All Forum Posts by: Cody Meyer

Korbin Gilbreath since I'm not physically in the area yet, I've been using pretty much every real estate source there is. Craigslist, realtor.com, Zillow, and loopnet. I know they advise against some of those, but getting my foot in the door 1st seems like the way to start before getting creative on the search.

Hi all, I'm moving to Waco, Texas soon and I'm looking at a few different properties. One of which is a multi family unit. The multi family is being offered with an option fee and since I'm new to all of this I vaguely understand how they work. I assume you negotiate a purchase price, pay the option fee, move in for X amount of time, and at the end of X amount of time, purchase at agreed purchase price? Let me know if I have that right. My big question is, would you work with a real estate agent before putting down the option fee and moving in? Although you're not buying the house at that time you are still negotiating a price. And honestly I've only been to the area in which I'm moving a few times, never been to the area in which the property is in. No matter how many times you walk the neighborhood on google earth it's no comparison to being there and living it. A real estate agent could be beneficial in many ways, like knowing the area much better than I do currently and even being able to vaguely tell me if its a decent deal. Keep in mind when I make the move I'd prefer to be moving directly into the unit. Any advice is appreciated! I'll absorb as much knowledge as you can offer!

Travis Francis thanks for that advice, it didn't even cross my mind to do that. I'll find out on Thursday of this week if I'll be working for Baylor University so I'll definitely let you know. But I plan on moving forward with this process as soon as I know for sure.

Wow, that's incredibly helpful. The house I'm looking at is also in a C+ neighborhood. Do you offer both a 6 and 12 month lease? Every rent house I've noticed in Waco has only the 12 month option. I thought about offering both, primarily because I was afraid 12 months would run off any college kids. Then again I'm not sure I want to adhere to that demographic anyways. 

So the town I'm speaking about is Waco and Baylor University of course, I'm not sure how similar the Bryan/College Station area is to Waco. If you know anyone in the area Jim I'd really appreciate any type of lead. Derrick, are you mostly renting to college students, singles or small families. Also, you said it's the hardest unit you own, but it does make money, can you elaborate on that? 

Thanks for the speedy replies!

Hi All,

I am new to real estate, but I am interested in the buy and hold strategy. I'm not looking to get rich, but like most millennials I'm searching for that financial independence. 

Back to the question, I'm moving to a new city in Texas for a job very soon. I'm interested in investing in a property I've found. The property is a 2/1 older home in an area just a few blocks from downtown and only 2 miles from the campus of a large university. The property has been recently renovated and looks great and for the price I know I could make a good profit from renting. However, my primary question is how much luck have you all had renting out 2/1's? The amount of money I have to invest is enough to purchase this property, but I don't have enough for the average 3/2 in town. Should I wait until I do have enough to invest in the popular 3/2? Or should I get started now and jump into the 2/1?

A little more background about the area, it is a midsize college town in Texas. Most schools in the city, such as where this house is, are not ranked so high. It does have a growing downtown area. The college is fairly large at around 16,000-17,000 students. Also there are a plethora of 2/1's in the area as it is an older area and many of the houses were built pre-1950's.

Thanks!