All Forum Posts by: James De Stefano

Whoa... if being home way more often didn't bring on deja vu,  then seeing this 1 year old thread bump DEFINITELY threw me off!  I could have swore I read this in 2019!

To throw in my 2 cents, it I do get a decent amount of Wholesaler emails and easily 90% of them are total junk, but there are some random gems thrown in. 

With how high expensive some of the price points have become even for starter homes, they still bring value. And often the emails have 30+ photos, where agents usually list 6 or 7 terrible photos on the the MLS. Alas... since there's probably 10,000 ppl searching daily on HAR for deals, the crap photos get the job done.

And option money of $100  for 2 weeks isn't much of a thing.  It's about $20 / day, give or take ( $100 might get you 7 days for a cheap sales price home, where $500k  home, you'll need several hundred)



 

Good replies and it's helpful to see multiple points of view. 

I know that nearly every SFH at 150k or under, in a C+ or better neighborhood, is getting multiple offers in 1 or 2 days on the MLS. Even needing 20k + in repairs, there are lots of buyers out there.

The luxury market seems most exposed, but this goes back to almost all new builds being 3000+ sq. feet monsters.  The affordable housing issue seems to be sweeping in from the West coast!

Just the type of topic I was looking for. 

 OP, I was searching youtube and their are some decent videos of prep, repaint / retain, and work involved. 

As you mentioned, it just needs to be presentable to tenants.  I wouldn't go overboard with costs for cover the stains.  The cracks are another issue altogether :/

Good responses, and OP, that seems like an awful lot of money and risk, for that high of an ARV property.

I know Austin is more expensive than Houston, but 750k  is not a price point that appeals to the masses.  And I do not like when the Luxury market is headed.  

But if you trust your team, know the area very well, and feel good about where the market is in the fall/winter time, best of luck!  Keep us posted

Excellent thread!  

I'm new enough to RE investing that I don't know the total ebbs and flows of a big market shift yet, but I struggle to see how RE  prices go UP across the country.   I don't think a 30 % drop is coming, but rather a slow, steady surplus of inventory should push down some prices for a good length of time. 

Ex.    In greater Houston area, a starter home in a B/C  neighborhood is about $140-160 k

I don't see a reasonable home zone to acceptable schools ever dipping below 120k  again, not with the population growth in Texas. 

But that luxury segment... psshhhh $600k  for a townhouse with 1,000 sq foot lot?   Not bullish on the future of those.

Petition signed, best of luck up in the Northwest!

And just so I understand this properly, the tenants don't have to show any proof of how they lost their job/ wages/ COVID positive, anything?  It's just a blanket "No Evictions" no matter what? 

This is not ok on any level...

I would lean towards NO for bus. expense unless you can some how prove how it's related to said business.  I am far from an expert though, go the CPA route as mentioned above 

I had to click on this thread due to it being the most confusing Title i've ever read. 

Now that it actually makes sense... I would say No.   That, or really get advice from Section 8 threads or any local investors that have dealt with homeless vouchers.  

Seems like Juicy problem and headaches to me

Great points!   As someone who's been in over 100 houses, some flooded, some looking like war zones, some 1/2 way remodeled, and some fully fixed up, it gives you a good sense of the full scope of work needed. 

Good advice and it's a good step towards getting the ball rolling.   Getting your money/ lenders and contractors lined up is another adventures, but none of it works if you pay too much or buy wrong. 

I agree with Kelvin for nearly everything.   Working remotely from home with a salaried job can be tricky.., I have a friend that essentially monitors is small team of employees on the screen, I think for many hours of the day.  

If you own your own business and have to bust your butt no matter what, working from home can be just as productive if you're focused. 

Commercial and Retail space isn't anything I could afford now anyway, but it's gotta be nail-biting time for them.