All Forum Posts by: Kevin Bazazzadeh

The meetup is still happening tonight. Drive safe out there! It is easiest to park in the north parking lot and enter from that side (red arrow on the map). The event room will be on your left.

Looking forward to seeing everyone!

Attention real estate investors in Houston! Don't miss out on our 16th REI meetup event. Each of our get-togethers spotlights a talk from a unique real estate investor or industry professional in the Houston market. There are no sales pitches, only actionable, ethical investing advice.

Last month we were privileged to have Billy Cook, a licensed inspector, discuss common issues to expect with properties in the Houston market, and how to spot problems with big-ticket items in houses. 

This month we are thrilled to welcome Matt Williams! Matt is a full-time real estate investor based in The Woodlands, Texas. He manages a portfolio of residential investment properties and transitioned into commercial real estate with the acquisition of a mid size self-storage facility. His journey in real estate has been marked by overcoming challenges and seizing opportunities, always striving to distinguish the true signals from the noise. With a background in software engineering and project management, Matthew brings a unique perspective to real estate investing, often conducting his most important contract work outside with his feet in the pool.

This meetup offers the opportunity to learn, network, and grow alongside like-minded individuals. Mark your calendar for Wednesday, June 19th at 6:30 pm and ensure to join us. We have reserved time for networking at the end of the event, but we welcome you to arrive as early as 6:15 pm to network before the event officially kicks off.

See you there!

It is easiest to park in the north parking lot and enter from that side (red arrow on the map). The event room will be on your left.

Please try to arrive on time as the doors are locked after hours.

Looking forward to seeing everyone!

*UPDATE – Guest speaker change

Attention real estate investors in Houston! Don't miss out on our 15th REI meetup event. Each of our get-togethers spotlights a talk from a unique real estate investor or industry professional in the Houston market. There are no sales pitches, only actionable, ethical investing advice.

Last month we were privileged to have James Toler, owner of King James Lending, join us to share options, insights, and tips on hard money lending.

 This month we are thrilled to welcome Billy Cook! Billy is a licensed inspector in Houston and does all of our inspections for the properties we buy. He has been a tremendous resource and we want to bring him in to share some of his insight with the Houston market.

Billy is going to discuss common things to expect with properties in the Houston market, things to look at for with big ticket items like a roof, plumbing, HVAC, etc. He will share stories of things he has seen over the years and when you people should bring in a professional to give a second opinion. If you have any questions, want to share any horror stories, or just come hang out and learn it should be a great meetup to make it to!

This meetup offers the opportunity to learn, network, and grow alongside like-minded individuals. Mark your calendar for Wednesday, May 22nd at 6:30 pm and ensure to join us. We have reserved time for networking at the end of the event, but we welcome you to arrive as early as 6:15 pm to network before the event officially kicks off.

See you there!

Hi Felicia, we won't be streaming it. 

Attention real estate investors in Houston! Don't miss out on our 15th REI meetup event. Each of our get-togethers spotlights a talk from a unique real estate investor or industry professional in the Houston market. There are no sales pitches, only actionable, ethical investing advice.

Last month we were privileged to have James Toler, owner of King James Lending, join us to share options, insights, and tips on hard money lending.

This month we are thrilled to welcome Cody L! Cody owns nearly 2,000 units and has been investing in Houston for 15 years as a solo principal. Cody has done it all, from single-family homes to 300+ unit buildings. He's invested mostly inside the 610 loop. Cody's experience in buying badly distressed properties along with past and current success makes this month's meetup one you definitely don't want to miss!

This meetup offers the opportunity to learn, network, and grow alongside like-minded individuals. Mark your calendar for Wednesday, May 22nd at 6:30 pm and ensure to join us. We have reserved time for networking at the end of the event, but we welcome you to arrive as early as 6:15 pm to network before the event officially kicks off.

See you there!

Like @Shanequa J. said, put it on Zillow. Even if you don't post you accept vouchers you will get folks asking if you do.

I have never heard of that website, so probably many other folks haven't as well. Everyone knows Zillow though. 

It is easiest to park in the north parking lot and enter from that side (red arrow on the map). The event room will be on your left.

Please try to arrive on time as the doors are locked after hours.  

Looking forward to seeing everyone!

Attention real estate investors in Houston! Don't miss out on our 14th REI meetup event. Each of our get-togethers takes place on the 3rd Wednesday of each month and spotlights a talk from a unique real estate investor or industry professional in the Houston market - this presents a golden opportunity to gain invaluable insights. There are no sales pitches, only actionable, ethical investing advice.

Last month we were privileged to have real estate investor Jimmy Marks present on buying and managing rental properties including case studies and details on how he bought his rentals.

This month, we are excited to have James Toler join us! James is the owner of King James Lending in Houston. We have received many questions about funding deals, lending requirements, rates, etc., and so we are bringing in an expert to present on the topic. If you have questions about fix-and-flip loans, cash-out refinancing, transactional funding, or just about hard money lending in general, you won't want to miss this one!

This meetup offers the opportunity to learn, network, and grow alongside like-minded individuals. Mark your calendar for Wednesday, April 17th at 6:30 pm and ensure to join us. We have reserved time for networking at the end of the event, but we welcome you to arrive as early as 6:15 pm to mingle or network before the event officially kicks off.

See you there!

@Sam Peterson I won't speak to 1031s as I have no direct experience, @Dave Foster can give you more insight there. You can make the BRRRR strategy work in Houston, but it depends on the deal. I'll give you an example last year of two houses I bought - one I kept and did a cash-out on in August, and one I ended up flipping and selling in September.

1. Flip: PP $185K, needed about $15K to make rent ready. It would have rented for $1,800 a month. With a cash-out, I could have pulled my initial investment out, but I would have been losing several hundred dollars a month to expenses. I am ok doing a BRRRR and taking a break-even when CAPEX and repair numbers are considered but not one that is losing money every month. I could have decreased my LTV to something like 58% instead of 75%, but then I would have left 10s of thousands in the deal just to break even, which isn't a good COCROI. Instead, I sold and made ~$45K profit. I do have to pay taxes on the income, but some of that I can offset with expenses from other rental properties.

2. Rental: the one I kept as a rental had a PP of $55K and cost $140K to rehab. It appraised for $310K. On it, I did 75% LTV and pulled out $27K on top of my original investment. I rented it for $2300 per month. Now, the market rent over there is $2,100 for a house in that condition but I was able to get to $2,300 because it had an additional large detached garage. Instead of just including that, I offered to rent it for an additional $200 per month. It was a huge selling point as there are a lot of folks that want a shop, or need a storage unit for their stuff and the cost is at least as much per month.

I have a 7.5% interest rate loan on the rental. It is break even deal with just PITI, not including repairs or CAPEX...now you may be wondering why I would do that when I just said above I wasn't ok taking a break even deal. The reason I am ok with that is because I just spent $140K and updated everything - electrical, plumbing, roof, HVAC, windows, etc. so costs should be minimal for a while. In addition, I also have the $27K I pulled out on top of that as debt (which isn't taxed) which should cover any costs for the next decade (assuming I still have the property and haven't done a refi)

BRRRRs are harder to do right now because of high interest rates, higher median sales prices, and increased insurance costs, but still possible with the right properties.