All Forum Posts by: William Dampier

I would not automatically rule out a local community bank. They may just have an appetite for subject properties that require capital improvements.

Friends,

Lack of a plan is one of the biggest mistake investors make. They buy a property because they think they got a good deal and then try to figure out what to do with it. That's working backwards and it’s likely to result in trouble. The problem is that most people look at real estate as a transaction instead of as an investment strategy. People fall in love with a property - who cares about the property? Fall in love with a motivated seller.

First, you find the plan. Then, you find the property to fit the plan. Pick your investment model, and then go the find property to match that matches your investment model. Don't find the strategy after you find the property. Many people buy a property and get stuck with it because they only have one exit strategy. They're going to sell it or they're going to rent it out. What if it doesn't sell? What if the rental market stalls? Always have two, if not three, ways to get out of any deal. For example, if plan A is to rehab the property, put it on the market and resell it, then plan B could be to offer a lease-purchase to a buyer. Plan C might be to hold the property and rent it out. And as a plan D, there is the wholesale option, which would involve selling to another investor at a below-market price. Hopefully, you'll still make a profit, but at the very least, you'll cut the losses you're taking every month in carrying costs.

At City Bank Texas, our goal is simple – to help you achieve your goal. As the Real Estate Lender, I pride myself on providing a peace of mind and making life easier by offering lending solutions custom tailored to meet my client’s investment real estate borrowing needs!

• Investment Real Estate
  • Acquisition & Refinance
    • Industrial, Multi-family, Office, Retail, SFR
    • Conventional loans for Owner & Non-Owner Occupied Commercial Real Estate
    • Attractive interest rates as low as 4.25%
    • Innovative loan options with Loan to Cost up to 80%
    • Flexible terms & affordable payments with long-term financing with payment schedules up to 25 years

I am here to be a resource for you, think of me as part of your team. If I can assist you in anyway, please let me know. Simply put, we win as a team!

Bill

The Legend. Eddie Gant.

It appears that RV Parks are the new thing. As a Commercial Lender, I've looked at more RV Park deals in the past 12 months than I can shake a stick at! Best of luck!

Hi Yetzul - 

Your target audience for buying properties are motivated sellers. A motivated seller could be someone getting divorce, loss of a job, inherited property, etc. A number of wholesalers invest in mail outs to motivated sellers. 

Best of luck!

In no particular order, Houston House Buyers, Jet Lending, NewWestern, Big State House Buyers are the ones that all come to mind.

Tuesday, July, 21, 2015

7:00 PM

We'll be discussing the 5 C's of Credit and explore the more common mistakes investors make when purchasing real estate. No products/listings will be offered/sold. This is purely an opportunity to network with other investors and a learning opportunity.

Looking forward to seeing everyone there!

The word of the day!

Friends,

Though the real estate bubble ostensibly popped in 2007, there are still a large number of exotic mortgage options. The purpose of these mortgages is to allow buyers to get into certain properties that they might not otherwise have been able to afford using a more conventional financing. Unfortunately, many buyers who secure interest-only loans eventually pay the price. The point is that investors should make sure that they have the financial flexibility to make the payments.

Having the right lender on your investment team is an ace in the hole. By understanding your long term investment objectives up front, an investment lender can make sure that you are qualified for the right loan programs to meet your objectives, as well as making sure that you have funds available when you need them. Sometimes an investor is better served by a banking relationship, and sometimes a mortgage loan officer is a better fit…all depending on the scope of the investment plan.

At City Bank Texas, our goal is simple – to help you achieve your goal. As the Real Estate Lender, I pride myself on providing a peace of mind and making life easier by offering lending solutions custom tailored to meet my client’s investment real estate borrowing needs!

• Investment Real Estate
  • Acquisition & Refinance
    • Industrial, Multi-family, Office, Retail, SFR
    • Conventional loans for Owner & Non-Owner Occupied Commercial Real Estate
    • Attractive interest rates as low as 4.25%
    • Innovative loan options with Loan to Cost up to 80%
    • Flexible terms & affordable payments with long-term financing with payment schedules up to 25 years

I am here to be a resource for you, think of me as part of your team. If I can assist you in anyway, please let me know. Simply put, we win as a team!

Bill

If you find one, let me know! Noble Mortgage and Houston House Buyers are hosting a Network event tonight at Houston House Buyer's office.