All Forum Posts by: Daniel J Dominguez

Hey Whitney
What did you have in mind to learn about real estate?

Hey @Brandon Cervantes

Congrats on taking the mental leap towards finding your fulfillment. Rich Dad Poor Dad is a must from a mindset point of view. The Millionaire Real Estate Investor is another must for the basics of investing. 

As for advice about getting started, i couldn't have put it better myself than how  @Chace Fraser did. Once you have decided your goals then, Definitely get your financing in line before you start searching for properties to house hack. Once you know exactly how much you can buy, finding the deal is much easier because you have the bank backing you. At that point its just about how fast you can pull the trigger. 

A good realtor will help you find properties. A great realtor will analyze the deal themselves as if it were they who were buying it and then be able to tell you if its a good deal or not based on the numbers. But a phenomenal realtor will be able to all that and come up with multiple strategies to creatively make the deal work

Texas hands down. All 4 major cities are in the top 35 cities to live in the US. There are 3 major components to buying rental property. Affordability, Job growth and population growth. I prefer Houston TX heres why; 

As of 2019 Houston has the #1 market for job creation in the US. 

Houston remains on the lower end compared to other major cities with a median home price between $175-223K and Median rent between $995-1500

In the Top 10% for cities with the highest appreciation in the US. depending on what area between 4.42-7.21% (Houston)  vs 3.37% (USA)

As of 2018 Houston is #14 for cities with fastest growth and migration from other US cities

As of 2019 Houston is #30 out of 125 cities for best places to live in the US 

Sources: 

neighborhoodscout.com

realestate.usnews.com

realwealthnetwork.com

har.com

Wallethub.com

census.gov

I love the Houston market because the barrier to entry is moderately low compared to other major metroplexes. Not to mention that the economy and job market is really stable here. It really depends on whats important to you. if your looking for cash-flow then i would suggest multifamily. if cash-flow inst as important to you then SF might be for you, as the appreciation on them makes them a good place to grow your money. Statistically speaking we've seen better returns from SF appreciation in Houston, on a steady basis, than from the stock market. 

As for the areas, for MF i would suggest anywhere in or around 610 loop. For SF i would suggest to target the suburban areas where the better schools are located

I love the Houston market because the barrier to entry is moderately low compared to other major metroplexes. Not to mention that the economy and job market is really stable here. It really depends on whats important to you. if your looking for cash-flow then i would suggest multifamily. if cash-flow inst as important to you then SF might be for you, as the appreciation on them makes them a good place to grow your money. Statistically speaking we've seen better returns from SF appreciation in Houston, on a steady basis, than from the stock market. 

As for the areas, for MF i would suggest anywhere in or around 610 loop. For SF i would suggest to target the suburban areas where the better schools are located

@Julio R Gonzalez there are certianly deals on those sites but it takes a massive amount of time and effort to look through them each day, not inlcuding the fact that you have to go through each one in order to see if its a deal or not. i personally prefer the MLS because i can enter my criteria and ill get emails everyday of properties that match

@Frank Gamez and @Morgan Madill i see where your coming from however @Ronan Donnelly, @Meir Greenblatt and the rest have hit it the nail right on the head. you must look at the data and make an informed decision on logic and not emotion. In Houston we have the #1 market for job creation in the US, Low inventory and one of the highest concentrations of migration out of most US cities. The numbers dont lie. As long as the numbers make sense then you'll be fine in any cycle. Buy right.

Rule of thumb for me is I Run my strategy through a worst case scenario and if I can make money there then I do the deal. Also as mentioned above, theres strategies for each cycle. Sophisticated investors wont flip when the market is in a downturn they might owner finance instead. Bottom line is get you education up then take action. your wasting money everyday you wait

so the other tenant has already paid 2500 for 12 months you say?

also another question to ask yourself is: is 2500/mo per unit under market, at market or above market? and if tenant moves out, will i be ok with getting less than 2500/mo?

Heard about AC Ramos

no other names comes to mind when i think of big wholsalers in Houston

@Amin Jalalzadeh Austin is a great market. i here prices are really high there. like @Neil Narayan said there are pros and cons to either strategy, but generally ive found that in Houston, SFR's are great for appreciation and MF's are great for cashflow. Both have headaches but its more about what your end goal and life situation is