All Forum Posts by: Beau Fannon

Oregon is poised to enact statewide rent control.

https://www.npr.org/2019/02/27/698509957/oregon-set-to-pass-the-first-statewide-rent-control-bill

As anyone with access to modern communication devices is most certainly aware, our Austin city council is very bullish on affordable housing. They have also shown a propensity to jump on the bandwagon of issues perpetuating from the west coast. What do you think citywide rent control would look like here in Austin?  What would the ramifications be on our community?

Can we get an Amen up in here? Cause this man deserves an Amen! 

Higher down payments are investments. Negative cash flow is a boat anchor. 

Here in Austin, we play the appreciation game. It's a dangerous game IF the market heads south and scares most out of town folks like @Christina Linn and @David Cardoso. Many equate it to catching a falling knife when times get bad. A higher down payment insulates you from market gyrations. 

Negative cash flow is an instant boat anchor on your ability to finance your future investments and your day-to-day life. If you become injured and unable to work, the negative cash flow will be your financial undoing. 

So ask yourself, what's more dangerous? Catching a falling knife or swimming with a boat anchor tied to your neck. 

Have have you asked your title company if they recommend anyone? Title insurance and title law go hand-in-hand

This this reminds me of the time I visited a Norwegian buffet restaurant. About halfway through the line my eyes told me I was looking at mashed potatoes. My gut told me to get two big scoops. A few minutes later I sat down at the table with my family to eat. When I got to my mashed potatoes I was in the middle of telling a story as I put them in my mouth. Unfortunately for myself, my family, and the story I was telling, my mashed potatoes were not mashed potatoes as I had thought. It was creamed pickled herring. I publicly lost my lunch and my dignity that day. 

The moral of the story is if you're not experienced with what you looking at, don't trust your gut.

I second the accessory dwelling. 

My my first thought is that the insulation in your wall must be so old that it has completely deteriorated. That's not a cheap fix but it might be cheaper than your long-term carrying cost of an empty unit. 

My second thought is that sounds like an excellent place for some super thick curtains.

My third thought is this might be a great time to advertise your unit at the deaf school here in town.

And is this a single family home, an apartment building, or a high-rise condo?

Are are we talking high pitched screeching noises, low end rumbles that shake the building, or both?

Additionally, are the window single pane, double pane, or triple pane? Is the unit carpeted or bare floor? How many windows and what size face the busy street?

 Zachary,

This is all very well laid out. But, negative $550 a month is a freaking boat anchor. Unless this is your forever home and the only investment property you ever intend to acquire, don't do it.