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All Forum Posts by: Account Closed

Account Closed has started 0 posts and replied 36 times.

Post: Raising money from Private Investors

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5
Originally posted by @Jon Holdman:

Private investors are people you personally know. Do you know any rich people who will lend to someone in Puerto Rico? You might and might not even know it. Talk to people you know and people you meet about what you are doing.

 Agreed!

Post: New member from Houston, TX

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

Welcome to BP!

I look forward to networking with you @Nick Terry 

Barry

Post: Second home

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5
Originally posted by @Tim Bishop:

I don't see why not.  If you buy right, and it cash flows even with one unrented unit, then its just like any other investment property.  If you no longer need the extra unit for yourself then you've got yourself one more rentable unit.  Don't overpay or overlook your numbers just because its for personal use.

 He provides a valid point!

Post: House for Rent ( from Scammer)! or How to Spot a Fake Ad on Craigslist

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

This is more than likely a scam. The fact that the number listed is a Google number and does not match the property owner's name. I'd be surprised if they actually respond to your inquiry. 

Move forward with caution. 

Barry

Post: Houston - RICH Monthly Big Event and Trade Show - Saturday, 9/6/2014

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

Is this open to exhibitors? Investors/Companies wanting a table? @Belinda Lopez 

-Barry P

Post: Financing your Flip

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

We can get 75% refinancing on any hard money loan. We typically get a 5% interest rate and then do a wrap with a 9.9% rate. This allows you to make the delta between the two interest rates and owner finance without the responsibilities and unexpected expenses of home ownership. We do this daily! 

Let me know if you have any other questions!

Barry

Post: To pay off rental properties or not...that is the question!

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

To buy in all cash has less risks and you also have a lower ROI. When you leverage a property, you benefit from OPM and make a higher ROI. A happy medium is good!

We typically have Investors do 5% down and get a home-buyer to pay an additional 10% down for the Investor. We have found from experience that an 85% LTV or better is safe.

Feel free to send a message or call if you need further assistance. 

Barry

Post: Houston TX Apartment Complex

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

Hello Mr. @Xi Zhu 

Being in the real estate industry for over 30 year, I can highly recommend Creative TLC Realty. I can not post their number as I am not sure if it's against forum guidelines. 

But feel free to give me a call anytime. I'd be happy to share their information with you.

Barry 

Post: Ordering the Title

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

The end buyer is responsible for ordering the title and there is no cost. The title company will not charge you if the deal does not close. 

Post: Houston Meetup - August 7, 2014

Account ClosedPosted
  • Real Estate Investor
  • Houston, TX
  • Posts 42
  • Votes 5

Count me in!

Barry