All Forum Posts by: Sharon Tzib

Welcome aboard, Sami! Lots of us Houston folks lately. I'm looking at the MFH in Houston too. Good luck!

I signed up for the meetup group. When I move there end of this year can't wait to join you guys!

Hey Cameron! I'm gonna be relocating to Houston real soon myself. Will be getting into the multi-family segment.

If you want to find off market properties, besides joining a REIA as Eric already mentioned, you may want to look at employing several different wholesaler tactics yourself, such as driving for dollars or list mailing campaigns. Of course, all this depends on your budget, but it's a great way to get started.

Two premier wholesalers on this site are Sharon Vornholt and Danny Johnson. Their websites are chalk full of excellent marketing ideas to find motivated sellers.

Good luck!

I just read a guru ascertaining a tax strategy for commercial properties.

He said in order to avoid paying the large transfer taxes which result from the sale of commercial projects/properties, buyers frequently request that sellers deed their property into an LLC (that the buyer creates & pays for), and then the buyer purchases the LLC (the original purchase contract is in the name of the yet to be created LLC), instead of the actual "building" itself.

First of all, is this a legal and legitimate strategy? And if so, will it work in a multi-family purchase?

Hi Robert! I'm going to be moving to Houston at the end of the year, so I've been doing a lot of market research from afar (can't wait to get on the ground). But I've found these sites quite helpful:

http://www.har.com/

http://www.chron.com/

http://www.houstontx.gov/

They really keep you in the loop on what is going on/planned in the Houston area and provide useful demographic info/stats. Hope this helps!

Sharon

Hi Lashinda! I'll be moving to Houston at the end of the year to re-start my REI, specifically multi families. Good luck!

Dion DePaoli thank you very much for the explanation of yield and other calculations - I was quite confused by Kenny's reply, but you cleared all those errors up.

I was wondering tho - am I doing the math wrong? Wouldn't the yield in your above example be 26%? Thanks again.

Richard, Google "apartment manager jobs city state" and jobs of this type will come up on www.indeed.com etc.

There's a questionnaire for this purpose in the BP Resources File Place.

Hey Erin! Congrats on your purchase. I can't really speak to your financing out of a FHA loan, but I'm curious as to what you feel has attributed to the large amount of appreciation ($111K if we use the low number of $480K) over such a short period of time, since you've only invested $20K since purchase on renovations?

Also, I noticed in your HVAC forum post you stated you pay for the electrical. I don't think you factored that into your cash flow above (or any other utilities you may pay). That's gonna take a huge chunk out of your bottom line - are your units separately metered? If so, you should change the leases soon as they come up for renewal to have the tenants pay for that.

Good luck!