All Forum Posts by: Obed Calixte

 Heard.

Thank you for sharing!

I had this same convo with a lender a couple days ago.

70% LTV DSCR or commercial were recommended options for stabilized property.

Brian, 

Thank you for taking the time to answer our questions. 

Two questions for you:

When you look back at your career- what memories bring you the most joy?

And looking forward, what's next for you? 

From the very beginning- offering lease lengths that avoid ending during the holidays as much as possible. Take clear photos while it's vacant for marketing now and future.

Provide a win/win renewal rate and lease length to keep the good tenants in their homes to a more advantageous end date. 

If all else fails and we still end up with vacancy during the winter, start to market the unit earlier prior to turnover. Offer incentives with call to action as needed. Increase time spent conversing with each lead that you get to learn more about how they view the property and implement reasonable changes accordingly.

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

The floorplates and inefficient use of land (due to parking) make it difficult to create financially feasible and useful reuse projects. 

Since you're a licensed broker, this should be very easy for you to put into action on your own accord to test the viability.

Start marketing your own services at the .6% rate and track all your numbers (deals, time spent, expenses, income etc). Now you have real world numbers and experience to identify what works and doesnt.

You can then back in and see what you can reasonably can pay and compare that to the salaried/hourly pay that Redfin and similar companies pay their agents.

Maybe then there can be true discourse.

As of now, it sounds like any other discount brokerage, but with more headaches. 

"Through photography I have a few local connections I know that are doing deals and moving properties consistently."

That's your answer. Leverage your connections that are doing what you want to do. Bring them deals and partner with or shadow them. 

Also get involved in the local REI meetups.

There's been a few Houston developers on Biggerpockets podcast episodes.

One that comes to mind is Donovan Adesoro. 

Do your own due diligence and research however. 

Based on what you shared, your current residence is already a great jump start to building wealth. Safely leverage the equity and find a separate investment property. 

If you havent already, run scenarios with your lender to get an idea of upfront & monthly costs for getting a heloc vs selling and then purchasing a MF as a primary. 

Heard. That's easy enough.

I have a few that I've personally used and/or worked with for years that I can recommend, if you'd like.