All Forum Posts by: Vijaianand Thirunageswaram

Any one has better place to get new appliances for the flip houses other than Sears outlet and Lowes or HD? As you know you want it it for good price to reduce your out of pocket cost. 

Any local outlet stores?? 

@Jordan Decuir yes, I am going to FBREI meetup and it's fairly well attended and informative at times. They have topic for tonight. Come by. 

@Shahriar Khan is absolutely right about wholesaling especially 1 & 2. In RE, you gotta work hard to make your dollar not from other's work. That won't last long. Keep asking questions and analyzing deals every day... 

Vacancy rate or DOM are just numbers which gives you an idea about market but as many others suggested gotta use some common sense when it comes to renting. If you reduce the rent to rent out quickly you end up attracting less qualified tenant and they pay for 3 months good and start paying late and finally you end up evicting them. It happens a lot. 

Don't relax your criteria to rent out faster, it will back fire on you quickly.  At the same time, if you think the candidate is pretty sold and they are trying to negotiate with you telling market condition you can bend a little to reduce and rent it out. 

It's all about learning the market and adjusting accordingly to the condition without sacrificing your comfort level.

@Michael Dang I use Nextdoor all the time as well but the only problem if you have multiple properties around Houston area you need to have multiple email id to associate with each account. You cannot use one email account for multiple properties. I complained to them about it since I lead for 2 big communities but they don't plan to change that model anytime soon.

But Nextdoor is good source for any local resources. Try looking for your suddivision name in nextdoor.com and you might find it.

It seems like good amount interest in katy area. Good going guys... It's far for me and not good during week day.  Good luck!! I am still working on setting up something in 59 SW and Galleria area. 

Will keep you all posted. I plan to put a poll to find out the timing and day of the week to meet.

It's not just with big wholesalers, many in the market want to get the non-refundable deposit to hold after you sign the contract instead of title company. It's to be safe guard their pay out to start but also as beginner sometimes people back out of the deal. If it's deposited to escrow, it's hard to touch that funds unless it's released by the buyer. So that's another big reason which I can think of. Once you have done few deals, they know that you are promising buyer and won't have issues closing. 

In general, you should always insist to get the deposit paid toward title company if possible. That will guarantee your money back if they can give your clear title or cannot close. 

@Account Closed I pinged you few weeks ago about it. If you are still looking, let me know. You can email me or ping me.

There is no question is silly or dumb according to me. It depends on how everyone sees it. 

If you want to learn, don't hesitate to ask questions. I always learned by asking questions whether it's Meetup presentation or with handyman I work or with insurance agent.  You pick their brain and get things out and learn from it every time. That's should be asset if you want to successful investor.

Are you asking right questions to people whom you are trying to collaborate and work together. For example,

1. Are you asking the wholesaler that they have clean title for the property or do they know it's going to be cleaned at closing?

2. Will the earnest deposit you will be making would refundable if no clean title or cannot close?  Always give deposit under title company name.

3. If you are flipping, ask contractor whether they worked on flips before and they know what to do to make it sale ready?

4. For BRRR, ask your contractor or handyman whether these fixes or product used will last long? Whether Tile is better than Carpet, get his opinion and see what he says.

5. Working with good title company is really important to reduce hassles with seller. Make sure they know the tricks on closing whether it's wholesale deal? On others, ask them to explain the escrow fees and other charges. 

These are simple questions but they go long way. I have more questions but would like others to add as well. 

@Stefon Bostick Your post is bit confusing that;s why you didn't get any response I think.  Did you sign up with NWA or something similar as a buyer to buy from them or seller to find wholesale properties to sell to them. Do post right questions.