All Forum Posts by: Jason Bible
Jason Bible has started 7 posts and replied 72 times.
Post: Thoughts about post-Harvey and the area flooded by the reservoir
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Mark Sewell:
I think you have to clearly differentiate those areas that flooded previously (Tax day, Memorial Day, etc.) prior to Harvey, and those areas that got hit due to the release of water from the reservoirs during Harvey.
@Jason Bible I seem to remember that you called it in those days/weeks immediately following the event -- great opportunity to buy & hold rental property, but it might take a little time for collective memory to forget about the flooding.
Id link the radio show I did calling it, but the mods keep taking down my links. I made another prediction, houses that didnt flood, in neighborhoods that experienced flooding would see price reductions. Which absolutely happened.
I was driving around our new office looking for a donut joint. Found one off of 6, 90% of that strip center is still vacant from Harvey. Welcome to Harvey 2.0...
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Quito Keutla:
Was your wholesaling deal all in Texas?
yes
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @John Elias:
For someone looking to get started soon, if you had to redo it all again would you still start by wholesaling and flipping? I actually kind of want to follow the path you did. Flip at first then transition into rentals once i get some capital
I just closed this one with a partner. He gets 9% interest and 30% equity. Ill cash flow 900/month and have no money in the deal
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Nathanael Shook:
@Jason Bible
Beginner looking for multi family. I’ve targeted saint Louis as I have family there and my home state of Colorado is too expensive
Expensive is a relative term. I'd first look for a landlord friendly state, I am not an expert in CO but I believe it is, and then buy. If it cash flows with a DSCR of at least 1.4, go get it.
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @John Elias:
For someone looking to get started soon, if you had to redo it all again would you still start by wholesaling and flipping? I actually kind of want to follow the path you did. Flip at first then transition into rentals once i get some capital
I would have gone right into rentals. Find partners and build wealth. Id be worth tens of millions more if I just went right after rentals. Just partner for the capital.
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Quito Keutla:
Was your wholesaling deal all in Texas?
yes, 95% in Houston
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Nathanael Shook:
@Jason Bible
What is your primary means of finding a deal on a multi family property? And for someone just beginning, any advice on finding that first property?
I have pulled great deals from MLS, but I get a ton of referrals and pocket listings.
Beginner looking for what kind of deal?
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Nick Giulioni:
Originally posted by @Jason Bible:
Originally posted by @Nick Giulioni:
Originally posted by @Jason Bible:
Originally posted by @Nick Giulioni:
Thanks for your willingness to share! Did you ever hold SFRs as long term rentals?
Yes, typical hold time was around 2 years. We did not keep that many.
-JB
Did you 1031 or eat the capital gains?
I wish 1031's worked as well as the do in a seminar. The challenge is selling your rentals, and getting max value, while identifying the next property.
Honestly that doesn’t surprise me. I’m guessing I will have to slowly offload my properties in order to get my capital back out.
Do you have any regrets moving the multi?
I can buy MF fast enough. In the last six months I am under contract or have close 6 duplexes, 13, 27, 120 unit. I am also closing 3 and 4 unit for airbnb.
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Nick Giulioni:
Originally posted by @Jason Bible:
Originally posted by @Nick Giulioni:
Thanks for your willingness to share! Did you ever hold SFRs as long term rentals?
Yes, typical hold time was around 2 years. We did not keep that many.
-JB
Did you 1031 or eat the capital gains?
I wish 1031's worked as well as the do in a seminar. The challenge is selling your rentals, and getting max value, while identifying the next property.
Post: Almost 500 houses ----> Multifamily
- Rental Property Investor
- Houston, TX
- Posts 75
- Votes 66
Originally posted by @Nick Giulioni:
Thanks for your willingness to share! Did you ever hold SFRs as long term rentals?
Yes, typical hold time was around 2 years. We did not keep that many.
-JB