All Forum Posts by: Tony Gunter

@Loan Tran

IMHO it has more to do with the property being offered by a wholesaler than anything to do with working with an investor. Standard verbiage from any wholesaler. If it is listed on an MLS works the same as it usually does, regardless of anyone being an "investor".

As others mentioned, approach these just like a FSBO.

Parting is such sweet sorrow...

NEXT!

Wait until your dead, the downside risks will have been baked into the cake by then.

Just kidding.

Your not ready. Take it in small bites that are comfortable for YOU. You don’t have to eat the entire hamburger in one bite. Partner up, tag along, etc. Keep filling up your knowledge bucket and it will spill over and fill your confidence bucket with time. You’ll know when YOU are ready.

Additionally, you must look at the back end numbers too. Just because it might meet the numbers required to make it a good BRRRR, doesn't mean it will make a good property to hold as a long term rental. These are two entirely separate evaluations.

In my area, and IMHO, I feel like the rent to home value starts to get out of whack on SFR's after you pass $150K'ish on the home value. Basically a +/- 1% rule situation. You may be able to support a property with much higher rents now, but the worm can and will turn. IMHO when it does turn the high rent places are the first to take the hit. I stick to simple people boxes for my SFR holdings personally. There will always be demand for these.

That’s what I love about real estate. A million ways to do it.

Like everything else in this business, you keep working on it until you find a way to make it happen. No never means no, it’s only not now, not yet, not with me, not with you, but never ever allow no to be the last word for you.

(Persistence + Determination) x Time = Eventual Success

Your mileage may vary...

It’s the tenants problem. Stay out of it or it could become your problem too. Your the LL, not their dad/mom, so they need to figure it out. Your lease is your only friend in these circumstances.

Not trying to rub salt in the wound, but foundation issues is one of the most common issues for existing construction in Texas.

Most common issues are a sinking corners on slab on grade construction. Expansion and contraction rates for the clay soil cause lots of issues. I lived in Denton a few years. Familiar with the issues.

It’s easier to find homes with foundation issues in Texas than it is to find a cowboy inTexas.

Oops! Seemed to have crossed the line regarding mentioning money, lending, borrowing etc.

An unintentional faux pax on my part...most assuredly.

@Vu Tran

That can easily be distilled down to a number. Figure what that number is for you and go from there.

Regular rent + 30% per month. IDK your number, but you get the idea. Theses may flake out on you anyway in the end.

This is great, but selling in a seller’s market, why would the listing agent even entertain an offer with an EC?

Maybe I’m missing something, but I don’t see the upside of accepting this clause for the seller.