All Forum Posts by: Adam Roberts

Appreciate that - yes I can definitely see the potential with Podio... it is very open-ended so it will take some time to get it working for me efficiently. THX!

@Cynthia Ferris do you mind discussing how your sourced the property?

Welcome to the team @Rob Pasche . Look forward to meeting at one of the next BP meet ups.

Welcome to the team @Brian Oney . Look forward to meeting at one of the next BP meet ups.

@James Mudd just to offer another perspective on this... Last year my girlfriend and I moved to Texas with the mindset of buying a 2-4 unit and owner-occupying while playing landlord. Now , I don't know you personally so i don't want to pre-judge your lifestyle (disclaimer!), but we could not find something in our price range (up to $200k) in a neighborhood we felt safe/good living in. We probably looked at 20 different properties in 10 different neighborhoods, but just was not feeling the neighborhoods or neighbors. In OUR case, the financial benefit of owner-occupying in these circumstances wasn't worth what we may have to deal with (or not deal with, who knows!)

I do know there are great duplexes in both FTW and Dallas in fantastic, up-scale neighborhoods, we just couldn't swing those properties at the time due to budget.

So all-in-all, just be mindful of the fact that you'll be living in and playing landlord in the same neighborhood.

@Nick B. agree with everything previously stated. Also keep in mind that sellers in DFW are getting very good prices for their homes, rental or not. North Richland Hills is a GREAT example of 2 things: 1) Owner-occupants flooding the market (500+ ppl move to Texas per day, along with numerous businesses moving to Texas weekly) and 2) Investors are settling into long term cash-flow investments that produce longer-term returns over a period of time with these bread 'n butter SFR. They may be sacrificing on the short term cash flow number to do this. (i.e. Joe Smith investor would rather get 15% total return YoY in a SFR than 2-6% in the slots market)

As others stated above, you may need to differentiate your market or method of sourcing deals. MLS right now is like grocery shopping for properties.

@Travis Lauchman have you built your own project/contruction management app in Podio or are you using one that was already in their marketplace?

Bottom line the numbers need to make sense, depending on your financial goals & objectives. These numbers will drive the market prices duplex/quad/apartment buildings as every investor has *somewhat similar* goals and objectives.

I would bring a few deals to the next DFW BP meet up and pitch them to some of the folks there who have done this before. It's a great way to get real-time feedback on your investment choices.

Team -

I have a home that I recently owner-financed out to a buyer on a 15 year note, and I would like to entertain the idea of "purchasing" the note with a self-directed IRA. Currently the note is owned by my LLC, and my self-directed IRA is owned by "me". Assuming this is even possible, I have the two following, very-broad questions -

A - If the buyer re-fi's out of his loan in a number of years, how does this work with the IRA? Is the principal balance simply placed back into the IRA?

B - There is a $10K profit involved with the purchase and sale of the subject home (I sold to buyer for $10K higher than I purchased), when my IRA "buys" the note, can I 1031 exchange that $10K profit into another investment, or will I be required to pay capital-gains tax instead? Asking this as I don't know if the IRA involvement affects this.

Thanks in advance all

Amen to the posts about parenting... Short story - I was renting to an acquired tenant with 2 high school aged kids. She kept the apartment very clean, well decorated, etc etc. One day find out that her son was arrested on drug charges, and several weeks later I hear rumors from other tenants about her daughter being in trouble with the law. I didn't think much of it, until mom lost her job and quit paying me rent! I had to cash-for-keys her, but it's a good example of the parenting paradigm. Like parents like kids.