All Forum Posts by: Jim Cummings

Janith

your posts doesn't outline any objectives other to get into "Real Estate Investing". You need to decide what area interest you at this point, Flipping, Wholesaling, Buy & Hold Rentals, etc to name a few areas. I've done a few flips - frankly didn't make a lot of money! Have NOT done any wholesaling. I have owned and managed properties for 20+ years. If "Buy & Hold" Rental Investing interests you -  suggest the two Bigger Pocket Books; The Book on Rental Property Investing & companion book on Managing Rental Property. Whatever your interest - Real Estate or otherwise - become a student of that subject - buy several books and consume them until you feel comfortable with the "lingo of the trade" and the Processes & Systems involved. Adopt & Adapt those Processes & Systems for your own. You don't have to reinvent the wheel. 

Bob

I know a couple of Pest Control guys that added hanging Christmas Lights to their business, and they report making reasonable profits. You probably already have labor on your payroll.  

Bob

Suggest adding building fences & Decks to your arsenal of Services.  

Jake

I've used Commerce Bank (actually a subsidiary of Lubbock National Bank) in Austin for several deals. EXTREMELY Satisfied with the service and support. Since relocating to College Station, my Austin Commence National Bank Lender referred me to Mike McBerty at the local Commerce Bank Office. I met briefly with Mike, but haven't funded a deal with him due to other priorities. Contact me off forum and I'll provide you the contact info. 

Matt

Send me some addresses or complexes off the forum and I'll get you the Comps. As a general observation, I think it's more the quality of the location as opposed to proximity to the bus route! 

JIM

Dave

Thanks. I hadn't thought about that angle! JIM

Helen. In a word you would have to take Seller to court if push came to shove! You probably need an Attorney. Good Luck!

I'm contracted to buy 2 Single family Homes in College Station as part of 1031 Exchange. Both properties are the same price.

One is a 4/2, 1950 SF. (Ideal Rental Size). Excellent Neighborhood, Built 1997. Basic Finish out - laminate Counters, lots of carpet, etc. GOOD condition - NOTHING needed to get it rented at about $1700 / Month. 

The other is smaller (1620 SF) 3+Small office. Built 2004.Excellent Neighborhood, has a higher level of finish out - Granite Counters, etc. NOTHING needed to get it rented at about $1700 / Month. 

Rather than splitting the 1031 proceeds 50/50, I'm considering making the minimum 25% Down Payment (DP) on one property and a much larger down payment on the other - with the idea of getting one property paid off in the next few years.  Take into account that our age and Wife's risk aversion plays into the decision scenario rather than buying a number of properties all with minimum DP.

Any thoughts, ideas from the members appreciated. 

Check Paragraph 15 of your Contract for remedies!

Tim

Your Son's major area of study will be a large factor in determining his school of choice. From a Real Estate standpoint of someone who just moved from Austin (1988-2015) to College Station - the Investment opportunities are much better in BCS. Difficult to find anything in Austin for less than $250K & probably more realistically $300K without being at least 20 Miles from city center. Also think the school & environment much better at A & M! JIM.