All Forum Posts by: P. Martin

I'm definitely no expert, but if your purchase, rehab and rent numbers are close then you may not want to write it off just yet. It sounds like a good possibility for buy and hold.

*giggle*

Say you own your own home, and looking to get started investing. If you are licensed, or I suppose working closely with an agent, could this be a good way of generating leads?

Has the property increase in value since you locked in the purchase price? Is it worth more than the purchase price?

Look and see what is available and what has been sold nearby. I know of an area in Dallas where habitat has built something like 20 homes on 1 street but market values are still next to nothing if you look at sales activity nearby. If you buy and hold even if the area comes up and appreciates you still need to compete with the sales price of any nearby habitat home being resold.

When you say invest what would you plan? 

 The other part of the post you are referring to was "in a new city." I do not yet have mls access. Most of the past year for me was living at an oil well in the middle of nowhere.

Also the poster asked appraised value. 

Could you compete? Or would you be faced with trying to compare prices of heavily subsidized houses. Keep in mind Habitat is receiving the prop for next to nothing and then rehabbing with donated labor and subsidized materials.

Also what would your comps be? Habitat homes are usually from what I have seen in depressed areas with little sales activity. 

You then need to consider the resale and price restrictions in place on the habitat owners.

i don't know if we are just bumping into semantics, but in this context there would be buyers not tenants.

In a seller finance arrangement the property is deeded to the buyer. They are the new owners with all the rights and responsibilities as owners. 

Perhaps you should obtain your license and set your commission as you see fit.

 I'm not sure I understand what you mean in your first bullet point. If I seller finance the property then I would not be dealing with tenants?