All Forum Posts by: Austin J.

Hey Jacob. Congrats on this journey. A lot of good questions and I think it's helpful to learn more before you jump in. LLC is for sure important. Legalzoom offers free setup + state filing fees.

We will have an online zoom session in the first week of April. Feel free to RSVP via this link. 

https://www.meetup.com/investing-in-texas-real-estate/events...

 Yes, it's an online discussion over zoom. I'll DM you.

Want to share an upcoming meetup about short term rental investing in Texas, might be helpful. Not a commercial because no one is getting paid. purely investors help investors. 

https://www.meetup.com/investing-in-texas-real-estate/events...

Hi guys, we are creating a FREE meetup webinar around the topic of Short Term Rental in Texas. It will be free flow of helpful information. If you are interested, you can join us through the link below and perhaps invite your friends!

https://www.meetup.com/investing-in-texas-real-estate/events...

Yes given the rent to own ratio, you can consider being the renter and owning somewhere else so you can capture the 1 - 2% cap rate on a large asset.

Quote from @Kayde C.:

I purchased my first "investment" SFH a little over a year ago for $435k in a A-list neighborhood in Central Texas. Due to property taxes, insurance, etc my mortgage is $4,200/month. However, according to my comps houses in the area are renting for just about $3,000/month. I'm wondering if I should sell now (It's worth about $100k more than when I purchased it due to inflation and about $80k of renovations) or if I should rent it out for the $3k/month and let it keep appreciating until I'm able to refinance a few years from now.

Hi Kayde,

I believe you should consider a reverse mortgage and a HELOC. My intention is not to advertise, but I genuinely think we can assist you in your situation. Our company offers $1,000 per month for your future home equity. If your home equity increases, it's a win-win situation where you retain the majority of your home equity and share some of the gains. Conversely, if it decreases, you would share the loss with us.

Avoiding putting out an ads, if it's interesting, please PM me.

Hey Caitlin,

I'm a loan officer myself in another state, so it's not an advertising. 

There are a couple of things you can do. There is a 1% down payment program for certain qualified individuals. Different companies have different requirements, I don't know about Zillow's 1% program, but that could be an option, but we offer people with income at or below 80% of the Area Median Income (AMI), with 1% down and we match 2%, up to $4,000. See link.

Additionally, there is a commercial version of shared appreciation mortgage that can offer monthly mortgage assistance up to $1000 / month. See link.  

Any how, no matter what program can get you there, house hacking is a smart thing to. Hope you find the free 26-page ebook on homebuying helpful. See link.

Best of luck!

Found some useful information about the appraisal and the factors appraisers care about. Sharing the link here: https://restatehomes.com/blog/appraisal-red-flags

@Emily Johnston

Thank you for sharing.

I noticed Chattanooga is a popular place on this site. What is the actual driver of growth there? Why do people move to there besides near the river? Thank you!!

@Taylor L.

Thank you so much for the tips. I see you are a syndicator yourself. How important is the legal stuff or I am overthinking? I worry about an unsatisfied investor suing me if I don’t have proper legal protection.

Also, any recommendations about commercial lenders that would care for smaller deals would be extremely helpful!!

Thanks again.