Too good to pass up

[Real_Estate_Seller]

Javipa is the pro at real estate. I wish I was as smart as Javipa.

[javipa]

Someday I’ll resemble your compliments… I’m not that smart…

[TXLandloring]

@cjameson88 post:17

The last 3 properties I have bought in San Antonio, TX have been less than $10,000 out of pocket (all using hard money) and they each NET over $5,000 cashflow per year. That’s a 50% cash-on-cash return. And they collectively have roughly $95,000 in unrealized capital gains. That’s a 300% return on unrealized capital gains. I refinanced into 30 year notes at 4.25%, 4.5% and 4.25%.

My most recent purchase was less than $4,000 out of pocket on the front side and should be close to $0 out of pocket on the refinance. This one cashflows over $5,000 per year as well. I bought it for an even $50,000, putting $22,000 in repairs into it, and it appraised last week for $106,000.

I completely understand what you are doing…I understand the math involved. I think the most trouble I have had going the route you are talking about is identifying the property that’s being offered at 50% of ARV, and in general being in the right place at the right time. Surely a network of agents who know you are looking to buy helps. The competition in the DFW market (where I am) is cut throat right now. These types of homes never hit the MLS – they are are pocket listings and move quick. Very quick.

Is there another good way – other than an agent network – that makes these properties available?

[cjameson88]

Our main office is located in Dallas. I understand exactly what you mean. It’s becoming over-saturated with investors up there. The only other option is wholesalers, but BUYER BEWARE. Do your homework and never rely solely on their numbers.

[Real_Estate_Seller]

A real estate agent is your best bet to get good deals before they hit the MLS. I know most investors don’t like to pay a realtor 6% to find the great deals and used that realtor to closed the deal.

[Brandon_NE_Indiana]

@furnishedowner post:20

Listen to Javipa.
Listen to Javipa.
Listen to Javipa!

Furnishedowner

I agree. He is the only I seen in this thread with the right answer…which is that this isnt a deal. The nice thing about using 20 years or less amms is that it forces you to find better deals.