All Forum Posts by: Daniel Tanasa

 Hello Norm, 

I am. Ok, I will send you a DM. 

 Thank you Clayton! 

Hello Norm,

 Great school districts, good appreciation and a good tenant pool are making these great areas to buy your first investment property. 

My brokerage is located in Katy and we specialize in working with first time investors. If you have any questions, feel free to reach out and I will be happy to point you in the right direction. 

Good luck with your investing. 

Hello Correa, 

Welcome to bigger pockets. Before you get started you want to surround yourself with people that are actively doing it, connect with other investors, contractors, lender, agents and wholesalers to build up your team. 

A great way to find and build up your team will be at the local REIA's ( Real Estate Investors Association). For example Greater Houston REIA has a monthly meeting every second Saturday of the month, and has 5 different in person focus groups and other online events. DM me if you want more details on that and I will be happy to send you information.

Good luck with your investing journey! 

Hello Isaiah, 

Sellers are still adjusting to the new market, some are still demanding all time high prices and those are the one that have to do the price cuts. 

You need to buy it right in this market, expect longer days on market and maybe take a 5% off the expected ARV. If the numbers still work with the extra cushion, there are deals to be made in todays market. You just need to underwrite more conservatively.

Good luck!

Hello Alexis, 

Welcome to the Real Estate world. 

Real Estate is the industry that creates the most millionaires in the US, so if you're serious about it, you can do it. You don't need to reinvent the wheel, just follow the blueprint. That's the reason I became a real estate investor and it definitely changed my life.  

Good luck in your investing journey. 

Hello Victoria, 

I usually do 5% vacancy, 5% maintenance and 5% capEx.As you said this will be dependent on how old the main components are and how old the house is. But between 10 to 20% between these 3 is a safe bet. 

Good luck!

Hey Victoria, 

You want to have everything on the tenant. The only scenario when water for example will be in your name is if you have a duplex and you don't have it separately metered. But if you have the option, everything should be tenant's responsibility, including lawn. HOA will be on you, this is similar with taxes and insurance.

Good luck!

Hey Lauren, 

Were you planning to charge a higher rent if there were 5 people in the house instead of 1 when they applied in the beginning? If the answer is no, and they take good care of the property, I will probably let it slide. I would still like to at least know who the other persons are and maybe get a copy of their ID's. 

Legally speaking, they are breaking the lease and you have the right to evict them, you just have to decide if is worth it for you. You also have the option to confront them, ask for ID's for everyone in the house and maybe ask for a couple of hundred dollars extra for the extra people. 

Let us now how you decide to go about it. 

 Hello Thierno, 

Welcome to Bigger Pockets, 

Since you are local in Houston, I think buying here locally will be a good way to go about it. Especially since Houston has so many good things to go for it. 

As far as the return you're looking for, after you pay a property management company, that is pretty hard to find in today's market and most of the time those kind of deals don't sell on the MLS.

I don't want to discourage you, start underwriting deals and you can adjust based on what you see in the market. Is good you have a solid plan, now go put it to work. 

Let us know how it goes. Feel free to reach out if you need any help and I will be happy to point you in the right direction. Good luck!