All Forum Posts by: Ali Masoudi

Hi there, not sure if this is the right forum, but I'm interested in starting a real state service business on the side (I have a full time job and rental properties), and recently came across a carpet/ flooring cleaning company in Austin TX that is in the market for sale, the owner started this business a few months ago and ran that for 3-4 months, the demand was solid for the start (revenue around $20k/month with one truck/van), he wanted to expand but got into family emergency issues and now he's selling the business, there are no financial statements as he says he's basically selling the assets (van, machines etc.). I don't have any experience with this sort of business, so if anyone has any advice on what I should I look at and in general if carpet/flooring cleaning in a city like Austin would be profitable (according to the owner, it has around 40% profit margin). or if you know anyone in this business that I can consult with, I'd really appreciate it. 

Posting this question for my friend: I'm looking to buy my 1st real estate property in OC and around area; my goal is to buy a single family house as a primary residence, do some upgrades and then rent it out. I'd like to keep its budget around $800-900k. Does anyone have any recommendation on which areas or neighborhood in OC and nearby areas would have a good potential for appreciation and perhaps in the long run a positive cash flow? As an alternative, I can also look for a property out of state, is that something you guys would recommend instead? if so, which cities or states? Appreciate an advice. 

Correction: when you guys have vacancy for more than 1-2 months*

I have a 3bds/2ba SFR rental property in north east Austin (great location, 20 minutes to downtown); 2 months ago before my tenant moved out we listed the house for rent (kept the rent flat, $2,300/month) , but so far I've had only one applicant and they also went for another property eventually! My previous tenant moved out at the end of Aug and now it's ready for move-in, I also replaced carpets with Vinyl, Pics of the property are taken professionally and also a 3D video is posted. What I see from Zillow is that there are so many homes for rent in the area and the rents are almost in the same range, and apparently there are not many people moving around ... am thinking to reduce the rent to compete, (although I don't really like doing this), but I might have to or my agent was telling me I can offer 1-month free rent for an immediate move-in (I already have paid for the mortgage in Sept!) I'm looking for your thoughts or recommendations on what my strategy should be? How long vacancy in a market like AUSTIN is acceptable? when you guys have vacancy for more than 12 months, what do you do to pay for the mortgage? I'm wondering if other landlords have similar challenge in Austin or other markets? I really appreciate your inputs!

Hi everyone - I'm based in Austin TX, and have two (SFR) rental properties here in Austin. I currently have a few personal line of credits (with an average rate of %10) that I can use to buy more properties and pay back the monthly payments through my W2 job. If you were me, what would you do? Would love to hear your creative thoughts on expanding my RE portfolio (either SFR or CRE or ...).

Does anyone have a good experience or recommendation of a litigation attorney (in real estate JV/Note) in Texas or local to Austin?

@Chris Tighe Awesome. Would love to meet you at the event, I registered and driving to the event from Austin. Are you gonna be there from the start of the program? i sent you a connection request/message here. 

Anyone going to attend this event next week in Houston TX? 

I'll try to join this event as well. 

Thanks Costin, will attempt to join the event on Jan 19. Thanks.