All Forum Posts by: Waylon Themer

@Jerry Ta is my go to property manager.  He manages numerous houses in Spring including two for me.  Great rates on management, good tenant screening, and good prices on repairs.

thanks @Jerry Ta!  @Doug McLeod I would love to look at it for you. 75% LTV shouldn't be hard to come by as long as other credit criteria are met. Let me know if I can help

Thanks @Jerry Ta!  @Jordan Decuir I would love to have the opportunity to meet with you and discuss your multifamily investing strategy.  @Sharon Tzib William and I work together at City Bank.  This is a small world that you and I run in.  I suppose you and I should actually meet up rather than just sticking to the interwebs.  I hope your enjoying working with Tim and Adam!

Thanks for the mention @Jerry Ta!  These are a bit outside our market area but  I will suggest some Beaumont area banks to Tobi.

Banks within an hour drive time of the houses you are buying will be your best bet.  Look for Texas based banks with fewer than 40 branches and assets below $5 billion.  I would be happy to talk with you and give you some ideas as to who to work with.

@mim

@Mimi Booker The prices look about right to me too.  I would not recommend a home warranty especially since you just replaced the water heater.  I would recommend setting aside the $500 a year you would spend on a home warranty.  My main issue with a home warranty is that you are at the mercy of the warranty company to get things fixed correctly and in a timely manner.  Also there is a repair deductible. Really the only things they are good for are HVAC issues and Water Heater issues as everything else they cover can usually be done for a little more than the cost of the repair deductible.

The home warranty isn't a terrible idea since your AC is 10 years old, I just find it to be unnecessary insurance most of the time.

Hi @Lenna Groudan I would love to talk with you about your portfolio building strategy.  My bank offers what you are looking for.  

@Bryan C. it looks like you have $690k in property value vs. $450k in loan balances. It will be tough to pull out $100k as that will put you right at 80% before closing costs. Figuring closing costs to be around 3%, it looks like you could get about $50k out using 75% LTV portfolio loans. It may be tough to find a blanket loan because the properties cross state lines.

It looks like selling one or two properties is your best option to achieve the capital request.  Maybe sell the free and clear $50k property and cash out the $170k property.

Ostensibly is a fancy word

I'm not sure if he would be interested in the property location part of this equation but @Jerry Ta with PropertyCare would be a great choice for a property manager in Houston.  I have had  a great experience with him.  He may be interested in the property location services as well since he is a licensed agent you will just have to chat with him to see.

I have had good success with Randy Rhew as a Dallas agent and Jason Otts in the Dallas OneProp office for property management.  Bigger pockets isn't too keen on giving out contact info so you can simply google Randy and Oneprop.