All Forum Posts by: Stephen Benson

Nice to see the Longview area real estate investors are starting to grow when I got on here it was a handful of people at best but more are joining all the time. It’s good to meet you.

You want to learn about real estate agent and investing talk with David Benson he’s a realtor in Longview. Welcome to BP it’s a great place to learn about investing

David Benson Pinnacle Realty. He owns rentals himself, he’s done lots of flips and he is very successful and knowledgeable in the Longview/ east Texas market.

Hey from Longview also glad to talk to someone local. You said you draw house plans, is that what you do for a living or a hobby. Good to hear from you. You came to the right place to learn more about your desired path. Reach out if you need anything.

Thank you Judy H.

All I can speak for is Texas in my area we have to follow zoning laws as do most areas. But if we move out to the county just outside of town there is so much more flexibility in inspections and things like that. In Texas we don't have to have sprinkler systems on small multifamily properties. Also try talking to a commercial banker at a local bank they can do it so you don't even have to put money down. I am building spec homes right now and we are doing them with nothing down as long as we build them at 85% LTV. So what your thinking about doing is possible I would just make sure you do your research first then figure out the best way forward.

Like Kyle said I use Rentometer to start with on the my new properties then I call around the rental signs in the area. Another good way of doing it is talk to property management companies they know the areas very well. Good luck and keep plugging away.

Thanks Ed I'll look into the Century 21 program

What is that strategy that you learned?

I have been to a few auctions with other Rental property investors and most auctions have a reserve which has to be met for the bank to allow it to be sold. In which case the loans is satisfied upon the winning bid you are not responsible for the remaining part of the loan. What usually happens is if the reserve is not met then it rolls to auction.com or back to the court house steps with a little bit lower reserve and the cycle goes on until the reserve is met. Always check for out stand judgements on the home cause that is a different thing all together. Also if you go to a tax sale you have to check title on the property before you purchase it. hope this helps.