All Forum Posts by: Chris Coleman

@Michael Wang even the syndications that do provide income in the first year can still show a loss on your K-1, due to depreciation.

@Julie Verardi in my experience they nickel and dime you with fees, etc. Also, it was my experience that they will attempt to repair, repair again, and re-repair again and again...charging you a fee each time...before they ever actually replace anything.

@Leela Weiss

You really need to decide how active you want to be in the whole process. It’s great that you have the time, but is sourcing real estate how you want to spend it?

I recommend checking out the Articles, Forums and reading more on here about BRRRR and Turnkey, and then decide which approach you think you would really enjoy more.

There are very reputable Turnkey providers and very reputable agents, both of whom could help you meet your goals.

@Randall Marshall

It looks like you have your Monthly Cap Ex/Vacancy the same as your Monthly Rent. I’m sure that’s an error. Monthly Cap Ex/Vacancy is generally estimated at 10%.

@Ryan Keenan

The reserve requirements are what can get you. They’ll typically want to see 6 months rent reserve for each property. You can use your 401K to meet this.

@Juan Rodriguez

A few thoughts... first, you probably want to look for single young adults or young adult couples rather than families.

Also, be sure to check the HOA guidelines before purchasing, as some HOA's in the area do not allow home owners to sublet their basement (or I guess reverse in your case).

Have you considered Manassas as well? You can get a nice townhome in Manassas morning in your price range.

Check out the following reports...Emerging Trends in Real Estate by PWC and Consumer Housing Trends Report by Zillow.  Those are a good place to start.  Then you can get more detailed into data with websites like City-Data.com.  

Look for primary and secondary metro areas where there is growing population, growing and diverse employment, and steadily increasing rents.

@Trevor Whitmire welcome.  A lot of very knowledgeable investors here from Charlotte and other parts of NC.

Houston...

Houston is the 4th largest city in the US and the largest in Texas, with over 2.3 million people residing in the city of Houston and more than 7 million throughout the entire metropolitan region. 

In the next decade, the Houston region’s population is expected to increase to 8.4 million, with employment reaching 4.0 million and GDP topping $1.0 trillion.

Houston's overall cost-of-living is 3.8 percent below the average for all U.S. metro areas.

Houston led the nation in job growth in 2018 creating 120,000 jobs and is expected to do so again in 2019 with health care, construction and administrative services providing the strongest performances.

Houston is home to more than 20 Fortune 500 company headquarters and has the third largest number of Fortune 1000 companies in the world, such as Sysco, Walmart, Waste Management, Memorial Hermann Health System, Kinder Morgan, AT&T, ConocoPhillips, United Airlines.

Houston ranks No. 2 in manufacturing GDP in the U.S. with a skilled workforce of more than 230,000 industrial workers in specialties such as fabricated metal, machinery and chemical manufacturing.

@Greg Dickerson

Then at what point would it actually be considered “retrading”? Only major issues, or pretty much anything?

Thanks