All Forum Posts by: Naz Hossain

Hey Molly congrats on getting your license! See unfortunately NetWorth and New Western has gained quite a reputation amongst investors. They are large companies with large overhead and their "deals" only cater to the desperate or the ones with too much money. You can tell everyone otherwise, including myself, but I know for a fact that the chances of me buying from NW or NWA is slim to none. So you DO have an uphill battle ahead of you. 

I think, you'd need to show how you can bring value to the investor. Bring them something, a deal or hard money lender or a new strategy so they WANT to meet you! Don't just say that you will bring value. Show them how the numbers work. 

All the best! 

Welcome to the San Antonio area! You're making a great decision investing in San Antonio. So much growth and so much more potential! To be quite frank - the way the market is, new builds are almost going for the same price you'll find a fixer, spend time and money and get it up to standard. 

It really depends on your bandwidth. Do you have the time, connections and resources to manage a fixer? Or do you want something without the headache of fixing it up. Both works! But it really boils down to what you are comfortable with. Being out of state has its own set of challenges but definitely do able! 

I wholesale on the side so if you are looking to get into some fixers, I can send you some I can't manage. I also do new builds and pre sale some. So either way, I can help you get into something. If nothing at all, I can point you in the right direction depending on your strategy! 

I can introduce you to hard money lenders, refinance lenders and contractors

@Alex Guerrero one thing to consider - there are two ways to increase cash flow. Reduce expenses or increase income. Since your expense is pretty much fixed you can look to increase cash flow. 

Since you lived in the house, i am assuming its furnished. If you are looking to move out to another home or rent another place elsewhere, can you leave the furniture in the house and rent it out as a furnished rental? You can bring in more income that way. That is what I am doing with my primary which i moved out of recently. 

Hope this helps!

San Antonio is like a hidden gem. Very overlooked but its creeping in. Everyone's focus is on Austin and rightfully so. Austin is awesome. It's home to me. But the path to progress is in that I-35 corridor. Prices now are inflated but even when prices do come down/stabilize San Antonio will see a good growth. 

If anyone is looking for off market deals, shoot me a dm, I do wholesale a bunch of deals and always come across some gems that I do not have the bandwidth for. And for those wondering, no im not with New western or net worth. I just market for myself and sell those I cannot keep. 

Hope this helps! All the best!

Hey David congrats on your first home purchase! and welcome to BP! The biggest thing you want to find out is after putting in 15-20K of work on the yard/exterior - how much would it really bring up the value of the property? I think you might be over cooking this. Private lenders, most likely in your case will be hard money lender since this is your first property OR if you have friends or family who can loan you that amount. But if you chose the hard money route, most lenders will have a 6-18 month term and they will under write the loan based on comps. 

Here are some things you need to consider 

1 - what are comps showing in your area

2 - how much does the sprucing up of your exterior really return/bring up the value of your home

3 - will it change the rent amount (talk to a property manager, IMO, it won't change much) 

4 - is the rent you are planning on asking supported by rental comps in the area?

Everyone's situation is different and your area might be different as well but it might be best for you to live in for a year and put some sweat equity in to spruce up the exterior yourself while living there.

Yep. For sure. You can try to cross collateralize your other 2 rental properties if they have enough equity in them and use that as down payment. Many different ways to go about this. Just have to start getting creative! Hope this helps you a little!

if you purchased it all cash, you have 2 options available to you - 1 you can cash out refinance and 2 you can do a HELOC. It depends on your time lines and goals on which would make more sense to you. All the best!

The interest rate compared to the amount you will cash out is insignificant. Remember, the market is always fluctuating, if interest rates do drop in the future you are able to refinance again - nothing stopping you but the valuation of the house which will enable you to cash out as much as you possibly can might only be for the next few months. Then who knows what will happen

The best place to find GCs is through recommendations. The next best is your city's GC license board. They have a full list of all GCs who are registered and licensed with the city. Check the recent permits they have pulled then verify that work. 

Redfin.com has the BEST UI to run comps. Sold properties + zip code and bang! you have a solid list of comps. In my opinion it is much better than zillow and realtor.com. But since you are going to flip - you should have a realtor. That can be very helpful to you