All Forum Posts by: David Sumner

Hello Everyone,

I'm looking to acquire a couple of buy and hold properties and was researching different areas. I've yet purchase my 1st property and in looking at various neighborhoods there are certain ones that appear to have a number of rental available.

Should I avoid areas with a lot of competition for fear of having a hard time renting my unit? Or are there other more important factors at play?

 May I jump in as well? I need meet some more like minded individuals.

Thanks for the feedback everyone.  No unusual amount of rainfall.  Just what is normal for the area. 

Again no expert but in a past house years ago I've brought in dirt to cover up so much exposed slab around the house, don't really recall the thought process behind that, was just told I should do it. 

I'm thinking about making an offer on an SFR near me that looks to be under priced but I'm worried about the grading in the backyard leading to erosion and future foundation issues. The front yard grades away from the house and looks fine.

I don't have a lot of experience identifying these kinds of things so I was hoping to get the community's input. Should this much of the slab already be showing? 

The house was built in 2011 so any erosion currently visible would have been over 5 years. This is in Fort Worth Texas. Not sure what other information would be relevant. 

Check out the pics below and tell me what you think.

Back Yard Grade Towards House

Right Side of House

Back Door Concrete Pad

Back Door Concrete Pad (close)

Thank you in advance.

Not a flip, really no property at all in fact. I'm overly cautious and want to understand all of my options before making a cash purchase of an investment property (buy and hold intended). I like the BRRR idea but as I'm starting out I don't want to tie up what little funds I have (enough to purchase 1 property in my desired market) long term.

 I didn't want to wait the 6 months. I'm poor and that a lot of cash to have tied up for half a year. I think HELOCs don't have that same restriction, or do they?

I would prefer to use the appraised value, yes. This would allow me to get more cash out to invest on another property.

Thank you for the clarification... for some unknown reason I was thinking the only way to get cash out of a house you own was through a HELOC.

This is a bit of a newby question so please be gentle. :)

If I purchase an investment property with cash. What is the best way to get a mortgage in place for that after I own it? HELOC? or is there a way to sell the property to myself (or to my LLC) and get a conventional 30 year mortgage in place?