All Forum Posts by: Ronnie Sparrow

My wife and I created an LLC for our real estate through an attorney. We have had our LLC now for two years and It has worked out great for us. Call me or email me and I will share the attorneys contact info that we used.

Don't know Mike, Sounds like maybe an attorney can chime in here and set us all straight.

Open house on Thusday 1/29/15 11 to 1pm.

Appraisal on 12154 Piping Rock is $370,00.

My apologies I forgot to give you the address to the property.

12154 Piping Rock Houston, Texas 77077

Here are the details for the flip off of Westheimer:

ARV $360.000 Rehab $20,000 Sales price $275,000

This property is in a great location in Houston. It has a pool, 3/2.5/2. 

Square footage is 2822 by HCAD

Rehab includes: Tile in kitchen and living area, inside / outside paint, update two bathrooms. See video links below. 

Call or email me for showings: Ronnie Sparrow 281-468-2601

Inside

http://youtu.be/CYEIShqRrEA

Outside

http://youtu.be/KrfHvkBVquA

I have a nice flip property coming up in the next day or so. It is located of Westhiemer in the 77077 zip code. Will post the numbers and details in the next day or so. Stay tuned and if interested PM me and we can hook up. 

Amy what I do is buy In my personal name and the refinance in my and my wife's name. Once we make a few payments with Fannie Mae, we transfer ownership into our LLC.

Yes there is the due on sale clause but as long as payments are being made they will not call the loan due. Trust me this happens all the time. Of course I consulted with my attorney before I started using this strategy.

In my mind the best financing you can get is a Fannie Mae loan. I am closing on my seventh property this month and this will be my seventh Fannie Mae loan. My cashflow from all seven properties will $4,100/month. I buy properties for 50 cents on the dollar or less. I use private funds for the acquisition and rehab costs then refinance into a Fannie Mae loan within two months or less. My out of pocket costs are only closing costs.

Yeah contact Steve Newsom he is a well known re alp estate attorney within the investor network. He does all my private money loans.

[email protected]

My goal for 2014 was to buy two rental properties and make 20k in wholesale fees. Well, I am closing on my second rental property on December 29th, just in time to reach my goal. As far as my second goal for 2014 I made 10K in wholesale fees in November so I missed this goal by 10K. But what I did do was to raise $270K in private money. So considering all this I feel proud of what I did accomplish is 2014. I am still thinking about what my goals will be in 2015 but as soon as know I am going to post them here.