All Forum Posts by: Brian M.

HI All, I have a few smaller multi family and SFR properties and I am ready to take the leap into 5+ units. This of course will get me into commercial lending and should I go with a commercial lending broker, or try and find commercial loans via smaller, community banks. I'm in Japan currently and wanting to purchase larger multi families in Phoenix or Tucson, so convenience is a key swing factor in my decision. Thanks for your thoughts!

The tax you quote for $650 -- this is the annual tax assessment per month?  As you know, TX property taxes are fairly high (although Lubbock is on the low side within TX).  I purchased a SF rental last year for a much lower selling price (<$100K) and the assessed tax was approx. $1300.  Getting this one line wrong will certainly eat into your cash flow for sure.

I just purchased a triplex in Phoenix, AZ and was recommended to install a laundry room on the property.  I received a quote to construct a laundry room and the total bid was for approximately $8600.  I'm not sure if it's really worth it, but wanted to get your thoughts?  I was told that this will help raise rents to be more competitive vs. comps in the area.  Anybody have any experience with adding a laundry room and is there any hidden costs / watch outs to be aware of?

@Cameron Lambo

Thank you for the suggestion and I will definitely give him a call.

Best,

Brian

I just purchased my first investment property in Lubbock, TX (YES!!) and I am interested in any ideas/suggestions for property insurance providers?

As an expat living overseas, I have established a few LLCs as I start my investment rental portfolio. What I am running into is finding a bank which will allow me to establish a business checking account online. It seems as though it’s becoming more difficult to do so without having to actually finish the process at a local US branch. Any suggestions?

@Asher Knudson I would definitely separate personal and business accounts. Keeps things simple and straight forward, especially if there was ever an audit

@Tammy PatchinThanks Tammy

@Phil DoddWow, sounds like you found a great deal...Congrats!  Yes, I agree with you that this may in fact be the issue

@Rick Pozos Thanks for the reply and agree with your comments -- perhaps the issue I'm finding is that I'm only looking via my realtor and MLS, and not marketing for deals. The issue is that I'm overseas and of course, I"ve looked into turnkey, the returns are even worse going that route in TX...