All Forum Posts by: Brett Whaley

That's always been my thought process for Lubbock.  I graduated from Tech in 2007 and in 2011.  I live in Katy, TX, and the cost of homes here seems to make the cost of ownership far larger than what is currently covered by rent.  Looks like Lubbock is breaking even to pushing mild profit (from eyeballing mortgages vs rent), not including depreciation and write-offs.  I really appreciate the responses.  Thank you.

 If you don't mind me asking, what price range are your rentals and the rent cost?  Who are your typical renters (students vs families vs other)?

 Good to know.  Thank you, Michael.

Not sure my questions came across with requesting a connection, so I will post here. Are Lubbock SFR turning monthly profit with the higher interest rates? How is appreciation going in the city? With the influx of luxury apartments, are SFR staying unoccupied for long periods? Does it seem as though sellers are willing to negotiate, or are posted prices generally firm? Is there any depreciation left to claim on some of the older homes for sale?

Is there anything you feel is important to know about the market I am not asking?  Any help is appreciated.  Apologies for the laundry list of questions.

I am kicking around the idea of starting investing there soon vs waiting for some period of time vs eliminating Lubbock as a potential area due to apartments taking up too much of the market share.

@Brad Gibson I have heard the same thing from some people, actually, especially with all the resort-style apartments going up.  I was looking at Zillow the other night at work, and it looks like many homes and rentals are sitting on the market for weeks.  Granted, it is not peek season considering it is mid-semester, but nonetheless, it was concerning.

ha, I wish that was my net worth. I was also wondering about being "accredited" since there was no official drsignation.

Thanks for the reply, Nick. That is the way I am reading it as well.

I have seen an individual needs $200k income for the past two years and reasonable expectation of doing so the following year to become an accredited investor. This jumps to $300k if investing with spouse.

My wife is a stay at home mom, and I clear $200k on my income alone. We file joint tax returns. Does this mean I need $300k or does my $200k qualify if I start investing under my name alone? Thanks in advance for any help.

Does this mean  that you would need to be able to cover your loss and pay for the rest of the home outright?  I am not fully understanding the process should the project go into foreclosure.

@Account Closed I second Nate's desire to learn more about lending.  It seems like this would be safer, but is it something that would be a better return 20 years down the line than something like mutual fund investing or something similar?  If I have $50-60k annually to lend, are there enough people out there that would be interested in this and seeking it out?