All Forum Posts by: Kel Balase

@Davon Johnson , at such young age that's incredible! I'm also from New Jersey, lived in Journal Square area in Jersey City and now I'm in West Houston/Katy, Texas.

I am not sure how the prices are in Central New Jersey but I reckon they must be a much more expensive market compared to here in Texas. With the amount of capital you are currently working with, have you thought about investing remotely?

@Imeh Esen I'd recommend reaching out to @Ethan G. He is a real estate attorney

@Burt L. Asset based/DSCR lenders are a great asset to implement real estate strategies. Although they don't like to work with primary homes you're looking to live in. They'll look at the deal/property and run the numbers on the DSCRatio.

@Wale Lawal Great stuff.. To me cash flow only matters if it's commercial properties and you plan to do avalue add, since market value is highly influenced by NOI/CoC/Cap rates/etc of the property.

For SFH or 1-4 homes, cash flow to me is secondary.

@Michael Meegan I'll pm you a broker that I've used and also a client of mine has used.

@Lane Meyerdirk Welcome to BiggerPockets! As an investor, now turned agent, I'm excited for you in this journey of learning and meeting like minded people. I just moved into Katy. Will be sending you a pm!

I know a private money lender that can do 85-95% of the loan and can pay for rehab. Rates depend if it's a flip or long term. Price can also affect rates. Higher the loan amount, the lower the interest rates.

Hi Kanton, there skip tracing services available that you have to pay for or check fastpeoplesearch.com

Sometimes it's not accurate and you have to pay for a service. Message me if you would like me to find out for you

Hi Owen,

I have a list of contractors/handyman that I use. I'll dm you

@Eric McArthur If I answer your question, it'll be biased because I not only live in Houston/Texas, and invest here for myself and my family. 80+ tech companies have moved to Texas in 2021 alone. There's a good reason for it. Cheaper cost of living, lower wages, and high quality talent pool, as well as other more corporate friendly benefits. West Houston in particular, Katy Texas, are seeing a lot of growth with further developments.

Some other markets have higher rents, but with very slow appreciation. In Houston, the rents are going up year over year by 10% and home prices keep going up.