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All Forum Posts by: Candace Buckstead

Candace Buckstead has started 2 posts and replied 19 times.

Post: Subletting Advice in ATX?

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Drew Sygit:

@Candace Buckstead are you looking to do STR Arbitrage?


either MTR or STR! I know in Austin you can't STR when you don't live there, so if in Austin it would be MTR, if outside of Austin where it's legal, likely STR

Post: Subletting Advice in ATX?

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Eliott Elias:

Check your lease and make sure it is okay. There should be a sublease section, most don't allow it 


 Thanks Elliott!

Post: Subletting Advice in ATX?

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Bryan Noth:

@Candace Buckstead 

@Andrew Bang is spot on. You have to approach each owner / lessor and request subletting be allowed in your lease agreement. Often you have to give them solid terms (large deposit, higher monthly rent, long lease term, etc) to offset the potential risks. Most of them have language added to say "All Guests of Candace, LLC" or thereabouts. I have seen the best success in the Austin area targeting privately listed properties that have been sitting on the market a while. If there is professional property management in place they likely would not take that on but never hurts to ask.


 Hey Bryan! Thanks for your advice! I figured I would likely have to entice them with a bigger rent payment and whatnot. 

Post: Subletting Advice in ATX?

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Andrew Bang:

You would need to talk to each property owner and see if they are OK with subleasing.  Its a pitch, have to show them the benefits of subleasing to you.   That said, if you look up subleasing in the Real Estate Dictionary is would say:  lots of busy work, little return.


 thanks Andrew! That surprises me that it doesn't give you a lot in return. I thought it was potentially a good way to get started when you're not entirely ready to buy a property. Isn't it not much more work than renting out a regular home? I also plan on doing MTRs, not LTRs 

Post: Subletting Advice in ATX?

Candace BucksteadPosted
  • Posts 19
  • Votes 9

I'm interested in subletting as a strategy in Austin and am curious if anyone has experience with subletting that would be willing to give me any insights! How to find an apartment that will allow subleasing, things I should know before getting into it, etc

I'm pretty new to the world of real estate so I'm not entirely sure if this is correct, but I think you could refinance that later into a different type of loan and potentially stop paying mortgage insurance...? I'm using these forums to learn so someone correct me if I'm wrong

Post: 2 Yr Househacker willing to answer any questions!

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Nicholas Coulter:
Quote from @Candace Buckstead:
Quote from @Nicholas Coulter:

@Candace Buckstead it depends on your situation! With your position I would do a 5% down single family house and live in one room and rent out the others. I would also make sure you find a property with5 bd and at least 2 ba to do this strategy to make sure you are keeping living expenses super low to allow you do save and do another property the next year. I would say live in the mater so you have a private bath. After 2 of those then you can move into multi family! Let me know if you have any other questions!


Hey Nicholas! Thanks for replying! This totally makes sense and is probably what I would end up doing, but my partner and I are going through some health challenges that require us to have our own private unit for now, so we can't go the SFH route. What would you suggest in that case is the best way to still build up quickly? Combined we will be making decent money, over 100k a year, so we can save up for larger down payments if need be, especially right now while both our living costs are super low!


I would then go after a duplex to start! Get one that is large on one side and smaller on the other move into the smaller one to cover most of your mortgage! You can do a 3.5% down payment with FHA financing if you find the right deal.


 Thank you Nicholas! Really appreciate your time! I didn’t consider looking for one with uneven units so that’s a great tip 

Post: 2 Yr Househacker willing to answer any questions!

Candace BucksteadPosted
  • Posts 19
  • Votes 9
Quote from @Nicholas Coulter:

@Candace Buckstead it depends on your situation! With your position I would do a 5% down single family house and live in one room and rent out the others. I would also make sure you find a property with5 bd and at least 2 ba to do this strategy to make sure you are keeping living expenses super low to allow you do save and do another property the next year. I would say live in the mater so you have a private bath. After 2 of those then you can move into multi family! Let me know if you have any other questions!


Hey Nicholas! Thanks for replying! This totally makes sense and is probably what I would end up doing, but my partner and I are going through some health challenges that require us to have our own private unit for now, so we can't go the SFH route. What would you suggest in that case is the best way to still build up quickly? Combined we will be making decent money, over 100k a year, so we can save up for larger down payments if need be, especially right now while both our living costs are super low!

Post: 2 Yr Househacker willing to answer any questions!

Candace BucksteadPosted
  • Posts 19
  • Votes 9

Thanks for sharing your knowledge and experiences! and congrats on getting your mortgage covered. A question I have is how do you know which loan is ideal for you? FHA vs conventional, how much you're putting down, etc? I'm planning on getting my first house hack and first house ever next year and will have maybe 80k around the time, but I also have the ability to wait and save more money if I wanted to (very low living costs right now) I'm wanting to build up my portfolio efficiently and as quickly as I can (and I also want to make sure I always have my own unit when house hacking haha!)

Post: AMA: House Hacking + Airbnb + Quitting my Job

Candace BucksteadPosted
  • Posts 19
  • Votes 9

Wow Eric, what an inspiring story! You and your girlfriend sound like you're crushing it! Congrats on leaving your W2 job already :) How did you go about acquiring your second and third properties and what kind of properties were they?