All Forum Posts by: Jeff Richardson

Rate vs Payment

A low rate doesn't mean the lowest payment. Find out how much we can save you.

@Brady Skinner I think that's a great plan, that is how I first got started. We used savings and commission checks to buy at least one buy and hold a year, it adds up quickly. Good Luck with your investing!

@Manon Sheiman Have you both already used up all of your conventional loans? I would go that route first. If you have, then you could move to portfolio lending and get much better rates than private money would charge. 

I believe at 3 months ownership that would be taxed at regular income, not short term Capital gains, which I believe kicks in on day 366.

@David Luna I am a Lifestyles Unlimited member and they have helped me purchase all 8 of our rental properties. They have an office in San Antonio and Austin. You should definitely check them out.

I currently buy in Houston, and you really have to have the best GC and Property manager, and everything will go smooth. If you don't it can be very hard. I would get as many recommendations as possible before choosing. 

@Tochi Okoro Typically the lower the price of the property the higher cash flow you can get, but I would shy away from anything with less than $100,000 ARV because the tenant pool is harder to deal with, I would also stay away from an ARV above $150,000 because the cash flow/ARV is going to be lower and the tenants are sometimes harder to deal with as well. Fort worth and most of the outlying cities on the southern end, like Lancaster, Crowley, Arlington, Grand Prairie, Desoto would be your best bet.

@Khizar Hanif You can find much better deals than this in Houston, the equity is too slim and Houston is known for excellent cash flow. To me Cash Flow is the best part of real estate otherwise you're betting on appreciation and debt paydown, there are better investments than real estate if you don't want cash flow. I would also not buy cash either as you will have that money in the deal earning little to nothing for 6 months while it's seasoned or you could do delayed financing and get the purchase price back almost immediately. To me Hard money purchases are the way to go so that you have less money in the deal. 

@Boyang W. I would say the southern cities like Desoto, Lancaster, Midlothian, Mansfield, and Crowley would be your best bet.