saying you’re looking for rental properties is a very broad statement. Are you looking for something that cash flows, or breaks even in perhaps a nicer neighborhood. Most properties right now do not cash flow given the values and interest rates.

I would recommend you get a realtor for your protection. It does not cost you anything and you really don’t have anything to lose. Make sure it is someone who has experience with new builds. It’s a little bit of a different ball game than resale properties.

With the exception of a primary residence. I would stay away from solar panels. They kill your equity and make the sale extremely difficult for anyone. Most of the properties I take over subject to have solar panels. Most times the salesman sells them on a dream of having a zero dollar electricity bill, but never mention how the payments can actually kill you.

First and foremost make sure this is a partner you are comfortable doing business with. Are your goals the same? Do you have similar values? Do you know the persons family? Have times got hard with that other person?

What I would do is look at what your comps are doing. Do they have central air or window units? Mimic that to get your top ARV.