All Forum Posts by: Eliott Elias

Generally you want to get into wholesaling to build enough cash to buy 

Hit up Net Worth and New Western, they are the biggest players in Houston. I can pass along my contacts, DM me

Have them paint it back to its original color once the lease expires. Boom, free paint job 

https://www.irs.gov/taxtopics/tc701 

Do you have an idea which city? Austin is the Ferrari or appreciation, but very hard to house hack considering what duplexes are priced at. Houston and San Antonio are still fairly affordable

You would have to check if the property first and foremost is in a FEMA flood zone. You don't need flood insurance if your property is outside its parameters. With ATLAS 14 homes that were in the 500 yr floodplain are now in the 100 yr floodplain, be aware of the flood map changes.

Take a deep breath and attack it one step at a time. You got this!

Bank's will not lend on a property that is "uninhabitable", hard money lenders will. 

Hard money is a lot more accessible as well, banks could take months to finally approve your loan and fund you. Hard money is fairly quick. 

Absolutely. Ask for a T-12 “trailing twelve months” it refers to a financial statement that represents the properties performance over the past year.

Look at what the neighborhood is doing. Are there any other converted garages? If done right it could be a great addition for cash flow if you are looking to rent by the room. It depends market to market but generally 3/2's with a garage have more appeal to buyers.