All Forum Posts by: Stephen Preston

@Kyle Mccaw thanks Kyle, I've known Blake for years, will definetly reach out to him! 

Hi:

As a Canadian, I started doing my first flips in Texas paying 16% hard money as I had no American credit or track record. That was 7 years ago, and I have since been able to get 70% LTV financing on my longterm holds at around 6%.

I have heard that lending is getting looser and looser and that there may be loans available up to 85% LTV. Anyone have any recommendations for lenders that do portfolio loans in the Houston area? Now seems to be a good time to see whats available.

Thanks!

Stephen

Hi Justin: 

I live in Calgary and have been investing in Houston for the last 7 years. A few pieces of advice:

- if you intend to hold onto these properties for any length of time your property management company will become one of the most important components of your team. You can't always be on the ground so you need a property management company that has your back.

- make sure to get good cross border advice from an accountant/lawyer on how to best structure your purchases to minimize taxes and reduce liability. 

Best if luck! I think you are making a good decision in venturing down to the USA.

Stephen 

Hi everyone, thanks for your responses. I will have my business partner Adam reach out to you all and will send the information. Thanks! Stephen

Hi all, thanks for the responses. I will follow up shortly.

Stephen

Hello:

We have a portfolio of single family rental properties in Houston that we would like to sell. I am looking for a bird dog, wholesaler, realtor or other investor that would be able to help me sell these. There are a total of 9 properties, 7 are currently rented with the other 2 being renovated. 

 
If you think you would be able to help please email me. I can provide further details at that point and we can work out a mutually beneficial arrangement.

If you are an investor looking to pick up a portfolio with financing in place please also contact me.

Thanks for looking!

Stephen

Hi guys: I'll get this done As soon as I can - just have a sick 9 month old at the moment.

@Mike Flora

I dont know if such a book exists, though it definitely should!

I have been to over 30+ tax sale auctions and have seen first hand amateur investors lose their shirts bidding on properties without doing their DD. I am interested to see if anyone else can name a book on the subject. If not, id be happy to provide a bulletpoint guide to help you out. 

Hi @Brad Denkhaus

Is the property you are buying being listed at a tax sale auction or is it a foreclosure?

As a general rule of thumb I do not buy vacant properties from Tax Sales as there are just too many variables when you can't actually walk through and get a good look inside. I want to make sure the properties I am buying at auction are lived in so I know they are at least habitable.

Just my opinion, goodluck!

Hi @Edgar Campos

Completely agree with @Matthew Foucheaux. Its amazing what can happen when you get out there and network.

In addition, start looking at deals immediately and get familiar with the numbers in certain areas and rehab costs. Bigger pockets has some great resources on this. The earlier you can start analyzing and crunching numbers the stronger you will be.

Good luck and you are in a GREAT market for flips!