All Forum Posts by: Valerie Watson

Hello Chris.  Have you had a chance to set up our next meeting?

Following.  I'm seeing some deals that are about the 80-85% threshold.  However, they are newer homes (less than 5 yrs old) and have defaulted.  The two I'm looking at require little to no renovations and would rent at the 1% rule.  Thoughts?

Valerie

I'm looking forward to seeing everyone. 

Jeff, Thank you so much for the information.  You are exceptionally organized and provided a well thought out response.  I am actually just in the research stage and am looking for information about the different avenues of being a lender (several of which you listed above).  I'll definitely look into the AAPL association. I also appreciate the advice to visit with a lending attorney as well as to attend the upcoming conference.

As for the local groups, I'm pretty good at filtering the riff-raff.  I've actually visited four real estate investment groups in my area and have only been impressed by one (a BP member in Frisco who does a regular meetup). The other 3 have the feeling of bait/switch in trying to gather members and utilize/take their money to make themselves richer.

I'm learning, growing and am probably a bit overly cautious before taking an actual action.  Therefore, I will definitely be careful.

Thank you again for all the info.

Valerie

Booked on Monday th 16th but, would love to meet up with your group again on another evening. 

Valerie 

Good evening BP family.  I am in a position to potentially become a hard money/private lender and am looking for a company with whom to join and utilize their services as a lender ~ not a loan recipient.  I realize there are an unlimited number of companies out there who provide this service as I can find them by the dozens.  In helping me find a quality, reputable company, I am wondering if any of you have experience in that arena and can provide some advice on what to look for when choosing a hard money/private loan company.  Thank you in advance for your knowledgeable and helpful insight.

Valerie

Good morning Curtis. In BP, go to the "network" tab at the top of the page and then select "events." You will be able to search by city or zip code. You can also look on meetup.com and search for REI groups. Good luck.

Valerie

Just a quick update. I learned another "lesson" by watching the Foreclosure Auction list - all three of the houses I was interested in (The Colony, Little Elm and Lewisville) were "removed" or "cancelled" from the auction. It is a little disappointing as I was hoping to watch them be bought and then would follow to see the rehab and rental. Alternatively, I can't help but be a little hopeful that 3 families saved their homes. :) I did quite a bit of research on each property and any one of them would have been a good BRRRR according to the "numbers." So, the lesson I learned is to keep looking and to broaden my search as it truly is a numbers game. Let's just hope I don't have to go through 100 to get 1. Thank you all for the support, advice and help. This is starting off to be a great adventure.

Kenneth, I would house-hack if the correct opportunity arose. I'm actually open to either scenario at this point. Finding a cash purchase Auction property that I could BRRRR would be my preference. I would live in it while the renovations were taking place if it was habitable. Then, I would repeat the process. I'm not afraid of a little dust.

~Valerie

Hello local investors.  I'm new to the area as well and am also looking for MFP or SF homes to invest in to keep/hold.  I'm in-between newbie and investor as I've house-hacked and sold two properties to create the capital to move on to successive investments. I'm looking in the Corinth south to Lewisville/Carrollton/The Colony/Hebron/Plano/Allen areas as the homes are older and the property taxes are held at about 2.25% (ish).  I would even be interested in the area north of the 380 except the traffic from there to get down into Dallas is horrific. There are also several duplex areas that would be C to B type tenants. It would also be easier to house-hack in that area as there is access to multiple services and venues.  I haven't found anything yet but, I am working diligently to learn more about the area, meet new people and help out where I can.  

~Valerie