All Forum Posts by: J Massey

In Texas, the age of the roof accounts for about 1/4 of the price of our policies. A basic hailstorm can ruin a 25 year old roof very easily, much more so than a new roof. Age in general leads to more claims (older roof, older pipes, water heater etc.). 

why didn't the existing borrower recover the equity if it was "in-place" and simply repay the loan and cash out? how are you able to capture equity the previous owner did not? good insights and thanks for sharing. 

Easy, get multiple quotes and if the GC doesn't want to pull permits, then buyer beware! If you move too fast, or skip the permits, it may not be any big deal. but at some point, it could come back to bite you. 

also, agree to a payment schedule and do not deviate. any GC that needs cash up front should be a red flag. if materials need to be ordered, then pay for them yourself and have them delivered to you property. 

you could consider areas near entertainment districts. arlington has: Cowboys, Rangers, Six Flags, Hurricane Harbor. Lots of concerts in addition to the football/baseball games. 

My plan was to buy a home warranty for my rental. Is this a decent option or are their too many strings attached? i know this won't cover all capex, just trying to prevent too many surprises. 

Wow, great post. So you have $2K cash net invested ($55K less $53K cash out)? your yield is crazy high. Curious how confident you were in the 125K appraisal? that is impressive. 

I think i like your strategy but i am considering going hard money on my first one. What are you all seeing for terms from HMLs now? I have seen some advertise 90% loan, but not sure that is reality. 

I was told by relative who works for Ebby that they generally require a fulltime commitment and the best splits they will give a new agent is 50/50. I feel like I could do better. Any good resources for finding small brokerages?

I just passed my real estate test but don't have a sponsor broker yet. I'm interested in rehabbing and don't want to do full time real estate. My goal is to minimize the broker commissions and overhead costs that come with joining a large brokerage. Anyone know of a place to hang your license? I'm in Texas. I've read a little about an online site called connectrealty.com that lets new agents keep 70% of the commission for a 200 dollar annual membership. Not sure how legitimate it is though.

Thanks for any thoughts.