All Forum Posts by: Charlene Stovin

Hi there, I am just starting into investing, and want to look at multi-famly.  I have watched all the podcasts, articles, etc. I can find; my learning style doesn't come from reading, it comes from doing....I am one of those that learns the process by doing the process.  Obviously, the process here, one can't afford large mistakes.

Is there anyone in the Fort Worth area (I live in NW Fort Worth) that would be open to mentoring?  Helping me get started?
I know this is a big ask, maybe we can work something out as a "pay per lesson"?  I am open to ideas and suggestions!

Hi All, I keep thinking about investing in a condo or two in addition to SFR. If I can find one with lower maintenance/HOA fees, I would like to hear people's experience/thoughts on if Condo's are decent investments.

It just seems like after adding in the HOA, there isn't much left over unless I can get a good location, with a lower HOA

What are other's thoughts on buying condos and townhomes for investing?

Hello all, thank you in advance for the information
I have been looking here in Texas for a potential investment; my budget is more limited (no more than $250), I am wanting to buy and hold. With the market here being crazy, and doesn't seem to be slowing down.....I think I need to consider alternatives to SFR.

I did read some older posts on Townhouses: besides the obvious (you are connected to someone), what are the drawbacks to investing in townhouses?

Do you pass the HOA fee on as part of the rent?

I don't really have the funds to buy something off-market (wholesale) and I don't really understand that process.  And, I don't have the time to renovate working two jobs (real estate, computer work) but I want to find something.  I can't house hack, I have my own home.  So Townhouses seem like potentially the way for me to get my foot in the door

Would appreciate any feedback - good, bad, or other
Thank you
Charlene

I have one more, seems like I am full of questions

I have a town close to me that is smaller, not much there; real estate is still relatively economical compared to the DFW Metroplex.  Right now, there is major renovations going on to hotels and other buildings, and there is a ton of money being poured into the place (millions) to revitalize the community.

I am curious what people think about:

If I were to buy a property out there now, rents would cover the payment, insurance, maintenance, and management; there wouldn't be much left over that would be profit.  It doesn't sound like a good investment for now.  However, with such expected growth, and revitalization of the downtown area, and knowing/expecting once construction and renovations are done in late 2022, it would be tourism, more people, etc. would you invest there on the principle you want to make money long term on the property?

(understanding the CAP rate, other tools, etc. here on the site) - I am curious how many people look to what may be happening in the future to impact the choice to invest now - or choose somewhere else all together

I’m just full of questions.  I was curious, there is a place here that is pumping millions into their small town economy to rebuild the town, future growth and development, and to revitalize the city.  Right now rent prices are more modest, but home prices are also reasonable.  I understand figuring out the cap rate, and other considerations.  My goal is to hold the rental long term, make enough to cover the rent and upkeep, and a little more but my focus is on the long term game.

investing is always a risk, knowing that right now, there isn’t a lot of profit to be had above the mortgage price, but in a year or two, when most of the renovations downtown are done, and tourism comes in, home prices could appreciate....is an opportunity to make money on appreciation from the property long term something you would or would not consider?   either answer, why?

I did speak to someone that has short term rentals in the area' and they are doing very well.  That could be a consideration.  I would love to hear thoughts.

Hi all, have another one

I was in the process of registering an LLC for my investment properties; I don't have cash, and financing I have heard for an LLC will be much more difficult than if I were to put the property in my name. Since this is my first, I don't really have much of a choice. I have the funds for the down payment - but not to pay cash or more than the 20% down

Is it unwise to get the loan in my name, have renters pay rent and all other business to the LLC? Will that still limit my liability?
For someone's very first property - are there other considerations other than forming an LLC that would still somewhat protect me?

@Buddy Holmes - maybe I should have worded that better lol; thank you for weighing in.  I know I need to consider the cap rate, cash flow and tax implications - I was just curious, not knowing multi-family near as well, if those tend to appreciate much.

But you also brought up a good point, depreciation and tax savings.  Tax laws are changing, given we don't have a crystal ball to what changes are going to be implemented this next year or beyond, and I am just curious and looking for other people's views - given everything else is inline.....would you depreciate or take the tax savings?  Again, I just like hearing other people's thoughts - 

Hi all

I am trying to purchase my first rental; I was pretty decided on SFR but recently found out I can get a better rate if I consider more units.

I am very familiar with the market here in Texas for SFR, but how do duplexes, tri-plexes, and quadraplex appreciate in comparison to SFR?  If you were a first time investor, would you stick to SFR OR more units?

Any added advice?

Thank you all - I love the Fort Worth / Azle comments; my concern/struggle - I can't compete with multiple offers, paying more than the home is worth, etc.  For my first rental, it is difficult to get into.  I still watch those and look for opportunities.  I have a down payment, but will still have to do a conventional loan - so with the market as competitive as it is, I am not saying it can't be done, but difficult!  Thanks for all of the input!

Hi all

I am trying to research other areas in Texas that would be worth looking at to start investing.  I live in NW Fort Worth, but was thinking maybe there are other areas other than the big 4 usually mentioned, that might be decent areas to start looking at, are still reasonably priced, and offer enough job variety to support a rental applicant pool

Besides San Antonio area, DFW, Austin, and Lubbock....what other Texas Cities and Towns would you look at, and why do you think they would be a good place to invest in?  (Note:  I am counting DFW to include areas like McKinney, Frisco, Dallas, Arlington, etc.)