All Forum Posts by: Gerardo Jasso III

Hey Christopher it seems like you found yourself a good deal, but I'm not sure if you know, but when purchasing a multi-family unit above three units; the property has to pass the self sufficiency test, where if the property was fully rented out it can pay for the mortgage. FHA loan would be my pick since it's the option with the least capital needed to go down on the property, but regulations when're the window units are allowed may put a halt for your property. Negotiating is also very key to making a deal like this happen, When the numbers aren't making sense; it sometimes means the asking price is too much, but if you can lower the asking price, and it makes your numbers work, asking below can be well worth the hassle. Hope to hear an update about your potential deal!

Your Realtor, if experienced enough could give you a rough estimate of what it would cost if you are looking to do renovations, but it doesn't always have to be about fixing, Houston is thriving in certain areas with Multi-Families, a great way dive into investing with just a conventional loan. I personally have been looking at properties with some client, and depending on the type of loan; the property could cash flow from $100-$500! But the great thing about BP is that they have calculators for this kind of thing, both for Rehab and just a rental calculator.

My Lender went to a summit that really spoke about how to market a property in today's day and age of making sure you can get the best possible deal for yourself/client. Conducting an open house with a bit of a twist can make you picking up clients and finding a buyer for the home very pleasant. What one Real Estate team did in Arizona was to conduct an open house, but before that letting the neighborhood know about it and asking them questions about the neighborhood and what they would like in a new neighbor, you could also make your presence seem friendlier with the intention of giving back to the community. What the team did over in AZ was that they were letting them know with a brown paper bag and to leave any items they would like to be donated to the local Food Bank and to just leave the bag outside as they would pick it up and deliver to the bank in the coming days, a great way to introduce yourself to a neighborhood and potential clients!

A prime location is what truly matters in a metropolitan area. Easy access to highways, medical centers, schools is the driving force for rent increase and decrease, just like Houston Multi-families, most of these new constructions will cashflow within the year as long as the location is pristine! Similar or not the function of the property will determine. Some clients have gone with the approach of leasing out one unit while using the other as STR for Air BNB since some are close to downtown and the medical center

It really just depends on how you want to invest in Houston, STR are always recommended to be in the Medical Center since there is always an influx of nurses coming in and out of Houston. Multi-Families I find are best to be around the downtown area since that's where most of the activities are, allowing for people to find affordable housing near various jobs, and Buy-and-Holds are recommended to be in the surrounding suburbs like Missouri City which is very up and coming in the market range, Katy being the most popular for the school district that it has, another market would be La Porte and League City due to the refineries being close to them; people that work there are more obligated to rent there so that their commute isn't as long as if they lived in Houston. Feel free to PM me and maybe we can look at some properties as an investment for your portfolio!

BP has a great network when it comes to hard money lenders, a great way to fund renovations, however hashing out the details should be done with the lender and herself to make sure she can return the amount of money invested with her! Never forget BP investors are always looking for new ways to get a return on their money, don't be afraid to reach out to potential investors who have dealt with something similar! 

I'm assuming you already have it listed on the MLS the only house that has sold around the same price point was after a 75k reduction. Exit strategies are the most important when doing a fixer, my suggestion would be to lower it and try to break even with it, maybe you should try to look for areas where homes are selling at a higher rate. With interest rates scaring away most home buyers, there should be less competition in more metropolitan areas, feel free to PM and we can talk more in detail about the issue that has arised for you!

Hey Jessie! Would love to set up a time with you and chat about how you can take full advantage of real estate and what your next steps can be! I always recommend everyone to just listen to the BP podcast, there is too much information in those episodes to pass up on and best of all it's FREE!! 

 Austen is completely right, with the way interest rates are at, there is really no competition when it comes to buying an investment property. Of course you would have to look at what you can get out of the property i.e. cash flow or return value. Would love to have a chat with you about what your routes you could take! As an agent in the Houston area, I could give you a helping hand, feel free to PM me!

Hey Parker, it was a great idea, but FHA has guidelines when purchasing a property, one problem you'd come across is the fact that FHA can't have moveable AC systems, your AC system would have to be grounded to the property and immovable. To get the most out of your loan I always recommend a multi-family FHA loan to be best, where you can live in one unit and rent the other ones, and have it alleviate the cost of your mortgage. With the new loan amounts, all you really have to do is get in contact with a mortgage company that deals with investment properties. I happen to know one if you'd like feel free to PM me!