Oak Forest (Houston, TX) Home For Sale

4219 Bethel, Houston, TX77092
ASKING PRICE: $155,000
RENT READY REPAIRS: $12,500
Retail Repairs: $30,000
ARV:210,000

COMPS:
4130 lou anne -1152sf-77092 -$219,750
5803 43rd-1627sf-77092 -$195,000
5611 Chantilly-1627sf-77092 -$189,000
RENTAL COMPS
5623 43rd 77092—$1,500
5918 Libbey- 77092—$1,450
3915 Bethel 77092—$1,450

GREAT OPPORTUNITY IN THE SUPER HOT OAK FOREST MARKET!

Nice 4/ 3/ 3, 2000sf in the great Oak Forest neighborhood . The largest house in the neighborhood on a lot and a half , 4 bedrooms, 3 baths, 2 car garage plus additional
1 car garage, living room, dining room, pool in backyard. Home has great potential for and amazing flip or rental. Located blocks from 610 and Hwy 290. Act NOW!
Repairs include: Interior paint, exterior paint, carpeting in 3 bedrooms, tile showers, exterior paint, fascia repair, minor siding repair, pool cleanup.

RUSSCORP PROPERTIES
AGENT: CHARLES STANFIELD
281 890 1004 : OFFICE
877 237 2851 : FAX
832.331.7109 : CELL
CHARLES@RUSSCORPINC.COM
WWW.RUSSCORPPROPERTIES.COM

Woodlands Property Back on the Market

3403 Kentwood Dr. Spring TX 77380
ASKING PRICE: $89,500
ARV:$108,900
COMPS:
3315 Roaming Woods Ln.— 77380—$97,500
3630 Dawnwood Dr. — 77380 —$108,900
RENTAL:
3442 Kentwood Dr. —$1200
3211 Willie Way —$1300
25110 Wilderness —$1500
3314 Kentwood Dr. —$1000

 

BUYER BACKED OUT OF DEAL, LEAVING YOU A GREAT OPPORTUNITY!
This is a nice 3/2/2 in an older part of the WOODLANDS!! Minor cosmetic touch ups to floor and paint would make this a beautiful home in a great rental market. With 3 bedrooms, 2 full baths, living, dining, kitchen and breakfast room; this is a must have for the landlord looking for their next cash flow property!
Don’t miss the chance to see this one!

 


RUSSCORP PROPERTIES
AGENT: CHRIS RUSSELL
281 890 1004 : OFFICE
877 237 2851 : FAX
713 909 4898 : CELL
CHRIS@RUSSCORPINC.COM
WWW.RUSSCORPPROPERTIES.COM

Whoops! We have been neglecting this blog.

Due to a high volume of work, I have seriously neglected the word press site and other areas of social media. I do apologize. Here is what you have missed.

We brought on a new staff member, Charles Stanfield, and we drastically increased the amount of direct mail that we are sending out from 800 a week to 2000 and have seen some good results.

As a result, all of the properties below have been purchased and sold. (It is possible that I missed some. These are the ones that I can think of off the top of my head)

Lido DSC00730 Willow Field Kentwood Reynolds Park 2203 Laxton Haverdown

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I plan on getting back into doing videos, so hopefully, I will be able to add some soon.

 

-Adriane

 

 

 

 

Marketing Wholesale Properties

As a real estate investor who specializes in wholesaling, you will find yourself having to market these properties to other investors. For the skilled and experienced investor, getting the house sold to a rehabber or landlord could take as little as 30 minutes to find a buyer if you have an established group of buyers. If you are not at the point where you have a handful of buyers that will take all of your good deals off of your hands you need to start getting creative on where to find a buyer. Do not worry, there are always people looking for properties especially in the Houston area. We are going to discuss many different ways to market your property in Houston.

  • Email your buyers list – Unless you just started investing yesterday, you should have at least a small group of people who say they are interested in buying houses to flip or rent out. (Please note that not everyone who signs up to be on your buyers list are serious investors, so you should always be looking for more buyers.) Send an email to your group of buyers with pictures, description, list of repairs, a map, and a list of comps. If you have serious buyers and your property is a good deal, you will get calls.
  • Signs – These signs are similar to Bandit Signs, but are advertising your property instead of your business. Make them simple. Say how much the property is worth, the cost, and your phone number. Put 10-20 around town and you will have buyers calling in no time.
  • Craigslist List – I have found that Craigslist List isn’t always the most reliable place to find a good buyer, but every now and then you will come across a serious investor so it cannot hurt to place a couple of adds. I suggest creating a few ads that are worded differently and publish one every day during peak hours. Please put pictures, ARV, sale price, and cost of repairs in the ad.
  • Social Media – If you have a LinkedIn, Facebook, Twitter, and/or Google + account for your business, you will regret not using them to market your property. Though I have found that Twitter does not bring many serious buyers and I have not made a Google + account yet, Facebook and LinkedIn have helped us create some great contacts for our business. Do not just post the property on your news feed; You should go to the real estate groups in your area and post your deal there. Many investors join these groups for tips, advice, and networking, so they are looking for deals.
  • Blog/Website – If you have a blog or website, it is a great place to publish your properties. Even if you do not have many followers on your blog it still does you some good. If you tag your post correctly, it will help you get your property higher up on search results.
  • Networking Groups – If you do not belong to any real estate networking groups, you should. Here you will meet other investors and people with private money. At most of these group meetings, they have time set aside for people who want to talk about properties they have for sale. Bring a stack of flyers to the meeting and be prepared to talk about your deal.

I hope these tips help you get your property sold!

Common Real Estate Investing Mistakes

Whether you are new to investing or you are a novice, you have a will make mistakes. The trick is to educate yourself before you start so you can avoid making a major one that will cost you unnecessary time and money. Here I will explain six of the most common mistakes that real estate investors make and how you can avoid them.

Not having a team– Trying to do everything yourself is a huge waste of time and incredibly stressful. Investors should try and create a team to help them be more efficient. Your team should consist of at least a few of these people.

  • Realtors – Create a relationship with realtors in your area that can shoot you deals that are distressed or “investor” properties. This saves you the time in having to search, the deals come to you before they are even listed, so you get the first look.
  • Contractors – Through networking, find a few contractors that you can have on call to give you bids on potential properties. This way you can be sure about estimated costs and you are ready to go after you purchase the home.
  • Title companies – Building a relationship with a title company can help you with closing. If you have a good relationship with the agent, they are more likely to help you and make the closing go as smooth and as quick as possible.
  • Real Estate attorneys
  • Insurance agents

 

 Not using your time wisely – Time management is a huge issue more many people, not only investors. It is very easy to get caught up on tasks that might not be that important. I suggest setting daily and weekly goals so you can stay on top of your tasks and keep a log of how you spend your time to see if anything can be cut out of your schedule.

Focusing on one deal at a time – Many things can go wrong if you just do one deal at a time. On any given day, the deal you are working on could fall through. The seller might decide to wait, they get a better offer, they changed their mind on how much money they want and it doesn’t work for you, etc. You need to constantly look for properties and be submitting offers so you have a steady stream of business going at all times.

Buying before planning -  Sometimes investors can get caught up in what sounds like a great deal before doing their research and it turns out to be a huge money pit. Create a checklist and stick to the guidelines that are right for you and do not forget to pull comps for the area.

Miscalculating Costs – This one has to be this easiest to make a mistake on. Real estate is all about numbers and if you miscalculate the cost of repairs it can through your whole deal off.

  • Use an estimate checklist – you can find these on many investor club websites
  • Get an estimate from a contractor if not sure. This is why you have contractors on your team in the first place, use them
  • Remember to leave room for real estate fees, title fees, property taxes, hoa, and insurance.

Not having an exit strategy – Every now and then you just cannot sell the property in the time, or price that you had hoped, so it is always good to have a backup plan for every deal. Always consider lease option or renting out the property if for some reason you cannot sell.

The most important thing to do before getting started is being informed on how the business works. Talk to other investors, most of them will be happy to share their experiences with you.

The Benefits of Bulk Mailing in Real Estate Investing

If you want to make money in real estate investing, chances are you are going to have to spend a little bit of money. Whether it be on gas to drive around looking for vacant houses, on lists of possible motivated sellers, on stamps for you direct mail marketing campaigns, bandit signs, etc. Though you cannot control the price of gas, you can reduce the cost of your stamps by half or more if you know what you are doing. When we first started out in real estate we did direct mail marketing like a majority of investors do and I wish someone would have told me that I didn’t have to pay 45 cents to mail a letter. With the amount of letters we sent, this added up to hundreds of dollars a week, money that we could have used towards other marketing campaigns. Here I am going to explain the requirements and how to get discounted postage in Houston, TX (I am sure it applies nationwide, but I only know the pricing for Houston).

Requirements

-          Minimum 200 pieces of mail per mailing. This is for similar pieces only. If you have 100 letters and 100 post cards, you will not meet the minimum requirements.  Post cards and letters count as two separate transactions

-          150 minimum per price category. There are 3 different categories that you can use.

  • In the city of Houston, zip codes that start with 770 and 772 ($.222 per letter)
  • Surrounding area of Houston, zip codes between 773-778 ($.265 per letter)
  • All other zip codes ($.281 per letter)

-          Use postal approved boxes (you can find these at the downtown post office)

-          You must put postal strapping around all boxes that go outside of the city

Process

The first thing that you are going to need to decide is what kind of postage permit you want. This is really just a matter of preference and time.

The first permit is a permit imprint. This is where instead of a stamp; you have a printed image with you permit number in the top right hand corner of your letter or post card (shown below).  The benefit of a permit imprint is saving time. Instead of putting a stamp on every piece of mail, all you have to do is have your imprint printed on your envelope and/or post card. Though this is a great time saver, it does cost more money, an extra $190 to obtain a permit imprint number. Before your mail is accepted by the post office, you will need to create a deposit account and you have to have sufficient money in your account prior to each mailing.

The next choice is precanceled stamps. With precanceled stamps, you purchase rolls of stamps that cost 10 cents each to put on your mail just like you would a normal stamp. When you drop off your mail to the post office, you will pay for the remaining postage with a check or debit card.

The third type a permit is metered mail, but this type of mailing does not apply to letters or post cards. This is more for grocery ads and similar items.

Once you have decided on what type of permit is right for you, you will need to go to your main post office (the one on Franklin St. downtown) and apply for a permit. You will pay an annual fee of $190 for your permit number. There someone one will explain the process and requirements to you just like I have above and you will be on your way to getting cheaper postage.

What are the Benefits of Private Money?

If you have been in the real esImagetate investment business for at least a day, you have heard of private money and that it is very important that you find a private money source. If you have decided not to listen to the masses and figured that you will be fine with going through a bank or getting hard money, you might what to think again. Sure banks and hard money loans get the job done, but private money has some advantages. If you haven’t decided whether or not to use private money, I have put together a small list as to why private money is a great idea for real estate investors.

  • No credit check and nothing shows up on your credit report
  • 70% of ARV
  • Loan is based on the individual project
  • Longer terms than hard money
  • Unlimited funds
  • Fast money
  • Easy to find a private money lender that works with what you want
  • No points and 7-10% instead of 4-6 points and 14-16% with hard money

In the real estate business, when a deal comes to along you have to move quickly. Too many investors have watched properties slip through their hands while waiting for bank approvals and with private money, this will not happen to you!

Long Term Cash Flow

It’s Stephen Russell from RussCorp Properties.  Answer me this.  Why did you decide to become a rental property owner?  Was it because:

 

  • You like the fact that other people pay off your mortgages?  In the long term creating huge equity in your properties so that eventually I own them free and clear.
  • You wanted to watch your properties appreciate over time?  Increasing your wealth in the long term.
  • You wanted to live off the positive cash flow that you receive each month?  So that in the long term you wouldn’t have to have a 9 to 5.

 

Those are all admirable goals.  Please note the words “in the long term”.  Because of long term the above goals can be hard to attain.

 

People move in, people move out.  Maybe you haven’t hit the right formula that retains “long term tenants”.

 

Even though properties appreciate, in this down market they might not appreciate that much.  Tenants may not keep good care of your property. Disgruntled tenants may actually go out of their way to damage your house. Those expenses coupled with constant maintenance can actually cause you to be in a negative cash flow situation.

 

As I stated in my letter “5 Things You Must Know Before You Buy a Rental Property” I had created enough full time work just managing my properties. So much so, that I ended up working in the business instead of on the business.

 

What if I told you that I’ve found a way to help accelerate the “long term”? Alongside of what my tenants pay in rents, to pay my mortgage, what if I told you that I actually have a system to accelerate the time it takes to pay that down mortgage by 10 to15 years?

 

What’s the advantage for you the investor?  It’s simple really, by paying off your mortgage faster you actually create that huge equity in you buildings.

 

Due to the positive cash flow, you will be able to conduct all necessary maintenance helping them to appreciate.  You increase your wealth when you maintain a buildings value.

 

As your mortgage is paid down in a third to half the time it only means more positive “available” cash flow.  Which will allow you to walk away from that dreaded desk job.

 

How much would you pay for the opportunity to ensure that your properties are secure?  Well I have good news!  You can use the same system I use that will pay for itself within the first 6 months.  It’s essentially free!!

 

I would like to introduce you to the Money Merge Account system, a powerful tool to help you fulfill your dream of home ownership and save money for your future. The average Money Merge Account customer will pay their mortgage off 100%, in as little as 1/2 to 1/3 the time, with little to no change to their day-to-day spending habits and without increasing their monthly mortgage payments.
 

Regards,

 

Stephen Russell

RussCorp Properties

281.890.1004

http://www.russcorpproperties.com

WARNING… Don’t fail to balance your rental property income!

Are you ready for a successful investment year?  You know I can tell you from experience, rental property ownership is a funny thing. During the years when I worried and agonized through months of vacancy or renovations, I couldn’t stand to think of the losses and how disruptive it was to the bottom line. Plus there are additional court costs for evictions and the like, and well, if I let it, it drives me insane!

 

My tune however changes entirely when tax time arrives and I’m ecstatic by the deductions I get to claim due to the expenses and losses. Additionally, renovation expenses which are depreciated across multiple years help to offset my primary job’s income.

 

What if 2012 however turns out to be a profitable year?  What if the properties are fully rented for all 12 months? Let’s go out on a limb and say the rent was even paid right on time, and it’s your lowest-stress year as a landlord on record.  If your properties are properly managed this is not a far off scenario.  Yet this situation is the worst possible situation for tax purposes if you fail to balance rental property income with deductible expenses.

 

In order to ensure the best possible situation be sure to use the positive cash flow to invest back into your rental properties, increasing their value while offsetting your taxable income for the year. Listen your properties just may be fully compliant with zoning and codes as well as some of the nicest homes in the neighborhood.  But there are always enhancements which can be made.

 

Here are some examples of things that can be done with rental income instead of Nudging Yourself Into a Higher Tax Bracket:

 

  • Replace the Roof – Is your roof over 15 years old?  Is it functional but unattractive?  This kind of work would be minimally disruptive to the tenants, and could be scheduled in the late fall where you should receive better pricing due to the construction off-season.

 

  • Kitchen Upgrades – Second to bathrooms this is the one area where you can improve a house for the most value. If you have great tenants. Conscientious, reliable tenants that you know, if you gave them new cabinets and perhaps even a granite countertop, they’d take good care of them?   Then it may be a good choice to invest in this type of improvement.  Plus, it will help to retain those great tenants over time, adding even more ROI.

 

  • Landscaping – Curb appeal goes hand in hand with location.  Enough said.

Tip:  Consider investing in plant life that is native to your area and that is geared to delivering a visual appeal year-round.

 

Stephen Russell

RussCorp Properties

281.890.1004

http://www.russcorpproperties.com

 

 

P.S. If you are ready to start building your wealth through real estate investing, make sure and become a member of my Wholesaler Buyers List.  As a member, you’ll be notified immediately when I have a new property up-for-grabs (that means YOU will have first dibs on the hottest deals)!   To sign up, visit my website at www.slpropertybuyers.com or give me a call at 281.890.1004.