All Forum Posts by: Eliott Elias

Hi Eliott. Thanks for the response. The goal is to get rid of the house on my Dad's timeline with no contingencies - which is why I am inclined to go with an investor or wholesaler. In the New Boston market it is highly unlikely that a homeowner would take on the foundation repair and cosmetic overhaul that it requires. It will not pass appraisal so cash buyer is required.

Thanks for the tips on listing it. That is a pretty obvious step that I have already taken and received a ton of inquiries and one offer already. I do not know the next steps as far as contract drafting or legal paperwork required to sell a home FSBO and that is more what I was looking for help on.

Thanks again.

Gotcha, you will not be drafting contacts but rather receiving them. Go over the TREC one to four contract and get a good understanding of it. Who pays survey, title, option period, earnest money etc...

https://www.trec.texas.gov/sit...

1 Vote

Dallas, Texas

Quote from @Joe Villeneuve:

Quote from @Eliott Elias:

Understand all strategies, but narrow your focus and niche to one or two strategies. You would need multiple teams to effectively pursue every opportunity in real estate, STR, flips, multifamily, and commercial. Choose the strategy that fits in to your lifestyle and personality type and go head first in my opinion. Don't be the master of none

Not so. First, STR, flips, multi, and commercial are NOT strategies...they are types of properties. How you make deals out of them are the strategies...and the more you know, the more opportunities exist.

REI's should never limit themselves to being a master of a few, be a Master of none ... they should be a Master of them all. If an investor thinks they can't do this, they are only penalizing themselves,...and probably lazy. Note I'm not calling you lazy, because I have no doubt that you couldn't be a master of an unlimited number of strategies. It's not that hard...it's just basic math, and an application of that math to make deals happen.

In my experience shiny object syndrome has caused more confusion that clarity for new investors. When they know what they want, educate themselves on it, and attack it they have more confidence a much higher success rate. This may not be the case for the seasoned investor, who is able to master many different strategies. Experience and time will allow you to be a master of them all. Respectfully

2 Votes

Understand the seller financing concept and target FSBO properties. You want to educate homeowners and present it as an option, most owners are going to ask you what it is. Be prepared to educate them on why its a great option.

0 Votes

How many units are you managing? How far is this property from you? And how hands on do you want to be? The best way to find anything is by referrals. PM's will eat at your cash flow and slow your process to building an empire, depending on how many units

0 Votes

2 Votes

If your goal is to maximize the sales price of the home i'm not sure if eliminating an agent is going to solve your problem, especially since you have minimal experience selling real estate. If you are targeting wholesalers and investors you are welcoming low ball offers. Homeowners are who are going to get you competitive offers.

If you'd like to list yourself put a sign in the front yard and post FSBO on Zillow and Facebook.

1 Vote

Dallas, Texas

The best way to take advantage of real estate in Austin is to hold a rental, short term or long term. Appreciation is the name of the game and investors are willing to break even to take advantage of that. STR cash flow stronger but there are stringent regulations that hold many investors back. There is a good forum regarding STR in Ausin

1 Vote

Good deals are not found they are created in this market. Target MOTIVATION and solve problems

0 Votes

All Forum Posts by: Eliott Elias

Eliott Elias has started 12 posts and replied 9587 times.

Post: Developing land and rezoning

Post: First time with lender.

Post: New Boston Texas - Sell without agent?

Post: Shiny Object Syndrome

Post: Beginner looking for SELLER FINANCING

Post: Property management tips

Post: Shiny Object Syndrome

Post: New Boston Texas - Sell without agent?

Post: Is Austin a flip or rental market?

Post: Finding deals in this market