All Forum Posts by: Gregory Tran

There is a property I think would be a good rehab candidate, but I'm wondering if anyone has partnered with a builder or contractor on something like that (this would be my first flip, and even if I gave some money up it might be worth it to have someone who really knows what they're doing on the rehab side on the team)

Option 1:  I buy the house, pay the architect/builder retail, I sell the house

Option 2:  I buy the house, partner somehow, we split the profits 50/50. (In a situation like this, can I assume that they wouldn't charge the markup for architecture and builder's markup?  I wouldn't be charging my listing agent fee.  We'd be splitting the profit anyways right?)

Option 3:  We set up some sort of entity, buy the property 50/50, and split costs and the profit.  Is that feasible?  

Now that I type it out, option 1 sounds the cleanest with more risk, while option 3 is on the other side of the spectrum, though in that one the builder would have an interest in keeping costs down.  What do you guys think?

Hi @Josh Reborchick 

I have a couple SF and a 4-plex here in Austin that I self-manage.  I'd love to meet more like-minded individuals in the area as well.  I see you're wanting the north area, but how big is your radius?  Is south Austin something you would look at?

@Joshua Daoust If you're looking to learn the sales part of the business, KW is a great choice.  It's a huge company with tons of systems in place to train train train.

Disclaimer:  I'm with KW, and it's the only broker I know from the inside.  Yes they have monthly fees, but you get a pretty good crm, a good enough website, pre-built marketing, and digital signature program for that.

Welcome to the site @Brett Oleman 

There is enough info here for you to soak up for years!

Hi Amelia. Welcome to bp! I'm an agent and investor down here in Austin. This time of year is when I wish I was elsewhere like sf and away from the constant 100 degree days! Will you be doing investing in the Bay Area? It sounds like a totally different beast than Texas.

 I met most of them during inspection period, but wrote a letter as well.  It was a short intro to who I was, and had my contact info as well as the new rent payment instructions.

I'm not sure how it is in your state but here in Texas, if you haven't signed a buyer's rep you don't need to do anything. Just tell them out of courtesy. If you have signed one, there is a termination of buyers rep form you can fill out.

Where are you going to find a 2 bed for 700 in manhattan? Inwood? Don't forget condo fees are high there as well. I don't think it matters what income you are. You're either looking for cash flow or appreciation or both right. If you do the numbers and they make sense for your strategy then go for it.

@Danielle J. Supposedly the vinyl plank is better than laminate for rentals because water can screw up laminate while vinyl is waterproof.  

@Danielle J. After reading some posts here, I ripped out the disgusting carpet from one of my rentals and put in 5mm vinyl plank from lumber liquidators.  It's a click type floating floor with no adhesive.  I got it for $2.09/ft w/ the commercial discount.

It's only been in there a week with new tenants, so time will tell how durable it is.  It sure looks much nicer than the carpet though!