All Forum Posts by: Simon Shih

There are some investors that do not agree with this, but if you are wanting to invest in real estate...Never pay retail.

A hot market means that retail houses are selling quickly. If you buy a distressed property and flip it, then you shouldn't have to wait long to sell. It means that people looking to move and buy a new house are paying market price. It means if you are wanting to sell your family home that it won't be on the market long. It does NOT mean that you should have to pay retail or more for an investment property. 

$26 dollars is not much of a return on your money and CAPEX is not something you add into your numbers.

Based on some of the things I'm seeing, you should do a little more research and educate yourself a little more before you drop money on your first property. 

Agreed, but when? I work in the industry and I'm hearing 60 a barrel by 2017 and I hear 10 a barrel by 2017. The longer it's where it's at, the worse this shall be.

These are the headlines of my new issue of Houston Business Journal. Is this the start? Over 250,000 oil and gas related layoffs in 2015 and more coming. My busy as hell 2016 is now a, I hope I can stay working all of the year. Can't link to the article because it's a paid subscription.

Your opinions?

My suggestion is to talk to a local bank. Not one of the big banks where you are nothing but a number. Talk to them about your situation. Local banks are willing to work with you. With your job, equity in 3 properties and rental income, I think you might be able to finance a deal. Make a list of banks and then start talking to them.

Welcome to BP @Jarrett Phillips. Good luck on your endeavors.

Awesome story. So what did you do with your profit? More real estate I hope?

Ponzi Ponzi Bo Bonzi.
Banana Fana Mo Monzi
Fee Fi Fo Fonzi
Ponzi!

What kind of help are you looking for? 

I bought my last house all cash wth no agents on either side. I used the Texas Real Estate Commission contract (1-4 Family Residential Contract). After I got all signatures, I sent it to the Title Company and if they needed anything added or amended, they let me know. I had to add a couple amendments on who paid the taxes for 2015 and an amendment for no survey. The title companies are really helpful in assuring that all i's are dotted and t's are crossed and everything is legal.

Finding the deal is harder. Definitely.