All Forum Posts by: JD H.

I bought a new construction property in Keller in "07. I thought I would do ok with 1%. This was before I found BP and learned about the 2% rule/guideline. I break even on it.

I didn't account for the high taxes. It rents quickly and has only been vacant a total of 2 weeks since I bought it.

Hello BP. I have been looking into investing in a duplex as my next investment. Those of you who either own a duplex or specifically only invest in them I need your knowledge.

What are the lessons you have learned from owning them? Specific styles you prefer (single or two story)? What class A,B,C are most desirable from a cash flow vs. tenant problem stand point? Things to look for or avoid?

Thank you ahead of time.

Thanks Kyle. Any suggestions?

I want to do a Harp 2 refi on a property that I own. It is currently serviced by Seterus and it is a Fannie loan.
Can I shop around to any lender or do I need to find out who does the Refi's for Seterus?
Thank you for the help in advance.

You need to get with an investor friendly title rep. who will give you access to run property profiles. This will allow you to see if it's absentee, in a trust, etc. Ask around at your local REI meeting. They will also be able to help you out with a direct mail list. Most of the time.
David that's a good point with the numbering system. I did something similar but for each house.

DFD is time consuming but Will is right. I found areas that I didn't know existed. I did try to stay in the areas with median to lower priced homes.
Also get the redfin app. If I see a For Sale sign I will open it up to check the sales price. It is also good because it gives you the closest for sale, pending sales and sold properties. It's a good way to establish a baseline value and to see where the area is trending.

Patrick forgive me if this gets a little long winded.

I made a copy of the Thomas bros. page of the area I wanted to cover. As I drove up and down each street I would look for boarded up, overgrown, papers on the porch, or just generally run down.
Also look for dumpster or remodels. Could be a rehab and your next buyer if you wholesale.

I would take a highlighter and mark off each street I drove. When I saw a house that fit the description I would write the address down on a yellow notepad. Now I just use the memo pad on my Iphone with a headset, it allows me to record more description.

When I got home I would get on the computer and run a property profile for each of the properties to see if they belong to an absentee owner. Very time consuming! Good work for a VA.
I also looked for any other factors that might make it a good lead.

I would compile this list and send out a yellow letter, typed letter, or postcard.

Rinse and repeat. block by block, page by page. It was great for catching up on podcasts.

Let me know if you have anymore questions. But that was my process.

Patrick DFD is a great way to get started on a limited budget. I found my first wholesale deal that way.