All Forum Posts by: Taylor Dasch

Great thread and I love to put my dreams out into writing. I want to purchase an apartment complex >20 units within the next 5 years, with a 7% cap rate

 Wow your wife did amazing! Especially buying and matching from different sources. I 100% agree, the photos put you way ahead of the competition. It blows my mind that some RE agents are still not using professional photos.

That is what I thought as well when I started, but there are way too many deals out there to get them all, plus if my client gets one then I have more money to buy my next deal!

Wow that property looks really nice and you guys did a great job with the pictures. Did you use an interior designer to do this?

Completely Agree with Robert, but it does all depend on what your end game is.  I am a Firefighter (probably similar to what you do) and need the monthly cash flow if I am going to retire early.  I invest in Temple, the properties here cash flow really well but also provide decent appreciation.  Killeen cash flows even better than Temple but in my opinion the appreciation isnt as good.  I am also a realtor in Temple and know this market pretty well, so if you ever have any questions I'd be happy to help!

Texas in general is pretty good for cash flowing, I havent done any research on Houston, Also its best to do the research yourself so you can see what works for you, talk to people who invest there, and make a decision.  The most important thing for me is playing it safe and having reserves in case the market does crash or It takes me longer than expected to find a good tenant.  I am currently buying right now, as I am with David Greene in thinking that inflation will keep occurring, If the $ is in my bank account it is just becoming worth less. With that being said, I wouldnt buy anything that doesnt cash flow really well. Its all in your goals. Let me know if you ever need any help! I invest in Temple, TX.

Hey Bill, I am just down the road from you in Temple! Be sure to join the Contractor Underground FB group.  There are contractors from all over (mainly Austin). I either make a post and get a few people to come quote, or use the search function and type in my city. 

I had the same issue investing in Temple, I saw properties that have been on the market for a while and got spooked, but the issue is that is all that you will see because once the property gets rented out, it is taken off the market.  You need a reliable way to find properties that are already rented out, with their days on the market, a good RE agent can give you a much better idea of what you can expect.  Before I was a RE agent, I would take a picture of properties for rent and check in to see if they were still there and at what price point it was but there are much better ways to keep track of it.  I want to buy a property in Georgetown to occupy but I believe there are better cash-flowing markets in the area, as far as appreciation though, Georgetown is probably up there with one of the better markets in Texas. It just depends on what your goals are! I hope it works out for you.

Do you actually want to buy the property? If you just want to help them out and are very familiar with the market, a great option and what I would recommend for them (given they have proper knowledge or guidance) is cash out refi, invest in a high cash flow area which would most likely not be Austin, then receive monthly income that way, It should be more than enough to cover the new mortgage as well as provide enough monthly income to live off of assuming that their monthly expenses are not too high.  Because the other option is buying the property, then they would have  a whole bunch of money just sitting there, with inflation going the way that it has been, that would not be the best option. My dad is going through this right now, I have been trying to get him to invest as well.  Another option is to sell the property on the market, downsize, and invest the rest for monthly income which now that I type it out I figure is what the plan is lol, If they can live off the income from the seller financing then that is a great strategy. If they are going to stay in the property it doesnt make any sense unless their rent would be significantly lower than the monthly amount you are paying them for the owner finance.  

Thats incredible to find a deal like that under 300k in Austin, You have a great attitude and back it up with a great mix of intelligence and risk evaluation.  A lot of people would have seen that appraisal at 20k below sales price and backed out of the deal, but since you know the market and had a great realtor you pushed it through! That is awesome man, keep us updated on your journey!