All Forum Posts by: Chance Bostick

Once, new folks are in-place, and I'm satisfied with them - I always say to them - I want to keep you happy & keep you here, as long as you want to stay.

Thanks Jim! Those 2 things will absolutely be at the top of my priority list if Im able to rent to college students.

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Originally posted by @Ann Harvey:

Chance, it was easy because where I live there isn't enough housing for renters. We could actually earn between $100-$200 more per room a month if we rented at the rates going around our neighborhood, but we like to keep it at a price we think is fair and good for students. When we have our next rental property, we're more likely to advertise/rent at the going rate, though! Right now we're more emotional about everything...it's a very personal kind of thing, in a way, but we know to really make this work we need to start approaching it as a business. I'm here to learn, but wanted to let you know it's worked well for us to rent to students. :-) I wish you the best!!!

Glad to see its going well for you! Keep up the great work!!

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Originally posted by @Jim Cummings:

@Chance Bostick. Don't know how long you been back home in Belton, but one of the things I've always counseled Buyers on is to "Be Ready - But Be Patient".

Meaning, have all your Ducks lined up, (Loan Pre-Approval, etc) so you can make an Offer quickly, but also know if your looking in the right area & right price range - the market will deliver - eventually!

Depending upon your job situation & location - Temple might also be a viable option.

Thanks Jim! I'm going to start looking at the SFH market in this area

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Originally posted by @Laura Sulak:

Hi, @Chance Bostick. Welcome to the Belton/Temple area! @Jim Cummings (@mention is not working for Jim) is exactly right. Multi-families in this area are very hard to find, but they're out there. Do everything he said to do so that you're ready when one comes your way. There are also some good single-families in the area, especially if you're willing to do some rehab. I would steer clear of Killeen, though.

There's a great REIA meetup here, run by Vern Darlington. Very nice people, very supportive, always with an educational component. https://www.meetup.com/Masterminds-of-Cen-Tex-Real...

Start by reaching out to a couple of local RE agents and let them know what you want, set up alerts for your criteria on Trulia, both for homes for rent and for sale. That way, you can get an idea of what's in the area. And drive around looking for homes that might be in disrepair (someone might be ready to get rid of it), for rent (landlord might be ready to get rid of it) and for sale. You never know what you might find.

Best of luck in your ventures! Remember: Luck favors the prepared.

Hey Laura! Thank you very much for this reply, I'll take a look at that meet up and hopefully find a time that I can attend here soon. With all of the rapid growth in this area over the recent years, it seems like a great time to invest

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Originally posted by @Ann Harvey:

I'm a newbie and still learning, I'd like to say, however, that my husband and I bought a house that we live in and we rent rooms to college students and have LOVED the cash flow. Definitely wait to hear from others, but wanted to chime in that we did it without a lot of knowledge and now we're super excited to learn about real estate investing and make this a solid way to earn income!

Best wishes to you...great you're starting so young, too!

Thank you very much! Good luck to you and your husband as well! Was it an easy process finding college students that wanted to rent from you?

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Hey guys,

I just finished reading Rich Dad Poor Dad today and really enjoyed the book, but now I'm ready to start taking action. I live in a relatively small town in central Texas with a population somewhere around 21,000. We've got Walmarts, movie theaters, a bowling alley, a lake, tons of restaurants, etc. We are an hour from Austin, and 2-3 hours from Dallas, San Antonio and Houston. We've got a University in town and a ton of new businesses and housing developments are going up left and right. New schools are being built, including a 2nd high school. It seems like a pretty great time to dive on in and get started.

I had originally wanted to house hack a multifamily, but there aren't any here. At least none that are for sale. The ones that are here are either brand new or 20 miles away in a high crime area.

After reading that book, I've started thinking about other ways to invest and am now considering a single family home that I could both live in and rent out the other rooms to college students. Does anyone have any experience with this or advice?

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Hey guys, I've been on biggerpockets for awhile now, but 99% of that time, I was living in Los Angeles and was nowhere close to being able to afford real estate. I've moved back home to Central Texas in a small town called Belton. I'm very interested in house hacking a multifamily, but so far there don't appear to be a whole lot of multi families in this area. The ones that are here are brand new, on newly developed land and not for sale.

Any advice on what I should do? Should I branch out farther or try and save up for a single family home?

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Hey Ethan,

Im new to real estate as well, but just wanted to say welcome to Central Texas! I live about an hour north of Austin in a city called Belton. Just getting started, but excited to see where it goes. Good luck to you

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Create enough passive income that I can buy a nice house on the lake in my hometown along with a boat and a couple fishing poles haha

Id spend a lot of time traveling as well. I've got a goal to visit all 30 MLB ballparks, got 23 left to go so I'd spend time following the Texas Rangers around

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Houston, Texas

Hey all!

I'm Chance, I'm 24 years old, originally from Texas, but I've been living in Los Angeles for just over 5 years.

I work in the entertainment industry, currently as a production assistant on the TV show Bones. This is my 2nd season with the show and we will wrap the series in December. My job is on the lower end of the salary ladder unfortunately, but for the most part I enjoy what I do. The industry is unique in the fact that when my show is over, I become unemployed until I find another show. I might not be full time with any certain show though, I could day play. One day I might be on (insert show here) and the next day on a completely different show. Or if I can't find a show, I would just be off until I do. Will this be a problem when trying to apply for a loan? Does anyone have tips on working around this?

All that being said, I want to learn about real estate investing. I'm priced out of Los Angeles, but might be able to afford something in central Texas where my family still lives. My primary goal would be cash flow coming from rental properties. Does anyone have any advice on where to go from here?

Is any of these even possible? Do I need a more steady, traditional type job?

I've been hovering around BP for awhile tying to read and learn as much as I can, but figured I should introduce myself on the forums, so here I am!

I look forward to hearing from all of you!

Chance

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All Forum Posts by: Chance Bostick

Chance Bostick has started 4 posts and replied 15 times.

Post: Rapidly growing small town, college housing?

Post: Rapidly growing small town, college housing?

Post: Newbie, multifamily or single family in Texas?

Post: Newbie, multifamily or single family in Texas?

Post: Rapidly growing small town, college housing?

Post: Rapidly growing small town, college housing?

Post: Newbie, multifamily or single family in Texas?

Post: I’m 18 and ready to start.

Post: What's your Real Estate Investment goal or dream?

Post: Newbie in LA, wanting to invest in TX