All Forum Posts by: Ronnie Sparrow

You can have the seller provide you a sellers disclosure. If they know of any issues by law they are required to tell you about it in the disclosure. Try talking to the seller about any issues that he knows about. If you listen and let the seller talk, they will tell you everything you need to know.

This property has been sold. I want to personally thank everyone who showed up yesterday!

Peace,

Ronnie

Showing this property on Monday 12/14/15 between 10am to 12pm.  I will be there and so will the seller. Text me or call me if you are showing up.

1,000 non-refundable earnest money made out to me Ronnie Sparrow will lock the deal for you. 

Contract is already at the Texas Title.

This is a duplex that is currently lease until December 2016. These are long-term tenants and want to continue living here. There are some repairs that are needed but not anything which is major. For now only sheetrock and some sofit and facia repairs. There is a tub that needs replacing but the tenants are not complaining about it. This property will cash flow from day one. Call or text me for more information or to view the property.

Ronnie Sparrow at 281-468-2601

Well if I was in your situation I would look for a good deal on a foreclosed property possibly a duplex. Live in one half and rent the other half. Second choice would be to find a good deal on a foreclosure for you and your wife to live in, then start to save for your first investment property. You definitely need to have a plan and stick with it. Real Estate investing takes time and patience, it is a long term wealth building plan.

I have used builders risk policies before. They are short term and not cheap. If you are using private or hard money you need to bite the bullet and pay up. Always better to safe than sorry.

Jon, the seller is renting it for only 1,500 month. This is very much under the market rent for this house. I am sure the tenants will stay for that price.

The owners name and address appear on the top left of the form. Just send them a letter or go knock on the door if you have the time. This is usually the first step. But remember dont just them one letter, if you really like the property be persistent and consistent, send them at least seven letters one per month x seven months.

I have a great opportunity for an investor who flips properties in and around the Houston area. Located of I45 south on the way to Gavelston. This property in a large house 5680 sqft. sitting on one acre of land. This property is currently tenant occupied so showings will need to be scheduled through me and or the seller.

Here are the particulars of the property:

Address is: 6408 Avenue O  Santa Fe, Texas 77510

ARV 375K based on a professional appraiser.

Sales price 280K

Rehab is only cosmetic paint, flooring and some minor updates. Foundation, roof and HVAC are all good.  Feel free to contact me for a showing. We will have a scheduled showing this coming Saturday 8/8/15 from 8 to 12 noon.

Its really pretty simple. There is no need to make complicated. Just total up all your expenses including principal, interest, taxes and insurance (PITI). Then add in your other expenses such as HOA fees, trash removal, AC filters and anything else that you can think of that will cost you to maintain the property. Subtract these expenses from the rent you collect every month and the difference is your cash flow. Where I live we literally have had zero vacancies so I do not calculate a vacancy rate for my properties. In the last five years I have had no vacancies with my seven rental properties. I know this may change but every year is different. Hope this helps.