All Forum Posts by: Ronnie McClain

Hey Jared,

Nice chatting with you.  Could you send me some photos or listings of some homes you have built?  I spoke with my guy and he is interested in what you have to offer.

Thanks.

Hey guys,

You're all correct, Austin is a hot market and it is tough to find the deals but it definitely is not impossible. I've been doing my thing here for a little over a year now and I've actually had just as much success with the properties I find off market as I do on market. Actually the last 3 deals I have gotten for my investor were off the MLS - obviously negotiated down but thats the key, negotiation and I am good at it. If the numbers work the numbers work it doesn't matter where it comes from.

Thanks for your reply @Chris Holmes I will be sure and get you in my database!

@Will R. what zip codes do you prefer and do you have a price ceiling?

@James Syed do you invest here in Austin at all?

Thanks ahead of time guys!

I have a 980sf house for sale in Austin, Texas that needs to be moved.

1120 Reagan Terrace

Austin, Texas 78704

The property was purchased recently and the plan is to build condos on the lot, but the house is in such great shape that we hate to see it get torn down.  It was built in 1952 and has all original hardwoods.  Last owner lived there by himself and took great care of the home. 

Let me know if you are interested.

Photos coming soon.

Hey A.D.,

I would suggest checking out meetup.com and find some local wholesaling/investor meet ups that match the criteria of what you want/need to learn.  I would suggest staying away from any "mastermind" groups and stick to the informal, open discussions.  I have found these meet ups to be an invaluable resource for everything real estate whether you are a beginner or pro in this business.  You'll come to learn that in this business what comes around goes around, so a seasoned investor that sees potential should welcome you with open arms in your learning process.

Hello BP!

I hope this post finds you well. 

I am reaching out to any and all cash buyers in the Austin area.  If you could take a second to answer the following questions or just provide some general feedback on what kind of properties you are looking for I would be happy to help you find them.  

I do my marketing in house so it allows me to target certain areas at high quantities which has worked well for me and I see no reason it can't do the same for you.

1.) What is your investment strategy? (buy&hold, fix&flip, new build, vacation)

2.) Which zip codes do you prefer (or don't prefer) ?

3.) What scope of work are you most comfortable with? (cosmetic, gut, tear down)

4.) In what price range are you interested in purchasing?

5.) What is your target renovation budget?

6.) What is your $/sf for new builds? (If applicable)

If you would like to meet to discuss further and are in my area I would be happy to do so just let me know a time that works for you and I can make it happen.

Respectfully,

Ronnie McClain - Agent.

Should be a good one. Excited to see everyone there!

Found a loophole!

For future reference, in the demo permit app. it states...

? 1. Owner authorization/signature, NOTARIZED at the bottom of this page OR a NOTARIZED letter of authorization from the owner giving the applicant permission to apply. 

which means we (our company) can fill out the app and go through the process without him having to do it which was his main concern. He just didn't want to mess with it.

Anyways, that is good news :)

@Lynn Currie

Essentially, he is under the impression that demo permits are not necessary due to the fact that a couple of builders that have built in the area have spoken with him and let him know that they would not have any problem closing without a demo permit in hand. 

When I asked what they (the builders) would do if they close and found out that that place was carved by Frank Lloyd Wrights bare hands and could not be torn down, his reply was 'well they would just turn around and sell it on the MLS since it is a good deal.'

We have considered this as well but we would end up losing money to closing and holding costs. The numbers don't work for a straight renovation, either. It has to be condos and we have to be 100% sure that they would work. So, I let him know we just can't take that risk.

Sounds to me like maybe the builders are trying to get a competitive edge by making their offer seem "cleaner". Either that or they have bottomless pockets and don't mind taking that risk. Either way it is not how we go about business and for good reason.

I am a bit surprised by his reluctance to sign a permit as he has been a broker for over 30 years in Austin. Also, we have been in talks with him for over a month now so he could just move forward on another offer, but he likes us and wants to work with us but does not want to supply the demo permit. 

I really don't understand it :/

Thanks everyone.

@Lynn Currie that is kind of where I am at right now. If I can't find what I am looking for without demo permit then we will have to walk away, unfortunately. It is a great deal but for whatever reason our competition has led him to believe demo permits are not necessary which in turn has made us look too "pushy" so to speak. 

Grr...as you can imagine my frustration.

Sure, I guess you could find a company that over looks that kind of stuff (which I find unethical on so many levels) but at the end of the day you would still need that demo permit in your name once you submit your plans to build the new structure as the city requires proof of demo. They would flag the new build until they had that permit and if that permit is not in your name then you can't move forward with the build.

So his risk could be that we would demo the house if we found a company that would do that without proof of ownership, but then we cant do anything with it. We essentially paid to tear down his house and if that is the risk he is concerned with, well I am at a loss because our risk is much larger.