All Forum Posts by: Juan Maldonado

Hi @Audrey c. If you find something like what you just described in the red area below, please let me know. Would be extremely interested. Thanks.

@James Sinclair, are you planning on having one for June? If so please let me know would love to join if possible.

@Clifton Kaderli, responded to your PM. Thanks. 

Hello House Flippers and Wholesalers,

I am calling all Austin, TX wholesale, flippers. If you come across a project that doesn't fit your needs or meet your expectations please let me know. If there is a deal that has too skinny for a margin for you I will take it. I am looking for the ugliest house on the market. Would be fine doing a total Gut Job as long as the price is reasonable. This is going to be my primary residence so I don't need a large spread, but do want to find something with instant equity and with Austin prices at an all-time high, I can't bring myself to pay retail.

I also just purchase a list of 600 or so property owners that may be in financial distress heading to pre foreclosure, will be sending out direct mail. So if you may be interested in doing some Co-wholesaling if something comes my way that I don't want let me know. I work in RE, but wholesaling isn't really my thing right now.

Price: Depending on the rehab I would like my all in cost to be at about $250-275k. So let's say the property itself for around $150-210k. Obviously less is accepted.

Location: Attached is a photo but mainly looking for South Central, South, and Southwest county or the Northern most fringe of Hays County. On Map (Picture)RED is my sweet spot, Green I will go for the right deal. Zips:78749,78735,78737, 78736,78652, 78704, 78745,78739

House Type: As mentioned will be my primary residence so would like a 3/2 will go with a 3/1 and I can add a BDRM or a 2/1 and I can do some additions. Will also take a look at a complete scrape and build, or even just a empty lot with a foundation pad. 

Financing: I have a private partner who will help me take it down quickly. So don't worry I won't waste your time. Totally understand that CASH is KING here. Long term plan is to then go in with a 203k Loan and pay him out. 

*** Also not opposed to buying a 2-4 Unit and doing a @Brandon Turner

 house hack especial. **** 

Give me a call 512 766 4289, or PM here. Thanks BP, let's make it happen!!

@Michael Delpier, interesting to hear about the consolidation in the market, certainly after hearing what you said makes a lot of sense. Like anything else the little guys probably had to take some bigger risks and make some bolder projections, while not having all of the research and back office tools that the larger shops have in order to compete, now unlike the big guys they don't have the cash reserves to cover the overhead. 

Your oil exec comment about job consolidation also makes sense and I guess that must be one of the underlying factors that some of the big players I mentioned understand and are probably anticipating. Certainly it isn't the Oil itself they are worried about but certainly the multifamily industry is tied to employment and job growth and they could know that job losses are on their way. 

Honestly for RE most of the Texas markets are just incredible right now. My wife and I are starting to look for a house and it tonight to know your buying into such a big sellers market. 

@Michael Delpier & @JIA KIM,

I work in the multifamily apartment complex universe. I can tell you that many people outside of Houston are watching oil very carefully. At a conference in January of this year in California everyone I talked to would bring up oil because I had a TX name tag. They are very worried that oil prices will lower oil production and therefore the Houston, economy will be impacted negatively mostly through unemployment and subsequently less new hires. Interestingly enough a wealth investment manager told me wasn't worried because as a whole only 5-7% of the Houston economy is tied into oil.

Yesterday I was talking to an investment officer of probably the largest manager/operator in multifamily (400k units), when I asked him where he would invest if he had to choose between Houston and Dallas, he said right now "Dallas, no doubt. Houston has too much volatility with oil". He did mention in the long run it would be fine.

That said, if you talk to someone in the trenches in Houston, they like what is happening. As someone pointed out above. The guys that are looking at the market from CA, NY and abroad, don't want to invest so it is depleting the buyer pool, making their deals less competitive. As these guys are more "micro" its an advantage for them as they know what they are getting into, so they are not afraid of current oil prices.

At a big conference in late 2013, Houston was #1 on the list for city to invest in, almost across all your major food groups (Residential, Commercial, Industrial), however this was pre oil slump. If anyone wants to receive some of the updated trend reports send me a PM.

My thoughts: If you know Houston well and you know the areas you are investing in you should be fine. If you are just looking to get in there now this oil slump may help you as the current climate is not as competitive. However your debt and equity partners may not be so bullish and may need to be walked through your business plan thoroughly.

Again this is multifamily and the groups and people I have referenced are looking to make 15 Million plus investments, so if your a SFR flipper, not sure how helpful this may be for you.

Very old thread but I thought I would share my experience. Our company focuses on multifamily properties we are now looking for 100 unit plus deals but started by cold calling 8 years ago and now we manage a portfolio of around 1,000 units. Over 70 deals and maybe 3 of these came from brokers, the rest were leads that started with a cold call. The approach works for bigger deals too, but it's certainly more difficult. When I joined the company a few years back, I was taught basically how to drive for dollars, search property owners and cold call them directly. It took me 5 month to get my first deal, first year did 3 deals total (4 properties). Second year did 3 deals (6 properties)and this year have done 2 pretty big deals (220 units) all from cold calling. So yes cold calling works, what is important is just like direct mail, keep refining your approach, don't waiver and continue doing it, someone I admire said that the key to success is "persistence and perseverance." Good luck and remember that the person on the other end that call, that told you to screw off and never call again, doesn't know you and you probably will never meet them. So don't be shy to pick up that phone. Best of luck fellow cold callers!!

Benjamin Haberman , what I think Bob Beeler means with the 5k option is that whoever you do owner financing with will pay you 5k as an "option fee" or think about it as a "down payment". Their cost to secure the house for themselves and for you to take if "off the market place". This is your money to keep. In 2,3 or whatever you agree to, they will refinance and pay you back the full purchase price. You could apply the 5k option to the purchase price but that is negotiable just like anything else is. Hope that clarifies that a bit for you.

@Keith Frank, Thank you will do. 

Will give her a call. @P.Martin. Thanks.