Your Questions About Real Estate

October 15, 2011 by  
Filed under Real Estate Tips

Betty asks…

Anyone know of private money sources for real estate investors in Houston? Not Hard money.?

The Expert answers:

The only suggestions I can make:
A] Prepare a business plan – on paper.
1] Join a real estate investment group, BE ACTIVE and share your thoughts and ideas with the other members of the group.
I’m not saying the only ones you might impress will be hard-money lenders, but its worth a try, isn’t it?

2] Gather your friends and relatives to an afternoon party and discuss your thoughts and ideas with them. This also includes the members of your church/temple/mosque.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

David asks…

How to find home sale prices in Houston?

In places I’ve lived before, Florida and Ohio, a real estate‘s sale price and sold date is public info and available on the county’s property appraiser’s website. The Harris county (i.e. Houston) appraiser’s website doesn’t show this info. I’m a real estate investor and need to get comps before I make offers on properties. I prefer not to go to a realtor yet. How can I get sale prices of homes and sold date in Houston without going to a realtor?

The Expert answers:

The reason we don’t disclose to the state government how much we paid for a property is because we have not trusted our state government ever. We think that they will use that information to tax real estate transactions.

We also don’t want them to have that information to use to up our property tax values- but they have found ways around that.

Daniel asks…

Does Robert allens real estate investment scheme of no money down work?

I would like to hear from professionals as well as amateurs in the field of real estate who have tried his techniques. Does his website which promises to give pre foreclosure listings nationwide actually work. In a free seminar i attended, they said, there would be atleast 9000 listings for the houston area. Also the personal advisors will look up the MLS for any property and will advise us of the fair market value of the property. Also that there are plenty of private investors who will lend atleast 80 % of the FMV of the property, not the purchasing price as banks and other lenders do. I wonder how much is true and how much is hype. Would like to hear from those who have tried his methods and signed up for his programme

The Expert answers:

While I have not used Rober Allen’s system per se, I have bought real estate with a lender giving me money based on the vaule rather than the purchase price. They are hard to find but they do exist.

As for foreclosures, I would think 900 in the Houston area sounds about right. They are probably using a CRS or similar system. Basically, it taps into the county data and finds comparable sales. I know locally, I have the ability to suscribe for a couple hundred bucks. People I know that suscribe swear by it.

I’m sure Robert is willing to do this because he gets a cut of some kind…and he’s making money from other people doing all the legwork.

I would think it’s legit. If the fees are crazy though, I would suggest you join the local real estate investor’s club and do it yourself.

You could also try calling the various banks and asking for the REO (real estate owned) department. Some will act confused and not know what you are talking about but all banks have them.

When you get the department, ask if they can provide a list of their REO properties and go from there.

Susan asks…

How can I find an investor for my fashion line that is willing to pay for everything?

My name is David Davis, Jr. and I am starting my own fashion line. I would like to know where can I find investors that would help me with funding for the startup. I need commercial real estate technology resources, money for manufacturing and much more. My business plan is ready for an investor. My entire plan is ready for an investor. I live in Houston, Texas. However, I would need an investor from a pretty reputable source. Anybody I am prepared for business.

The Expert answers:

Talk to venture capitalists. It’s a long, tedious process that’s basically the social equivalent of turning people upside down and shaking them so the change falls out of their pockets. The chances that you’ll find one person willing to put up all the money is very low, especially if this is your first business, so talk to as many people as you can and ask them to refer you to others who might be interested. When someone turns you down, ask them why or if there’s anything you could do to change your mind. Almost no one is lucky right away, so just keep chugging away if you really want it.

Thomas asks…

Are you an investor looking for TX properties in DFW or Houston 80% LTV?

We are a real estate company that deals100% on selling new homes. Builders have many homes with deep discounts that are not advertised. We are one of the few companies that sales reps. share information freely with.

The Expert answers:

If you are only selling homes why do you care about the LTV of buyers?

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