All Forum Posts by: Holly Brown

@Michael Bachmann Congratulations on your investment! I would love to see the before images on this one.

@Will Fraser Thank you! I am very pumped to add this one to the portfolio. I normally don't post my deals but I figured it would be a positive post in the current sea of negative.

Negotiated down payment was $19,200 all in for closing. As the buyer's agent in the transaction, I made $10,500 (my broker allows us to have one transaction a year with no broker fees so I pocketed the entire 3%) $19,200 - $10,500 = $8,700. You could argue that I will pay taxes on that $10,500 which is true and would bring that up to around $10,000.

@Will Fraser

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Houston.

Purchase price: $350,000
Cash invested: $8,700

Small single family 2/1 with a 1/1 apartment.

Medium term renting out of the 1/1 apartment at 1200/month
Long term renting out the 2/1 at 1900/month
PITI = $2455
Additional predicted monthly expenses and predicted vacancy: $310/month
Cash flow per month = $335

Cash Down: $8700
Investment to furnish garage apartment for medium term renting: $4500
Cash on cash ROI = 30.5%

Renters secured on both the day after closing to move in on 4/1.

What made you interested in investing in this type of deal?

Great location in Sawyer Heights. Buffalo Bayou Brewing moved in recently and the neighborhood is gentrifying

How did you find this deal and how did you negotiate it?

ON the MLS... You never know who is going to say yes to a low offer on the MLS

How did you finance this deal?

Owner Financing at 6% interest

How did you add value to the deal?

I was able to walk the sellers through a non-traditional seller financing closing with an attorney. They had never done this before and were investors themselves. Closing costs for seller was $1000 with a 15 day accepted offer to closing date. They were thrilled.

What was the outcome?

Great cash on cash ROI, an investment in a great area in Houston, and 2 more doors in the portfolio

Hey everyone, 

We are pushing the date back a week and possibly further in light of COVID-19

Haha, @Cody L.! I may have to quote that one in the future. I  knew this would be a hard ask, but any suggestions are better than nothing. I appreciate everyone who has chimed in! 

Hi everyone, 

Any recommendations on skilled trades that you have utilized in the past in the Houston area? (specifically looking for inner 610 loop, Clear Lake/Friendswood/(SE 45 Corridor) and Galveston areas).

- Plumber
- Electrician
- Termite Inspector
- Surveyor
- Insurance (for investment properties)

Thank you in advance for any suggestions!

@Karl McGarvey wow, that’s fantastic! I’m so excited for you both! 

@Karl McGarvey Great things ahead for you and Kara! Thank you for entrusting me with your first STR deal.

Congratulations! 

This month is a little different from our normal topics as we will be focusing on alternative methods of investing (non-real estate)

@Samir Solanki Great tips and congrats on a couple of big wins! Thanks for sharing!