All Forum Posts by: Shahriar Khan

Having tenant there should not be a problem if you are looking for a cash buyer. Assuming price is good you can do 1 or 2 showings and still sell to cash investors. If the house is small enough (~100-1200 SFQT )  just a drive by could be enough as well combining in inside pictures. Sent you a PM as well. 

Hi Ann ...building a house on pier and beam should not require any specialized builder.... its  a very simple process where work is really during design (civil/architect) and design work should not have  any additional cost as well ... A lot of height/independence height townhomes/houses are this way and there you will find national builder to customer low volume builder to smaller builder building houses on pier and beam .

Also (to me) there isnt anything call high end builder ..instead high end design ... cause all houses will be built by same set of folks BUT the differentiating factor will be in deign and/or layout ... pay close attention to that one and sit closely during civil/architecture drawings. 

Good luck and PM me if you needed any contact with local builder/architect to sit down and talk in details and i can connect you to some that i have spoken/worked with before. 

@Hadar Orkibi Welcome to H Town . From investor perspective 

3rd ward -- The boat has sailed for buy and hold .. there could be very tiny window to grab properties that would rent out economically .. This a great for buy and build to live . Great place for builders 

5th ward -- opportunities are available , i would say plenty but you need to be a bit more tolerant about current staging per say of the location . Buy and hold would be very profitable here . new build are already happening there which may not right next door but its happening .. Give or take 5 yrs or so and that are would change into moderate to high end ... North side of 10 is getting most of the new build and south is getting trickle down impact.  We dont much of tear down yet since plenty of land are available for sale . Caution is that current owner will know about all theses thus negotiating is harder 

Hope this helps . 

@Ruth Escobar good question ... let me put a bit of spin into all the great point that have been made here . For me 

1)  No builder makes good/bad homes ....Builder may have good/bad design SINCE almost all homes (60K to 10MM)  in Houston are being built by a group of very hard working team of people who are barely making a living. Quality of homes will depend on the SUPERVISOR  which is mostly LUCK ...  on that note brand of a builder should not matter (this is true mostly for large home builder NOT small builder in midtown/heights where Brand would matter) 

2)  Return on Investments should be risk adjusted. If we assume 1 out every 12 month vacancy for smaller houses then we should assume 1.5 months for a larges house . And if we buy right then , cash flow should provide similar return even after we change assumptions. And then you should stress test your assumptions to understand strength of your cash flow.   @Account Closed i always try to do a P10/P50/P90 :) 

Just my 2 cents   

@Ron Guerra  for Houston ... suggest that you sign up for RICH club and your info would shared amongst folks shortly... 

@Account Closed thanks .. I really dont see any issue with this ....following the rule is really "Disclaimer, Disclaimer and Disclaimer"

From selling/marketing (by wholeseller perspective), I think most of the wholesellers already follow this rule. All emails that i receive (as buyer)  , they already add this verbiage  in "Disclaimer Section" ... and i do it as well. 

From buying perspective (as a wholseller) : Just simple add a line in provision 11 stating something like 'this contract may /may not be assigned to a 3rd party by buyer listed on this contract for a fee'

To make it dummy proof... seller should ask Title Company to draft a disclaimer for buyer to sign ...

Now stepping back out of this new....National Association of Realtor has over 1.5 million members where everyone makes money out of transaction ... they also lobby strategically (hint there is a reason why Zillow etc still cant kick HAR/MLS out of business) which is why startups are failing to disrupt the process (at least for now) and this is merely another try to regain market share which i doubt will hold true .....

On that note, it could also reduce competition for existing wholesellers   ..... and i completely fail to understand why not everyone be a Realtor first and then wholesale with disclaimers. It should make negotiating easier :)   If you cant beat them ... join them :) 

@Luke H. i am working with Scott from studio-m6.com . He takes his time with clients and cost efficient. He is doing a feasibility study for a lot in Heights area as well. Feel free to let him know that i sent you .

Also since we are both working in heights area .. may be we should sync up sometime ...

I tried in Houston area and was getting quote from clayton homes for around 110K for 1500-1600 SQFT home (pretty nice looking,3/2 w/ front entry and deck on the back) plus  25k for installation (and beautification) . Too expensive for what i was trying to do... keep us posted. 

@Account Closed said. Syndication = financial trust .... 2 typical ways to get there 1) via school of hard knocks aka lot of flips/wholesale and people would know you that way and/or 2) institutional education and professional work experience for to know people who would trust you with money..... 

My vote is #2 ... it would give you a lot more leverage to avoid risk in future 

@Account Closed true about distance but again it about 10-15 min... Lets keep it for the first time and then we can figure out for the second one