All Forum Posts by: Sharon Powell

@Kathy Payne

If you’ve already signed the contract and sent in EM, then you’re really past the point of acting on advice from an agent or attorney... unless you’re getting a title commitment and something odd pops up in the search that may pose a problem.

If you didn’t request a title company, there’s a good chance you agreed to use theirs in the contract. Once EM is sent in, the process goes pretty quickly, and you should be able to manage with just the property case manager telling you each next step leading up to closing. Congrats on your property!

@Michael Tyler

If you're doing a cash out refi, it could be causing complications depending on if you bought personally or as an LLC. I'll message you a great title company to add to your toolbelt.

@Brad Miller

I took all my classes online through Texas A&M but did exam prep in a classroom setting. The interaction was really helpful, as were the instructor’s insights into the exam. You won’t get that online.

The broker question is tougher. There are tons of brokerage models and each has their own fee schedule, splits, training systems, neato swag, and a sales pitch to recruit you. The two things I found to be most important were:

1. Know yourself. If you are self-motivated and don’t need someone regulating your business (ie desk hours), then look at smaller or boutique brokerages that will allow you more autonomy. If you need structure, then the big traditional brokerages will suit you better.

2. Know without a doubt that your broker/supervisor/a team leader will answer the phone.

There are tons of things to consider, but for me these were the big ones. Best of luck on your exam!

@Leslie Mangrum

I use erentpayment for payments only, but you can also use it for maintenance requests, expense tracking, and tenant screening. The down side is that it’s not free- you decide who pays. But to me, the up side and my favorite feature is that the tenant can report payments to help build their credit history.

@Konstantin Samorodskiy

The single mom became increasingly pushy during the application process, trying to get into the house quickly, and if all the red flags weren’t enough before, now ‘it was a no from me’. If she was already that much in my face, I can only imagine how things would have gone once she moved in.

So I moved on to screen other applicants and found the perfect tenant. She’s been there going on 4 years now... pays on time, takes care of small repairs, keeps an open line of communication, and wants to stay forever.

I dodged a serious bullet!

Two buildings- turnkey and cashflowing 

10 1Bed/1Bath units

Large lot- could add more units

Onsite laundry- could convert to coin operated

Currently a 14-cap. $750K.  Seller finance terms available upon request. 

Four properties/ 70 doors available as package or individually in Floresville, 30 minutes from downtown San Antonio.   Turn key, with value add, 100% occupancy, producing at 10.5 cap.   Asking price $9.25M or separately priced as below.  Please message me on BP, email [email protected], or contact me directly at 830-581-1020 if interested.

$1.325M/12-cap     7 units:  5- 2B/2B and 2 studios.  Corporate housing contract.    

$4.2M/10-cap        28 units: 19 studio cabins, 8 2B/1B cabins, 1 studio attached to office.  Corporate housing contract. 

$775K/12-cap        10 units: all 1B/1B residential multi.  Residential multi, commercial zoned land.

$2.975M/8-cap    25 units: 25 studio cabins.  Corporate housing contract. 

I agree with @Jason Hirko.   And I work with Albert Fuentes in San Antonio.  He is professional and easy to work with. 

Large National SFR bulk buyer has too many houses to sell. Looking to partner up on excess projects. Brilliant new Turn-Key exit strategy. This is not flipping, nor is it rehabbing. No one in the country is doing this right now. No cost, no fees, no gotcha's. The catch....partner must have financial wherewithal to participate in the buy side and must have provable experience. Current excess capacity is 50-100 SFR per week. Please message me for more details.

@Abel Lopez welcome to BP!  

I’m in LV as well, and there are several others on BP in our area.