All Forum Posts by: David Hines

Usually the landlord pays that, but keep it in mind when you are setting the rent amount and make sure it is included in your analysis.

Buildium is $40 a month for 40 or fewer properties. I really like using them because in addition to accounting software, you can accept electronic payments (only 50 cent transaction fee). I made the transition around the first of the year and no longer have to deal with checks in the mail. It has really simplified rent collection for me.

I think it depends on the price point you are at. Assisting investor clients, I see a lot of 3-4 bedroom properties for less than 200k and I would say it is NEVER worth the expense to stage one of these properties. If your property is more in the 300-400k+ price range, then it may be worth it.

Stephanie Corral keep in mind that there is no replacement for the knowledge you gain through experience. Anyone trying to sell you "the secrets to real estate" is more than likely just after your money. Most of the gurus I've come across make their living at being a guru and NOT as an investor. If you want to learn, get out there and get involved, this industry isn't as complicated as some make it seem.

You could have a Realtor pull the history for specific areas off the mls. Just keep in mind that looking at the real estate cycle is entirely focused on past performance. While you can see pretty easily if the market is contracting or expanding, being certain about the high point or low point is impossible. For example, you only know you were at the peak after prices start to drop.

The 90 day protection period is completely standard and just refers to the properties the agent has brought to your attention. The 4 month period on the agreement is really the objectionable part. This agent is trying to lock you in as a client. If this is not what you want, tell the agent to make the agreement for a shorter period of time or specific to the property you are making the offer on.

Hire a realtor. Getting the property on the MLS is the key to visibility in the market.

Make sure you have solid contingencies in your contract. However, worst case scenario should be the loss of your earnest money and not having to buy the home yourself. Make sure your contract states that keeping the earnest money is the other party's sole remedy and not specific performance.

@Justin K. @Jennifer Bondhus I am a real estate broker and property manager as well as an SFR investor in the Katy/ Cypress area. Let me know if there is anything I can ever help you with.

@Justin K. It's important to keep in mind that a lot of investors are more interested in cash flow than ROI. Kathie is correct that ROI will increase if cash flow goes up, however, that won't be true if your cash flow is going up because of a larger down payment. I would say that most investors put down the amount required by their lender. If you plan to owner occupy at first and then turn the property into a rental later, you will get a much higher ROI, because you'll be able to put 10% down. Most investment loans require 20-25% down.