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All Forum Posts by: Guy Gimenez

Guy Gimenez has started 48 posts and replied 1999 times.

Post: Xpressloans 911 IS A SCAM!

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

Based on the responses about this company, it appears there were so many red flags that were ignored by the loan applicants. This is exactly why telling people they should "just jump into" investing without some basic knowledge often results in a very bad outcome. It's sad that so many lost money but it's a lesson they won't soon forget. 

Post: Places to market owner finance properties.

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

@Joe S.

I never offer more than 2% on my investment listings and in 22 years I've never had a house that didn't sell because of the commission. In fact, I use a strategic marketing strategy that typically allows me to work directly with the buyer and not have to pay any commissions. Your goal by placing it in the MLS is to get eyeballs on your property, not be overly concerned about "offending" an agent. Don't forget, it's YOUR money.

Post: Places to market owner finance properties.

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

Use a discount broker to list the property so you have the largest buyer pool available and the most eyes on your property. Many discount brokers offer an a la carte type service which is quite affordable compared to traditional brokerages. And you'll get the benefit of having the property populate throughout the internet within 24 hours. I list every one of my properties including tear downs, non-rehabbed, etc. You can offer the buyer agent 1% to 2% which is absorbed by the buyer in your price.  

Post: Short Term Rental Sandis

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

Sandia is 45 minutes from Corpus and is definitely a sub-market. You'll want to see if you can locate a PM from Odem or Sinton as I doubt you'll find someone from Corpus that will agree to handle a single property that far out. 

Post: Body Cams For Property Visits and Maintenance

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

Better check Colorado state law as each state views "recording" differently. If a party is present during your property inspections, I would not use a camera without that party's written permission. If no one is present, and state law allows it, then why not? In the future, you may want to consider adding language in your lease stating that your property inspections will be recorded if the property if the tenant (or tenant's representative) is not present. I would also be very careful about who has access to the videos of your inspections. As most others have said, seek legal counsel before moving forward if you're not absolutely clear on your state law. 

Post: How to find Whole Seller to work with in Texas

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

@Aaron Bihl

Any investor who can't negotiate a deal with a seller is NOT a great investor. If you look at 90% of the wholesalers, there is more than anecdotal evidence that they are horrible negotiators...unless of course contracting a retail is considered a top negotiating skillset. 

Post: How to find Whole Seller to work with in Texas

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

@Joe S.

My point is that the leads will be meaningless if you can't monetize them, and you can't monetize them if they're marked up beyond what a seasoned investor can pay. By providing your leads to a middle man (wholesaler), you're adding in an extra layer of cost and inefficiency that isn't necessary. As an end buyer, I would be willing to have my assistants work the leads, schedule appointments to walk them, and I would contract on them as the actual buyer when the numbers make sense.

Post: How to find Whole Seller to work with in Texas

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

@Joe S.

Why would you want a wholesaler instead of a buyer? Your chances of monetizing those leads will decrease significantly if you're handing them over to the next wholesaler to mark them up and then throw a retail deal out to seasoned investors who actually buy property. Just something to consider. 

Post: Just had 2 AirBNB stays cancelled on me. Anyone know what's going on?

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

@Jedidiah Link

1.  Market saturation and competition

2.  Too many terrible hosts looking for a quick buck and not concerned about building a long-term business

3.  Nonsensical policies by AirBnB that harm the hosts and allow bad guests to get away with non-payment

4.  AirBnB deciding to enter the political arena

Post: Contingencies on off market deals

Guy GimenezPosted
  • Investor
  • Corpus Christi, TX
  • Posts 2,065
  • Votes 1,672

Depends on what you're trying to accomplish. Are you just looking to assign and therefore want the ability to walk if you can't assign it? Are you buying to hold and want to confirm property condition? What is your goal with a contingency?