All Forum Posts by: Rick Pozos

Start the eviction, NOW.

Hey @Christopher Douglas I would get out and go to some real estate meetups and meet some people in person. There are a few big ones and lots and lots of smaller ones. I have a smaller group that is free and the larger ones are usually a few hundred $ per year.

What's wrong with Dallas?? Big city and you know the area. Stay where you have an advantage. I say this for your benefit. You know the good areas and bad ones in your area. It is too easy to get into the wrong property in an area that you know nothing about. 

Too many people want to go out of city of state because they are chasing the 'better' returns. The unknown is a big factor that WILL cost you money in the long run. Invest where you are.

Hey @Debbie Weber I am also in Alamo Investors. There are lenders that are sponsors who PAY to be included in the newsletters and are at the events. Use one of them. There are also a few other bigger lenders who do fix and flip loans here in San Antonio.

Let's start with the price. 490k for a two bedroom, two bath?? In San Antonio??

It sounds like they tried to use it as a duplex and someone found out. OR they were illegally doing STR. You could do a longer term mid-term, but still if it is single family, it's single family. It is going to cost a bunch to separate the electric meters and make it two units. This sounds like a high-end neighborhood. Neighbors are going to be in your business.

This should have been talked about or done MONTHS AGO. But yes, now that we are here, maybe let him know that if things do not get up to date or cleaned up you will go to his superiors.

When people are late right at the beginning, I let them know that the behavior is not acceptable and let them know there are consequences to that bad behavior. 

I did not read the other post. YOU need to know pretty close to what the tax people know. Maybe not all the details, but have a pretty good handle on what you are wanting to do, or what you think you should do. 

When the tax guy or the accountant says that you might want to do this, YOU should already know why you do or do not want to do this. Again, you do not have to know every line of the tax code, but have a good understanding of what happens when you do something. And make sure that you know this stuff for YOUR situation.

I have found a few properties that are located an hour or two from San Antonio. The small towns have several 1000 people. How do you find buyers in those smaller towns? We don't really want to do a rehab, we are looking to just sell as is. Do you just list the property with a realtor?

Why do people every day trade in their car for $10k to 15k less than what its worth to the new care dealer??

You dont know what people are going through and what they NEED to do. I have purchased a number of properties subject to the mortgage. They were usually in a situation that needed a quick fix. For them, that was the easiest and quickest fix.

Not many people will sell subject to the mortgage, but a few will. The hard part is finding the people who will. I usually make several offers when talking with a seller. One of them is subject to the mortgage. That is the highest offer. The cheapest is cash.

Get a job, quick!! AND THEN do all the things mentioned above. Go to RE meetings, learn more, drive for dollars, work EXTRA for a wholesaler, work EXTRA for investors. Get your 40 hr job to pay the bills and then work some more.

The beginning of real estate is not going to get you to financial freedom in a few months or probably not in a few years. BUT it is building the solid foundation for some thing big. This is definitely NOT get rich quick.

Get good at something. Whether it is construction, construction management, property management, sales, realtor, talking with wealthy people to lend you money, whatever. Have some skills that will help you in your journey.