All Forum Posts by: Wale Lawal

@Allen Zhu

When evaluating a rental property, start by analyzing the location—look for job growth, population trends, school ratings, and crime rates. For out-of-state markets, use online data (Zillow, Rentometer, Census reports) and connect with local investors or property managers. Check market conditions by analyzing inventory levels, price trends, and rent growth—buyer's markets offer better deals, while strong rental demand ensures cash flow. Prioritize properties with low maintenance costs, strong rent-to-price ratios, and desirable features like parking or in-unit laundry. For cash flow, aim for 1% of the purchase price in monthly rent or at least $200-$300/month net cash flow after expenses. Out-of-state investing requires a solid property manager to handle maintenance and tenant turnover. Financing options vary—some lenders won't finance out-of-state, so explore local banks, DSCR loans, or partnerships.

Good luck!

@Victoria C.

You're asking all the right questions as you prepare for your first rental property! For a $300K-$350K home, aim to keep $6K-$7K+ in reserves to cover unexpected repairs, vacancies, and maintenance. Property classes can vary street by street, so even in a great neighborhood, an older or smaller home might attract a different tenant profile. To avoid flood-prone areas, check Harris County Flood Control District maps for detailed historical flooding data. The best time to list a rental in Houston is spring and summer (March–August) when demand is highest, while November–January tends to be slower. If you need local resources or flood maps, DM me, and I’ll point you in the right direction!

Good luck!

@Sas Sel

You’ve built a solid foundation with your Florida investments, and shifting to another market for diversification is a smart move. Texas does have higher property taxes, but many cities still offer strong rental demand and cash-flowing properties under $300K—especially in San Antonio, Fort Worth, and some parts of Houston. You might also consider Midwest markets like Indianapolis, Kansas City, or Columbus, which have lower taxes, landlord-friendly laws, and solid cash flow potential. If you need help narrowing down the best TX cities or alternative markets, DM me and I’ll point you in the right direction!

Good luck!

@Scott Trench

In Texas, the market varies by location, but in many areas, buyers are gaining more leverage, especially in higher-priced multifamily properties due to rising interest rates and increased inventory. While some markets, like DFW and Austin, are still competitive for well-priced properties, sellers are becoming more flexible with concessions and price reductions in certain segments. If you're looking in Texas, now might be a good time to negotiate strong terms.

Good luck!

@Rishabh C.

Both Round Rock and Leander have strong investment potential, but the best choice depends on your priorities. Round Rock West commands higher prices due to its top-rated schools, established neighborhoods, and strong appreciation history, making it a solid long-term investment. Leander, on the other hand, offers larger, newer homes at a more affordable price with ongoing growth potential, but school ratings vary by neighborhood.

For rental demand, Round Rock has a stronger track record due to its proximity to major employers like Dell and tech hubs, while Leander is expanding quickly, which could mean more appreciation over time. If you're concerned about soil quality, Round Rock East does have expansive clay soil, so proper foundation checks are essential. If you need further help, DM me, and I’ll point you in the right direction!

Good luck!

@Ramya Manchu

When choosing a long-term investment property in the Fort Worth area, Saginaw, Crowley, and Cleburne each have unique advantages. Saginaw offers strong rental demand and proximity to major employers, making it ideal for steady appreciation. Crowley is growing rapidly with new developments and good schools, attracting long-term tenants. Cleburne is more affordable but farther out, meaning slower appreciation but potentially higher cash flow. Your decision should align with your goals—appreciation vs. cash flow. If you need further guidance, DM me, and I’ll point you in the right direction!

Good luck!

@Rudy Garcia III

House hacking is a strategy where you buy a property, live in one part of it, and rent out the rest to offset your mortgage and expenses. This can be done with a multi-family home, a single-family house with roommates, or even an accessory dwelling unit (ADU). The goal is to reduce or eliminate your housing costs while building equity and generating passive income. If you're looking for resources to dive deeper into house hacking, check out books like The House Hacking Strategy by Craig Curelop or BiggerPockets forums.

Good luck!

@Anthony Stahurski

It's great that you're taking the initiative to educate yourself before making your first investment! Since you're considering using a VA loan, take full advantage of the zero down payment and favorable terms, but make sure the numbers work for cash flow if you plan to house hack or rent it out later. One key lesson many investors wish they knew early on is the importance of understanding market conditions, having a solid exit strategy, and building a network of mentors and professionals (agents, lenders, and contractors) to guide you. If you're considering the VA Renovation Loan, ensure you have a reliable contractor and clear project scope to avoid delays.

Good luck!

@Jeffry Valencia

You're off to a great start with house hacking, and thinking ahead to your next investment is smart! Since you’re looking out of state, focus on markets with strong job growth, landlord-friendly laws, and reliable property management. Your approach of researching and speaking with a local property manager is a great step, but visiting the market can give you a better feel. If you have limited time for hands-on renovations, a turnkey property might be the better choice for now, allowing you to start generating cash flow without major delays. Since you also have upcoming renovations on your current home, it might make sense to save up before jumping into your next deal.

Good luck!

@Kyle Haff

Congrats on taking the leap into house hacking—it's a great way to build wealth while minimizing living expenses! Connecting with local investors, attending meetups, and leveraging BiggerPockets forums will help you gain insights and find potential mentors or partners. Keep an eye out for networking events in Long Island, and don’t hesitate to reach out to experienced investors who can guide you along the way.

Good luck!