All Forum Posts by: Alfred Litton

I'd be up for it!

I am a big fan of midsized cities in states with growing populations like Texas. I choose markets where you can get good PMs, realtors, handymen, etc that are between 100-250K in population. Why? Because I can find sufficient professionals to help me manage from a distance, but those markets aren't overpriced like major metros are. Sure, rents are more modest, but so are the entry costs.

I have been an investor in that market for a couple of years now with 4 SFHs. Would be happy to connect with you.

I own four SFHs in WF, and after going with one insurer for a couple of years, I switched to James Call with Ryan Everet.  He got us policies with Travelers, and the quotes were much better while the coverage was higher to boot. Ryan's office is in Denton, but that's no issue, honestly.  James Call's email is james@utahautohome dot com (don't let the email throw you).  As an example, my year's premium on an 1100 sf property on Lindale that I purchased for $98K ($164K replacement value with $2500 deductible) was $781.  Not bad.  My previous insurer was close to $900 with worse coverage. Good luck!

She's a Remax agent in WF.  Don't have her number on my phone but easy to find on the web.

@Joel S. You might contact Sandra Wortham who is a great PM there.  We work with her.

@Rueben H I invest in SFHs in Wichita Falls, and it's a stable market.  I have doubts about multifamily there, though, because SFHs go for about what a decent 2-bd apartment would.  Many rent SFHs rather than apartments as a result. Plus, you'll want to consider the fact that Sheppard AFB is the largest employer, and they have plenty of multifamily for those personnel. The base personnel who don't want to live in base housing generally rent SFHs because they're more spacious.

Are there good property management firms in Abilene?  

@CJ M. It's not about how much the loan is for. I can get a lender for the lower amount ($75K). I just have to take it out of the LLC first. Can't find lenders who will do a loan to my LLC that small. I only called two for now, but in the past, I've gotten the same answer from dozens. Regardless, that's really not my issue. My issue is the tax deductibility and other consequences of taking out the loan.

@Tarik Turner I did speak with two lenders about portfolio loans but was told this was too small for that.