All Forum Posts by: Jared Vidales

@Edward B. Good viewpoint. Im currently shopping for long term debt, my business and partner were weighting the opportunity cost of storing equity in the asset, versus taking the cash today and placing it into higher yielding investments. Since our full time job is building and operating a portfolio, we decided on taking the later. 

The houses I posted are not flood homes FYI. 

I appreciate the support guys. I'll be sure to keep up the posts regarding the Houston venture. 

Thanks @Travis Shelton! it was my pleasure!

@April Molina I always wake up early, and the gym has always been a corner stone in my life style. 

We just have very aggressive and innovative marketing strategies to get us into the right individuals. We also have bi-weekly sales training with our acquisition reps to ensure they're highly trained. Our CRM is highly automated on the sales side. We have leads managers that manage our acquisitions reps pipeline to ensure no leads are falling thorough the cracks. In other words....we're extremely dialed in on every aspect of the acquisitions process. 

3 years ago I risked everything to build something of my own.

I’m not your typical “started from the bottom guy”…no, I came from your average middle class family, I have awesome supporting parents who are still together, I got my engineering degree from one of the best engineering schools in the US, got hired onto a fortune 50 company right out of college where they interviewed 2,500 college applicants and I was one of 15 that was hired for that year, and bought me a BMW…in other words, I’ve never really struggled…but what I did struggle with was how society has conditioned us to fit inside this corporate box, experience zero risk, pay into a company 401k, buy a house with a 30-year mortgage, work your backside off for 50-years so you can live out your remaining years in a mediocre “retirement”, etc. There was a saying at this company, “Bleeding blue”, meaning you were a true corporate thoroughbred who would live and die for the company. I never got it, and not to offend anyone but personally this concept physically made me sick and gave me this level of claustrophobia within my own mind.

2015 I quit the corporate job, bought 2 houses on the same day from another investor, leveraged the heck out of it, and flipped them. I had NO idea what I was doing. I didn't even know what a title company was, earnest money, HUD's, nothing. Yes I got taken advantage of by contractors, my timeline doubled and I borrowed money from friends/family because I went significantly over budget. I took a massive risk but I didn't care because I was having the time of my life, and more importantly I had the freedom to do whatever I wanted. I learned by my mistakes, built a better process, and kept testing.

Fast forward to today, my beautiful business partner Dani Crowell and I have built an investment company where we operate out of 4 states, flipped over 300 properties, help Americas largest hedge funds and REITs trade their assets, and employee an awesome group of guys and girls that we can depend on.

Where you started from is relative. Everyone has their “why” whether poor or rich. It’s the growth, as well as the journey to that final destination that holds the most merit.

Hey Guys! Long time member here, haven't posted in a while, but still out there doing deals!

I currently operate out of Phoenix & Vegas. We run a direct to home owner acquisitions strategy squiring 20-25 deals on a month basis across both markets. My partner and I have had our cross-hairs on Houston ever since Harvey hit, and we're lining up our resources to open a small office and set up an operations team for a fix/flip & hold strategy to balance out the yield of our existing portfolio. 

We have 3 SFRs in escrow now we picked up directly from home owners and will be our first 3 assets in the market. 

77804 -- PP: 90k Rehab: 10k ARV: 189k

77065 -- PP: 95k Rehab: 5k ARV: 187k

77065 - PP: 90k Rehab: 5k ARV: 190k

My question is to wholesalers and other investors, what margins are you experiencing in the market today? They seem insane compared to how easily the 3 properties came to us. Also, how is labor currently with contractors? 

Thanks again, and I plan to be more active on the forms. 

Price reduction too $515,000

Price reduction to $590,000

sold

Dropbox pictures has been updated