All Forum Posts by: Bruce C.

Crazy.  How are things for you?  I think you ended up with about 10 properties a couple years back, how is the appreciation treating you?  

I’m sitting on the couch recovering from knee surgery.  Doctor thought it was a meniscus tear, ended up being a  congenital placae (sp) issue.  I’ll be happy to be able to move around without pain again, but I started the year off with a partial pec tear and am ending it this way, so a little unhappy.

We bought almost 2 acres in Brazoria (the town, yes, there is a town) with a triplex and two SFH on it. Triplex is three 2-1s with oversized 1 car garage. All need serious work. We also want to add 6-10 RV spots. Got it for only 70k, and there is a renter in one sfh paying the short term loan. We've only leveled the triplex so far. It needs a new roof next and a total redo inside. It's a long term project. It has put the plans for the Bolivar lot on hold. This property we're calling the FHouse. The kids think F is for fun, the picture below is the real reason though 😀

We’ve been doing work on the larger AirBnB since just before thanksgiving. Figured with the kids in home school it’d be the only time we ever got to do something like this.  We were getting it prepared for an appraisal and refi. At a minimum, well knock off 300-400 a month between the lower interest rate and dropping pmi. If the appraisal comes back near the county number, we’ll take money out at a lowe rate than our short term flip loans. We’re also appraising the smaller Airbnb as we believe we can get some money out too with the way values have gone. 

Not correct in the US. It all gets added up, and if is is positive flow it gets taxed same as your W2

You loaning your our money  isn’t going to change your cash flow.  If you haven’t ReFi, cash out refi. Get your cash out at a low rate and enough that with your new P&I your cash flow is positive but offset by appreciation. 

We bought a duplex where the tenant downstairs had elec paid foe by landlord, which was now is. 800 sqft LOWER unit, 300-500 / month elec bill. Went down one day in winter, cold outside, and they had heat full blast. Uncomfortably hot. So of course, they had the windows open. 

We got the housing authority agreement and new lease agreement that they paid all utils. Very good cash flowing property now. 

Have you called a realtor or the assoc? Based on what I can see on HAR, the HOA is $3000-4000 per year, quite a bit lower than what you're estimating

So you’re playing for the other team?… :/

Jk. Congrats.  I honestly think you might have an easier time finding a place on something like FurnishedFinder or AirBnB that will lease to you for just the off-season, and then you don’t have to worry about subleasing. 

My agent (who also acts as pm on our duplex) charges 1/2 month rent

@Lee Hampton

Hey Lee - do you happen to also know the requirements for Texas City?  I’m considering putting some mobile homes on a lot in TC, but not sure what’d be required to develop the lot

You would need to check with some local contractors, but that might be a candidate for the just pouring over the top of.  If I remember correctly, it needs to be at least a 2” on any given spot on your new top, and it looks like you’ve got the room for that.  You might be able to save a decent amount on demo and removal. 

 Nice!  Roughly how much /sqft did the builder charge?