All Forum Posts by: Tim Shin

Oops, I meant to say the guys I use are probably more expensive than Steve Newsome.

@Rashid Ghafoor

 I'm not sure if it's a slow down, but I have been seeing fewer properties be listed and those that are are over-priced and sit for a long period of time. 6-month sold comps for those houses sell for a lot less and I think people are weary. But that could just be my neck of the woods here around 610 north.

@Jordan Johnson

 WELCOME TO BP! I hope you like it here and I hope you really start listening to the podcasts. Have you gotten a chance to read @Brandon Turner 's book on Investing With Low and No Money Down? I have and it was great to get me in the mindset. My wife and I are looking to house-hack a duplex up fourplex also and we're getting close to our reserve stores and we'll be looking to buy soon. 

I know you're in Pearland but where are you looking to actually live in MFH? I've been keeping an eye on several neighborhoods and can probably tell you if you're going to have a hard time finding them. I hope you aren't looking to leave Pearland especially since you've got Killen's BBQ out there... 

Anyway, hope to see you at the Houston BP Monthly MeetUp that @Charles Nguyen

 tells everyone when and where it's going to be. Follow him and you'll find out. We're also in the MeetUp app as Real Estate Investors of Houston. 

Let me know if you have any questions.

@Juan Perez

 Hey Juan, I just welcomed you in your other thread. I hope we'll see you at the Houston BP meetup that @Charles Nguyen puts on once a month. Next one will be in July I'm sure. You may find people looking to do more 50/50 deals. Lately I've seen some local outfits advertising apprenticeships which might help you on your way if you lose your job.

Hope this helps. 

Cheers,

Tim

@Juan Perez

 welcome to BP. I think you might need to listen to some of the shows which have people talk about attorneys and corporations. I believe in asset protection and am risk averse. I do not have the time or the wherewithal to pretend to be a lawyer in my spare time to try to form an asset protection structure on my own and keep up to date with all the rules and regulations required to be compliant and within tax law. Therefore, I chose to use a set of attorneys and CPA's to handle that for me. They alert me to new changes in the tax law and when I need to do certain things to reduce my tax liability. However, they are not cheap and maybe less expensive than Steve Newsome. I know he's supposed to be pretty good. In my opinion, you get what you pay for in protection so don't go cheap. 

Use someone familiar with real estate law and with asset protection. Most people here like the book Rich Dad, Poor Dad. I love it and I like a lot of their other books. I suggest this one: Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad's Advisors) by Garrett Sutton. You may find that a sole proprietorship LLC may not be in your best interest or it might be the perfect structure.

I hope that helps. Let me know if you have any questions. 

@Paul Johnson

 Welcome to Houston and BP! Put up a pic and let's get to know each other. I hope we'll see you at the next BP Houston Meetup in July. Follow @Charles Nguyen if you want to know when the next one will be. He's usually the scheduler. 

I like your strategy. I also, do not intend to quit my day job but love the idea of REI!

Hi @Angelo Foster, welcome to BP. I hope to see you at next month's Houston BP meetup. If you follow @Charles Nguyen you can find out when it's happening next. 

My recommendation is that until you figure out how to find if a property actually is vacant (it sounds like you don't want to buy a list), go look up the address on HCAD.org and see if the owner address is one and the same as the property. That should give you an indication if its non-owner occupied. Write a letter and send it to them!

Good luck, let me know if you have any questions.

Hi Shanequa, no I didn't figure it out! Thanks for checking in. Has anyone gotten anywhere with this?

Awesome @Charles Nguyen ! Thanks for putting it together. I'm looking forward to seeing you guys. It's been much too long. Hopefully all the vets and newbies will come again and just chat. It's really simple, a great place for asking questions. 

I thought it was a blast! I'd love to see more people there and I'm happy to help in any way I can.