All Forum Posts by: David Sray

@Joe Splitrock I love this, and it aligns with my feelings on the matter perfectly. I had to do a 401K rollover from my previous employer plan to a new one, and they insisted on sending me a physical check to then forward to the new institution. What decade is this again?

@Brian Adams

I had been looking around the Killeen area at multi-families and can't help but feel a lot of them seem to be coming up for sale. You think that's related to fears around downsizing and ultimate sustainability?

Generally speaking, that area is much more affordable for an investor than Austin, but it feels a little bit like people may be downsizing their multi-family portfolio up there. Though I'm certainly no expert.

Really appreciate all the insightful responses to my question; especially the nice breakdown by @Daniel Chang.  Thanks folks!

Hi Justin,

I'm local and actually trying to get into these types of units myself, but it's a challenge. Prices have been climbing lots and it is hot out here. You look at what a property was tax assessed last year in they are being listed at least 20 - 30k or more higher now. Recently put in a full-priced offer on a fourplex outside of Austin, and we lost out because there were 5 other offers and we wanted to be conservative with the numbers. I'm not sure how some of these people are making money on rents with how much even duplexes are going, but Linda did point out rents are rising. Hard for me to bank on the rent maybe going up at this point in order to justify an expensive multi-family, but I'm not giving up!

Hello friends!

Thought I'd check in and see what the landlords of the world like to offer in order for their tenants to pay rent? I only have one SFH rental right now, but want to get into more when the deal makes sense. We are super-old skool, and are accepting personal checks (I know!) from our current renter in the mail, which we then deposit with the ole take-a-pic-of-the-check method. I want to offer our tenant an electronic method that doesn't cost too terribly much or is free. Do folks use Dwolla or Paypal?

Hello and welcome!

I'm looking in these areas myself and trying to add to the 1 rental SFH we currently own. It's a tough market out there, but I'm convinced there's still stuff to find! Looking to go mostly buy and hold myself.

Well, the seller decided to accept an offer from another buyer. We're totally cool with that because the numbers simply didn't make sense otherwise. I'm not sure how people are snapping up multi-families around Austin right now when most of the time the rents aren't possibly covering the purchase price. I'm guessing folks are banking on appreciation and continued raising of rents, but that's a bit too risky for us. The search continues!

Hi folks!

I thought I'd just post a quick note in here to begin documenting my journey into additional real estate. My wife and I are putting in our first offer on a fourplex in the area surrounding Austin today! This is simultaneously scary as hell and exciting for me, as I never really figured I'd be a landlord. I can honestly say that the info and podcast on BiggerPockets has pushed me out of my comfort zone into whole-heartedly embracing real estate as a long-term wealth-building strategy. Trying to move past fear and do this!

To provide just a snippet of background, we sort of happened upon real estate investing when we decide to move out of our first 3/2 house in Round Rock,TX and relocate a bit north, into Georgetown. After hearing all the horror stories from basically every corner, we chose to keep our old house and rent it out to a lady and her kids on a two-year lease without knowing a thing about how to be a landlord. Thankfully we had about the best renter you could imagine starting out, and I was able to handle all maintenance with minimal fuss and expense (i.e, toilet tank fix & garbage disposal). She has moved on, but through the process of bringing on new renters in June, I realized that it might be possible to do this across multiple properties. This lead me to BiggerPockets, Rich Dad, Poor Dad, and my rapidly expanding attempts to learn about real estate.

I know we are in a multiple offer situation (i.e, freaking Austin area) and we may not get it because I won't go over asking price, but I am excited to have taken this first step into the unknown to try to build wealth. Conservatively, I think this place could be around 10% cash on cash, but it's near the top range of what we can get on a conventional loan. So if it works out, I'm ready to do this and learn! If this isn't the unit, I'm confident we'll find something else. 

Just feeling kinda anxious and excited at the same time and thought I'd share.

Thanks for the tip! I'll check them out.

Much appreciated!