All Forum Posts by: Chris Cantu

I'm looking to buy an STR near the Texas coast and I came across this one. Anybody running STR's in this are to see what numbers can be expected.

4bed 3Bath with pool that can sleep up to 14.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000
Cash invested: $24,000

Bought this one mainly because it sat on a 1/2 acre lot in the city. Rehabbed the existing 2/1 home and fenced off 1/3 acre for the renters and will split this lot on order to build another unit.

Investment Info:

Single-family residence other investment.

Purchase price: $165,000
Cash invested: $20,000

This one was our primary residence, moved and rented for $2000. Good neighborhood with great renters. have a 3% interest rate on this one so it works well.

Investment Info:

Single-family residence buy & hold investment in Norwich.

Purchase price: $85,000
Cash invested: $35,000

Purchased cash back in 2021, rehabbed for around 35k. Appraised at 170K, Refinanced a 15yr and leased for $1450. Not a lot of cashflow on the 15 year cash out of 120K, but paydown is coming along quickly.

@David Ray Norris Jr. Thanks David

Any recommendations for a CPA that already works with Real Estate Agent/Investor teams as clients. Preferably in Corpus Christi TX.

Tax strategy, entity structure, and wealth planning

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $109,000
Cash invested: $20,000

3 BR 2 bath 1500 sq. ft.00 sq. ft.

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

The house had a partial renovation started, I could see the value of what had already begun.

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

I had a different deal under contract and it fell through. The house was found to have an addition built over the neighbors property line. I wasn't interested in dealing with that, so the realtor offered to show me a home she was going to list the following day. I paid the asking price without negotiating, It was already a deal and I wanted to lock in the contract.

How did you finance this deal?

Conventional loan, 5% down

How did you add value to the deal?

I converted the attic to another bedroom and bath. This added 400 sq ft.

What was the outcome?

Everything worked out.

Lessons learned? Challenges?

I did most of the work myself, weekends and holidays. It was tough.