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All Forum Posts by: Caleb Roberson

Caleb Roberson has started 3 posts and replied 5 times.

Post: Homestead turned investment property #2

Caleb RobersonPosted
  • Investor
  • Ft. Worth, TX
  • Posts 8
  • Votes 7

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $5,000

Wife purchased it prior to us getting married, we lived in it for 2+ years, then rented it out and are currently managing the property ourselves. Originally rented it out for $1650/mo last year, but recently renewed the lease for $1815/month and refinanced it down to $1200/month, netting us $615/mo. 

Post: Traditional SFH buy & hold

Caleb RobersonPosted
  • Investor
  • Ft. Worth, TX
  • Posts 8
  • Votes 7

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $55,000
Cash invested: $43,000

Traditional buy and hold that I scooped up back when you could buy a house in Fort Worth for $55k. Was still a deal at the time. Changed the locks, put a "Se alquila" sign out front, had it rented the next day, and it's been rented ever since. I did have 1 eviction that wasn't nearly as painful as I thought it would be, and the tenants that are there now have been there since 2015. $13k down and later paid it off with $35k.

What made you interested in investing in this type of deal?

It was my first true investment property purchase. I'd rented out my primary residence when I was out of state for a while, but this was the first property I'd purchased with the sole intent of renting it out. The deal was way too good to pass up.

How did you find this deal and how did you negotiate it?

Working with a local agent

How did you finance this deal?

Wells Fargo traditional investment mortgage

How did you add value to the deal?

I changed the locks.

What was the outcome?

Still rented out 8 years later. The rental market in the neighborhood is rock solid.

Lessons learned? Challenges?

Know your neighborhood demographics and speak their language. The realtor I worked with tried to rent it out for me after the purchase, but her "for lease" sign was intimidating to potential renters. Basically, it was too fancy of a sign for anyone in that neighborhood to think they could rent the place. I swapped the sign for a hand written "Se alquila" (for rent in Spanish) written in Sharpie, and my phone rang off the hook non-stop. Still have the sign in case it's ever vacant again.

Post: Traditional SFH buy & hold

Caleb RobersonPosted
  • Investor
  • Ft. Worth, TX
  • Posts 8
  • Votes 7

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $55,000
Cash invested: $43,000

Traditional buy and hold that I scooped up back when you could buy a house in Fort Worth for $55k. Was still a deal at the time. Changed the locks, put a "Se alquila" sign out front, had it rented the next day, and it's been rented ever since. I did have 1 eviction that wasn't nearly as painful as I thought it would be, and the tenants that are there now have been there since 2015. $13k down and later paid it off with $35k. Not sure if I'd still choose to pay it off if I could do it again, but happy to have zero debt on the place. Appraises for ~$150k nowadays.

What made you interested in investing in this type of deal?

It was my first true investment property purchase. I'd rented out my primary residence when I was out of state for a while, but this was the first property I'd purchased with the sole intent of renting it out. The deal was way too good to pass up.

How did you find this deal and how did you negotiate it?

Working with a local agent

How did you finance this deal?

Wells Fargo traditional investment mortgage

How did you add value to the deal?

I changed the locks.

What was the outcome?

Still rented out 8 years later. The rental market in the neighborhood is rock solid.

Lessons learned? Challenges?

Know your neighborhood demographics and speak their language. The realtor I worked with tried to rent it out for me after the purchase, but her "for lease" sign was intimidating to potential renters. Basically, it was too fancy of a sign for anyone in that neighborhood to think they could rent the place. I swapped the sign for a hand written "Se alquila" (for rent in Spanish) written in Sharpie, and my phone rang off the hook non-stop. Still have the sign in case it's ever vacant again.

Post: Ft Worth, TX 76114 Rental Area

Caleb RobersonPosted
  • Investor
  • Ft. Worth, TX
  • Posts 8
  • Votes 7
Bret, I'm S of 183, off of Burton Hill Rd. There's been a couple of tear downs and high end complete rebuilds going on in the neighborhood. There's also been some total rehabs that have fetched over $225k. It's an interesting section of ft worth right now to be watching.

Post: Ft Worth, TX 76114 Rental Area

Caleb RobersonPosted
  • Investor
  • Ft. Worth, TX
  • Posts 8
  • Votes 7
Daniel, I have a few rentals in Fort Worth and the one in 76114 has the best margin of them all. Great area that is undergoing big development nearby called the River District which includes a high end apartment complex and restaurants. 3/1 recent remodel (nothing too high end) got me $1200/mo with great renters. Looking to get closer to $1400/mo when they're gone. Hope this helps.