All Forum Posts by: David V.

Hi, I am also interested in what others have to say as well. I am interested in the LIA program from LandInvestor.co. I like their style

All awesome points, thanks everyone for the input!

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

@Jake F.

Jake do you own a SFH there on the island or a condo, if its a condo how does the HOA fees factor into your profitability?

@Elio Guillen

I do have the same concern. Everywhere I see, tons of 4plexes. I was reading an article how the vacancy rates on those were higher than average a few years ago and that was before the recent building boom last couple of yrs. Population is not growing as fast anymore compared to the last few decades by quite a bit.

Hi, I am considering looking for and buying a 2-3 bedroom house in the upper RGV. My idea was to rent to section 8 housing, mainly due to security of having the majority of rent paid. I have done general research but wanted some input on local people if possible who have done that in the past. 

I had some general questions. If I want to put my home to rent for section 8, assuming it passes inspection, etc do they have some sort of pre set funding where they can only accept certain amount of houses per yr? How much of a headache is it really dealing with them? Is it similar between housing authorities or differs quite a bit? Is the HUD website showing average rents pretty accurate?

Any other advice is appreciated

1 year old Class A-/B+ 4plex property, gated neighborhood in South Texas

Price 345k, 5% down portfolio loan, 4.5%

Income: 3400 monthly

Monthly Expenses: Mortgage Payment $1660, Taxes: $708, HOA $42, Insurance $150, Vacancy- 6-8% ($204-272), Grass Maintenance- $50, Utilities: $100 (landlord pays common areas, trash)

Annual Maintenance Expenses: estimating $500-1000 first few years since it is new, but please input?

I think Vacancy likely should be 6% or less.

Cash flow is about $400 a month after the first year when it would be a house hack the first year, equity would be about 5k yearly. I would like to add a couple of payments yearly to principal if cash flowing well.

Its only a 7% cap rate if the numbers are accurate. I would like higher but the taxes and the 4.5% interest are factors. FHA would be an option but after the fees and PMI the payment is a few dollars higher. What do BP users think?

1 year old Class A- 4plex property, gated neighborhood in South Texas 

Price 345k, 5% down portfolio loan, 4.5%

Income: 3400 monthly

Monthly Expenses: Mortgage Payment $1660, Taxes: $708, HOA $42, Insurance $150, Vacancy- 6-8% ($204-272), Grass Maintenance- $50, Utilities: $100 (landlord pays common areas, trash)

Annual Maintenance Expenses: estimating $500-1000 first few years since it is new, but please input?

I think Vacancy likely should be 6% or less.

Cash flow is about $400 a month after the first year when it would be a house hack the first year, equity would be about 5k yearly. I would like to add a couple of payments yearly to principal if cash flowing well. 

Its only a 7% cap rate if the numbers are accurate. I would like higher but the taxes and the 4.5% interest are factors. FHA would be an option but after the fees and PMI the payment is a few dollars higher. What do BP users think?

Purchase price would be 345k, 3900 sqft, rents are 3400 monthly after the 1 yr house hacking (once all 4 units rented). 

What would be a % number that i can estimate for maintenance on a 1 year old apartment, class A type. When I lived in apartment (class b, 10 yr old apartment at the time) in a college, we asked maybe for 2 calls over several years, once the dryer broke and was fixed. Another time the fence gate latch needed to be replaced. 

thanks