All Forum Posts by: William Baptist

Can anyone point me in the direction to obtain cold calling script?

I have a list of properties that fit my criteria. What is the next move? Do I drive the areas first or just do a mail campaign to see who is interested?

Anyone here have any information or knowledge on Melissa, Tx?

Can you guys tell me how to find and what system has been useful for finding your fourplex deals?  When using search engines like Zillow and Realtor they are not helpful.  I feel that I must travel to a selected market and do a driving for dollars campaign.  Please tell me there is a much simpler way.

Would you guys be against paying cash $50-100K for a property once a year?

I understand that you could build a portfolio faster by leveraging and at the same time earn so much more.  But, if you didn't want the risk and could make a cash purchase consistently, would you?

@Anthony Wick it went towards paying off over $140k in student loans, car and student loan debt.

Hey guys and gals,

I'm 45 and working my butt off to get going on this REI journey. My present state: $260K annual salary. $6K a month toward savings. I only have $10K saved toward the $42K for emergency fund. Debt: primary residence $1800K/mth ($185K owed) 1 rental SF owe $85K, mortgage $900, rent $1500. Mattress owe $8K @ 0% int 60mth. No other debt.

I am unclear on if I should pay off rental property and there after buy distressed properties cash, pay off rental then used bank funding, or not payoff rental and cash/bank funding.

Maybe there are other options I’m missing all together. I’d like for you guys to look over my shoulder to give me some assistance to play this hand that I’ve been delt. Thanks in advance

The insurance is covering the roof and the interior repairs. I’m pulling out the equity to upgrade the cabinets, countertops and to fix foundation. Why do you say it’s a bad investment? Its providing cash flow.

Hello Guys, 

I am in need of some guidance.  My wife and I have a rental property in Arlington, Tx with a remaining mortgage of $52K.  It has been rented below market at $1050/mth on a month to month lease.  3br/2.25ba in that area rents for $1200 to 1450 a month.  

After a recent storm there was a lot of interior damage because of bad roof.  The kitchen cabinetry is trashed.  Carpet needs to be taken out.  Lastly foundation needs to be fixed which is quoted at $7K.  The property after repairs will apprise for $138K easily. The closing fees for the loan is around $7K. Can I get better?

My plan is to evict the tenets and take out $30K of equity to make repairs to the home.  Our mortgage now is $850/mth including taxes and escrow with less than 15yrs remaining.  The new loan will be $897 30yr at 4.5ish% including taxes and escrow.  After repairs are done rent out property at $1200 to 1250 to have very competitive rent and tent retention.  10% of cash flow will go against mortgage to pay off loan faster and 5% toward repairs so that we will not have this issue again.  

Thoughts?

Can anyone point me in the right direction for a previous blog or literature to gain knowledge on buying at auctions? I know what the rents are going for in the area and appraisal. The home doesn't look like it need much work at all but I have seen the roof and I don't know how current the photos are. I'm trying to figure what to offer. Is it as simple as figuring out what number will give me the return I need to cover maintenance, management, taxes and mortgage? And of course minimal acceptable per door cash flow?