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All Forum Posts by: Rocky V.

Rocky V. has started 24 posts and replied 744 times.

Post: Takw my 300k property off the market for $100. Option fee??!!

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

$1,500 is a very high option fee for a typical home buyer.  It is normal to ask for $100-500 for a 5-7 day option period to perform inspections.  Also get $2-5K EM that is non-refundable after 21 days. 

Post: Should I finish my college degree?

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

Do both.  Don't limit your thinking, be productive and achieve success when others your age are partying.  It took be 6 years to get my degree but in that time I purchased several rentals and always had something to fall back on.  

Post: "Close is 3 days" How so?

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

This is just used as a bait to get the lead.  I like to say I can close as fast as Title company can get me clear title.  This usually takes 3-5 days if there are not any issues. 

Post: Apprentice Plumber curious about Real Estate

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

@Joseph Beltran  Your first appointment should be with a mortgage broker but I would slow things down if I were you.  Focus on getting your Masters license.  There is big money to be made as a Master Plumber who does quality work at a reasonable price.  Save, save, save and when your ready I would suggest as @Max T. mentioned.  Make sure you have plenty of money set aside for unexpected costs and don't overdue it on your first acquisition.  Best of Luck!

FYI - This is coming from the son of a Master Plumber of 40+ years.

Post: Which cities in the US have the best rental properties?

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

@Dan G.  Did you ever pull the trigger?

Post: Tub Refinish or Replace?

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

This is a pic of the bottom of a tub.  I had it professionally repaired and it was left immaculate.  Definitely recommend refinishing by a professional.  My cost was under $500 for this repair and refinishing entire surround and tub.

Post: $1.2 million 10 plex generating $6,850/month - REALLY!!!!

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

@Nick B. Actually in Plano so I can see an appreciation play on this one but I personally don't speculate on my investments and only buy for cash flow.

@Caleb Heimsoth I just picked up a small SFR outside of DFW for $15K. After $15K of rehab I can rent for $700 which makes more sense to me. There are still deals out there but anything less that a 1%er is not for me.

Post: $1.2 million 10 plex generating $6,850/month - REALLY!!!!

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

Just received a great deal across my desk......lol.  10 plex in DFW for $1.2 million and generating a meager $6,850/month in rents.  Are people really paying these prices?  If so I have 30 SFRs for $7 million.

Post: HELP!!! Trust agreement is lost and title company will not close

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

Good news!  I was told that all I need to do is submit a Re-execution of Trust Agreement.  Does anyone happen to have one they are willing to share to save me time @Aaron Mazzrillo.

Post: Can cash buyers cut off the wholesaler?

Rocky V.Posted
  • Rental Property Investor
  • Arlington, TX
  • Posts 788
  • Votes 640

@Travis Quickel If an investor tries to go around you they have probably not been in this business very long.  Any business is about building long term relationships.  I've never tried to go around wholesalers.  I realize they have spent money and time generating a lead.  I'd rather spend my time elsewhere, not marketing to generate that next deal.