All Forum Posts by: Jesus Garcia

Welcome to BP Brayden.  You'll find this site very useful, but will get little replies to basic answers that can be easily found by a quick search of the forum.  I order from uzmarketing.com.  They are local to me, but they offer great pricing.

One thing to consider is that there are first time home buyer programs you could take advantage of depending on what you do with it.  It is for homebuyers so not for investors, but if you plan on living in it, you might still be able to use them.  Live in flip, house hacking etc. 

I just used Ed Martinez with All State for two rent houses on blocks.

Hey Barbara!  Welcome to BP.  I'm also from Baytown.  Finishing up a rental in Beaumont, but I hope to be able to find my next property in Baytown. I wish you the best!

@Skye Anderson There are so many out of state investors that it's interesting to see someone from Texas starting their investing career by doing an out of state deal. I realize Austin is hot. Houston is as well, which is my market, so I ended up starting in SETX. More specifically Beaumont. It is a great rental market with a major university which is growing. There is also a stable blue collar work force with the refineries, chemical plants, and a port. Like you, I am starting out in lower end houses. My rents will range from $8-1000 and I'll be in about $40-60K. Being that I'm only an hour away, I'll still be able to self manage. And since we're buying the houses and then doing the rehab, I know that the properties will need little to no maint or cap ex for a few years. I'd be really interested in hearing about your deal in St. Louis.

Originally posted by @Allison Panila:

@Matt K. I'm sorry if I am coming off as trying to "get around it," from my perspective I see it as trying to "understand it".  I think the relationship with the landlord was fine and dandy and then this came as a surprise addition (the "no friends/guests without extra pay" part...forget boyfriend...this holds true for her sister, mom, dad, ME! just stopping by to visit).  I don't think there was ever talk of wanting a single person specifically, the landlord mentioned charging more for multiple people living down there.  I can't wait to get my hands on the lease, but all in all, she knows she agreed to something and is fine with it, I was just trying to understand (and this seemed like a place that could give me good insight!)...

Hey Allison, not trying to beat you up, but everyone is answering you from a business standpoint and you're in it emotionally.  Most investors are morally good people, philanthropic, etc, but when it comes to business, well that's how they treat it.  This is a good place to get advice or insight as you put it, but you just don't want to accept it because it doesn't line up with your idea of how this should play out.  Best of luck to your "friend"

Originally posted by @Samuel Garrett:

@Jeff V. you mentioned a great finance strategy by using remaining equity to obtain a HELOC. curious to understand your experience with HELOC and what investor friendly lenders you have worked with? So far, i have only inquired with big banks and all have turned me down when they found out i was trying to obtain a HELOC on an investment property.

 Samuel,

Forget the big banks.  They won't do it.  Find a small local bank or credit union.  Try to talk to local investors.  They can point you to specific people at specific banks

Originally posted by @Jessica Wood:

@Dave Carpenter - well, we played by the rules and she peed and pooped in the hallway on the way out. We haven’t entered the unit yet....wish us luck tomrorow
.

 Nothing we say can make the situation better, but I really am sorry to hear that.  Prayer for you guys and that she is gone for good.

Hey guys!  I am finish up a year long rehab in Beaumont (My dad and I did most of it on my days off from work).  I'm also about to close on a second property here and would be interested in hooking up with you guys.  I don't really know anyone in the area since I live in Baytown.  I'd love to be able to exchange ideas and bounce things off local investors.  Hope to hear back from you.

Carl,

How do you set up your leases?  Do you do annual agreements or by the semester, and how do you break up payments.  I will be renting two rooms out while my daughter stays in one.  I'm thinking of doing leases for each semester but still not sure on how to charge.  Thanks for any insight.