All Forum Posts by: Adam H.

A recent listing on came up in MLS, "cash or hard money only". Within a day it was set to "expired". Later, I found out that it was sold through a wholesaler who asked the listing agent to expire the original listing. Can somebody help explain what likely happened and why?

I have so many questions, I'm not even sure where to start. Why was it listed at all? How did the wholesaler get the listing away from an agent? And why would the owner then agree to wholesale?

The only scenario that makes sense is that the wholesaler went to the owner and offered higher than the 6% commission, cash, and the owner accepted and canceled the contract with their agent. Is that even possible? 

The space at the end of the hall also seems wasted. I'd parrot the other suggestions for the en suite master, but possibly even cannibalize some of top right. Then extend top right in to the hall to remove the end of the hallway. The masters door should be placed farther forward so that there aren't 3 doors right next to each other. 

Your home is an asset. Like all assets, you may incur costs to secure it, so your tax and insurance payments are a liability. You may incur costs to operate it, so your utility payment is a liability. Calling an asset a liability is pretty silly just because you don't make money from it. You don't make a return on your asset, but you get option to live out of the rain and sun. And like all assets, you could put it in the liability column by renting it! 

 Thank you for the detailed explanation! 

@Rashad Luckett Nice job and the pictures look great! Thanks for sharing. I'm new to investing and seeing these are very inspirational. 

I just completed my first buy and hold, and it was very minimal in rehab, at only about 5k in work. I'm looking to get my feet wet with something a bit more substantial. 

Can you help me understand your numbers to better evaluate deals?

1,125/mo rent = 

+13,500/yr

-1,125 vacancy

-1,350 repairs/capex (10%)

-7,960 mortgage (110.5k @ 6%)

= 3,335/yr remaining for taxes and insurance, or about 2.5%

Are your taxes and insurance incredibly low in Savannah or did I miss something on my math? Thanks for your help in understanding these types of deals! 

Thanks @Tony Castronovo! I was thinking about it backwards.

Hi all, new investor and finally closed on our first rental property a few weeks ago after searching for over a year. Got it at 150k + 6k in rehab = ~156k all in. I was conservatively estimating about $1,550/mo for rent, but after talking to my agent and re-checking the comps, we decided to list it for $1,650.

It's only been on the market for a week and the average DOM for this particular neighborhood is about 16-20 days, so I'm not exactly worried about it. But I was wondering if more experienced investors would recommend trying to get it rented sooner, especially before the school year started, by lowering the rent? I'm confident it'd go for $1,650 under most circumstances, but I was not sure how much the school year starting would potentially delay renting it out.

Even at $1,600, it'd still be above our initial projections and I'm anxious to get started on the next one once this ones finished up. Thanks for your insights!

Taxes are by county and even neighborhood, so assuming Travis County, find the Travis County Appraisal District website and lookup the address you're interested in. Expect around 2.4-2.6% for non-homestead, maybe 3-3.5% if you need to pay a MUD as well