All Forum Posts by: Bryan Tasumi

@ Nick S.  Okay what I don't get is why the owners would want to rent the condo units out at a loss. For example I am looking at the Mosaic luxury apartments and they are renting them out for 1.3k, 1.5k. 

http://www.har.com/mapsearch/?map_tools_nwlat=29.7...

If you buy the condo at $200,000 (they are actually going for more) with 20% down at 4.267% interest rate 30 year fixed, with 2.6% property tax and $500 HOA dues, the monthly payment comes to $1,789/mo if you buy. Why would the owners rent for cheaper than 1.7k per month then? I am assuming they have paid off their mortgage already or can't sell. There are a whole bunch for rent on Har.com for 1.7k or less.

Do most properties you buy cash flow positive? What percentage of properties that you purchase will cash flow positive when rented out? 95%, 90%, 80% or less? What is the risk of buying a property that does not cash flow positive? 

Do all condos and town homes in Texas cash flow positive? I am talking about in the Houston, Dallas, and Austin areas where the property taxes are high 2.6%+ and have high HOA fees.

I don't really understand the percentage of properties that cash flow positive and whether high property taxes in states such as Texas and high HOA fees always make the cash flow negative or what.

Any advice/insight is greatly appreciated. Thank you!

Okay, I see many private rooms being rented $700 or even lower ($550) very close to the medical center on Craigslist and Facebook. I am assuming that buying a condo/SFH/townhome to live in yourself would in no way compare to renting financial wise (meaning that you would come out MUCH ahead if you were to rent than buy). I don't see how buying even comes close in terms of numbers. If you guys say otherwise, please post actual numbers of properties near the medical center where buying a home (even house hack) even remotely comes close financial wise.

Here is $550 private bedroom: https://houston.craigslist.org/roo/d/museum-garden...

$750 private room with private restroom: https://houston.craigslist.org/roo/d/great-private...

Basically, I am just trying to figure out whether one comes out better financially renting or buying near the Houston medical centers. Right now it is looking like it is much more favorable to rent in terms of pure numbers. Is it possible to cash flow homes near the medical center with house hack after taxes and all expenses are taken into consideration?

Why would people buy condos/SFH in Texas if they wanted to live there for work?

Let's say someone wants to live in Houston, TX near the medical centers for work. Would it be a logical argument that renting is almost always better than buying a condo/SFH? The property taxes alone are more than the rent so how can it even make sense money wise to buy? What would be the reasons to buy, and how would they beat the low rent prices in Houston, TX?

Again, I am not sure why people would buy condos or SFH if they were single and needed to work/live in Texas. Let's say there is a 1-bedroom, 1-bath condo in Texas selling for $200,000 in downtown Houston. The property taxes would be a little over $5,200/yr (2.6%) and the HOA fees might be something like $500/month*12 months= $6,000/yr. That's already $11,2000/yr. Together with mortgage interest and closing/selling costs and repair costs, maintenance, etc., why would someone buy a condo in Houston, TX *versus* renting a 1-br, 1-bath for $700/mo? It wouldn't even make sense financially if they paid all of the mortgage off right? I see condos as money sinks in all of the large Texas cities. Doesn't the property tax alone wipe out any financial advantage of owning a home in Texas?

I want to live in Houston but I don't like it being a hurricane city and dealing with floods. If there were no flooding/hurricanes I would invest in Houston only. Any advice? Are hurricanes and flooding worth it to invest?

Buying rental properties 3 hours away from each other-Good idea??

I am planning to live in Houston and buy rental properties in San Antonio, Austin, and Dallas. The cities are all in Texas but located approximately 3 hours away from each other. Is this a close enough range for rental properties or too far away? I would have to use a property manager for them correct?

Thanks for the input Elizabeth. My main concern is flooding. Will I have to make large repairs if I buy one of those modern multi-story homes? How much flood insurance per year will it cost now after Harvey has just happened? 

Thanks for your responses. How do I figure out what specific streets were flooded? I have looked at FEMA maps but I want to know down to what streets were flooded and how high the water was.

Also, another question: why do home builders not raise the new buildings off the ground if Houston is in a hurricane/flooding zone?

Is Houston worth investing? I plan to work in Houston as a health care professional as they have so many hospitals. I want to house hack but not sure if I should buy a SFH due to hurricanes and flooding. If there were no hurricanes/flooding I would pull the trigger for sure. I think I would love the nice condos over there but I don't think I can house hack them.

Anyone have any advice for whether I should just rent or buy a SFH, MFH, or something else to live there. I plan to stay in Texas for 4+ years for medical school and work. I have about 100k-150k cash to work with and am thinking about investing in a place rather than renting. I am just not sure which market to invest right now with my goals. I am not sure where I will be going for medical school yet but I want to buy to establish residency in Texas and hopefully get into one of the medical schools in Texas.

My plan is to house hack and/or invest in real estate throughout medical school (maybe pay a property manager once I start medical school) to build equity during the 4+ years. I wouldn't mind doing my residency in Texas as well and starting a family there. I am wondering if it is wise having multiple rental properties in all 3 big cities of San Antonio, Dallas, and Houston. I plan to invest in real estate as a doctor. 

Any advice/suggestions would be great. Thank you!

Which is better? Asking close willing and wealthy family member for down payment help vs. asking them to buy property for cash and become the bank? 

I am planning to invest in my first house hack property. I have about $150k cash and looking to invest in Texas (Houston/Dallas) or Bay Area. I am planning to buy a business and/or go to grad school as well but also want to house hack so I am looking to borrow from family. I'm not sure if it is worth it to borrow from family to save on closing costs or for other reasons or to just buy the property myself. Can I generate enough cash flow to pay for grad school in full every quarter/semester (medical school or business school) if I house hack? I basically want to live and pay for graduate school for free if possible with 150k invested in real estate but I don't know if that is possible right now in either Texas or California. 

What would you do if you had a close wealthy family member who verbally said yes to helping you buy the whole property for cash and be the bank? I am 25 y/o college graduate and may pursue grad school as well.