All Forum Posts by: Karl McGarvey

Quote from @Rahim Rogatia:

Quote from @Ruchit Patel:

Check out some turnkey providers if they have good cash flowy deals. That's what I have been doing for the last two years. 

 Can you recommend in Houston area?

 Rahim, 

I am not a Turnkey provider, but I do help investors in the area find investment properties and if turnkey is what you are looking for, we can help with that. If you would like to talk about what we are seeing in the Houston market feel free to reach out.

- Karl 

STR and HOAs in the same sentence should concern you. Once they ban them, your options are limited. There are two choices, take the risk or don't. Just make sure if you do, you have an exit strategy.

Hey JF!

I work heavily in Seller Financing... have done 4 deals using it in the last 18 months. Though state to state rules for how transactions work may differ, I would be happy to share some knowledge with you on how you can make a deal work for you and continue to provide you passive income for a little while! 

In Texas, regardless of where the buyer earns their income we are allowed to check their credit, income, and funds to ensure we have proper due diligence on the buyer.

Feel free to reach out anytime, I am all over BP or on social media and respond to all of the messages I get.

- Karl

Too much feedback - feels like youre defensive and trying to justify a better review. I would leave it with "So glad you all enjoyed your stay and the incredible location of our property. We really appreciate the feedback that you left about X, Y, Z so that we can best serve our future guests. Looking forward to hosting you on your next stay!" (They do not get to reply to your response so leaving the positive response of getting to host them again creates the mindset among readers that they intent to come back, even with minor issues)

Quote from @Thom Ruley:

I can't help but notice sellers are still trying to get the same prices they got last year. Are we just in that in-between time when interest rates are high along with prices? Buyers are still constrained by the same budgets they had earlier, maybe not even that with inflation. These properties would become no-brainers if the prices were to slip a little.

The second the prices slip, buyers will come running and we may be back to multiple offers and sales way over asking! 

List price is a starting point, offer less and create the deal that works for you. I have had Seller’s tell me no and come back a week later accepting my terms. Can’t get a deal if you aren’t playing the game

Your frustration is real! Cash flow has certainly become way more difficult than it used to be, but not impossible. IF you can accept low returns now, then based on history and appreciation of both property value and rents, your long-term hedge on inflation can still produce very significant returns. Long-term meaning 10+ years, not the 2-3 holds we saw investors taking advantage of between 2019-2021. We just closed on a property that over the next year or two will produce 5% ish CoC, but when we run the numbers for 10 and 15 years the ROI is still absolutely fantastic.

They always say the best day to buy was yesterday. If you can whether a near term storm, but get your hands on a property in a great location that will stay rented, you should have no issue making returns over the long term.

This is something I have been looking to do as well to allow me to own an RV for "free." We have a few local RV parks that have agreed to let me rent pads for a year at a time and STR. Basically arbitraging the spot but using my own vehicle. There is def some opportunity and people that love that type of travel, and good RV parks will have amenities to offer your guests.

Quote from @Stacey So:

I’m looking to purchase a 4plex this year in the Houston market. Does anyone have a real estate agent who can represent me and send me deals (off market would be great)? I’m based in Dallas, but travel to Houston monthly.

Hello! 

I actually just finished a deal with a Dallas client on a 3 unit property in Galveston! I work very closely with out of town investors frequently.

Would love to get to chat about being on your team. Feel free to reach out anytime!

- Karl

I think it is important to remember that even if you are cash flowing only $100 a year, if you pulled all of your cash out, meaning you have zero cash in the deal… the ROI no matter what the cashflow, is infinite.

The Angleton area has me excited over the next 10 years. As does Santa Fe, Alvin, Algoa. As Houston expands these areas are going to develop and appreciate

Quote from @Ekikere Etokebe:

Any current realtors based in Houston, Texas are understand creative or seller financing?

Looking to working with one to buy a rental.

 Hey Ekikere!

I have both purchased, sold, and represented clients purchasing investment properties using Seller Financing in Houston. Shoot me a message if there is anything I can do to help or any knowledge I can share!