All Forum Posts by: David Savoy

Thanks for the replies.  Didn't find anything on Meetup, but did find one through another BP contact.

Experienced REI pro looking for meetup groups in Austin or more preferably, Round Rock, Texas. Any recommendations?

Hi Caleb,

My one concern about Georgetown is the schools.  They are not nearly as good as those in Leander, Round Rock, Hutto or Cedar Park and for Georgetown feeling so far out in suburbia, it is a place for families that are looking at the school quality.  You being from Georgetown, do you know why the schools are so lacking?

Thanks,

David

Hi Greg.  Just came across your post.  I bought a 4-plex in Cove in August.  I'm operating at a 14.6% cap rate and 23% cash-on-cash.  Its not a great appreciation play, but if you're looking for good cash flow and returns, Cove is a winner.

I am looking at buying a 4-plex with almost 10% cap rate and 15.3% ROI. One small sticking point for me are the monthly fixed costs. The water is not individually metered, so I'll have to pay that. None of the units have dishwashers or washer/dryers, so may not be too bad, but still considering if it is feasible to have meters added so I can bill tenants for their water. Anyone have experience doing this? Thanks!

Hi @Alyssa Vordenbaum. I live in New Ulm and am also interested in getting into real estate investing.  I've been studying it for awhile, but haven't pulled the trigger.  Let me know if there's anything I can do to help or help each other get started.  I'm looking in Brenham and College Station, although it seems CS is way more competitive and I think will stagnate when A&M caps student population.

I am also considering multi-family and am evaluating several deals, all of which fall into commercial as they are more than 5 units.  I've never invested in real estate outside of my own residence.  What are my chances of getting a loan from a private lender?  Also, does anyone have lender presentations that were successful that they could share?

Thanks Ken.  Its on order.

I am brand new, with zero deals under my belt.  I've listened to the podcasts, books, etc, but am still gun shy when it comes to committing to selecting and buying a property.  How do others on here go about this process of selection?  Is there a checklist anyone uses?  Anyone using The Bigger Pockets rental calculator?  My goal is to replace my income with cash flow from rental properties.  I don't have a lot of capital to work with and may borrow from friends/family to get started.  Any advice is appreciated greatly!  David

I found a 4 SFR opportunity, but am not comfortable with my math yet in evaluating whether or not it is a good deal. All the homes are 3-2's and total monthly rental income $4,155. Asking price is $400K and stated CAP rate is 14%. Comps show all these homes valued in the $100-125K range. Can someone help explain the best way to evaluate something like this? I plan to ask for Comps and P & L statement, but if anyone has a process for evaluation they would share I would be very grateful.