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All Forum Posts by: Elva S.

Elva S. has started 7 posts and replied 15 times.

Post: Options for my 4 beds home

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi BP friends! 

I'd like to have your input and recommendation.

We have recently purchases a new primary home and my current 4beds/3Baths, 3200sqft home will become available.

I am thinking about renting this home to a short term lease company who manages short term lease. That way I don't have to manage the property myself.  I have tried to post this home for a long term lease myself but got very few interests. I am hoping to have $3000/ month rent 

Any recommendation on the short term lease companies in DFW area or any other suggestion with handling this size house? 

Thank you very much! 

Post: Austin and its suburb rental homes

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi BP family,

I am located in North Texas and am looking into rental properties in Austin and its suburb. I know I may have already missed the party since the pricing of the properties in these areas have been taking off. One interesting thing I have found recently through some rental and sales comps is that the home prices are getting higher and higher however the rents don't seem have the same level of increase. I haven't seen any 1 % rule properties at all. 

The areas I am looking at are Buda, Manor, Eglin etc where are relatively close to Tesla factory. 

Just wanted to know your thoughts who invests in Austin area - is it still worth to chase the price and waiting for appreciation with a buy and hold strategy or there are still chances to find good rental properties, I  just haven't found them yet. 

Thank you!!

Post: Health insurance for full time investors

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi BP family,

My husband and I are thinking about quitting our W2 jobs and becoming full time real state investors and landlords. Do you have any affordable & with good coverage health and dental  insurance recommendation for us and the kids(we have three young kids)? I guess that's the only road block i am having from making my decision. Thank you!!

Hi Cindy, 

Is the registration closed? Am I too late for the event? 

Hi Chris!!

That's is a great idea! I never thought about that! Sorry for my late response almost a year late! I am going to take a look at my loans and move around some of the mortgages! Thank you very much for the advice!

Originally posted by @Chris Mason:

Hi @elva s.,

Before needing to go portfolio/commercial, you can usually squeeze a bit of life out of your cap of 10 with a few tricks...

1) 10 in husband's name alone, 10 in wife's name alone. Great, now we're at 20.

2) Shove debt around. Let's say you have a $600k property that you owe $200k on, and a $100k property that you owe $75k on. Cash out refinance the $600k property to pay off the $100k property, so the debt of both properties is under a single roof. We just reduced the number of financed properties by 1. I've done them where you do a batch refinance to, say, shove all the debt of six properties into 3 properties.

Post: What if maxing out 10 Mortgages?

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi Caleb,

Not sure I have answer to your questions...but we haven't reached 10 yet but close that's why I am trying to look for the next move.

The properties are 100% owned by myself so I don't have experience with co-owners on the mortgage.

Sorry for that.

Post: What if maxing out 10 Mortgages?

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi Caleb,

Please let me know your questions. I will try my best. I consider myself as newbie as well though!

elva

Post: What if maxing out 10 Mortgages?

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Thank you very much, Mark. I will contact them. Does it usually take longer than 30 days to close with a portfolio loan?

Post: What if maxing out 10 Mortgages?

Elva S.Posted
  • Bedford, TX
  • Posts 15
  • Votes 4

Hi BP!

I have a quick question to ask about Finance. We are almost at the point that we will reach the 10th conventional mortgage. Please give me a few names of the local banks, union credits etc that you would recommend in Dallas/FT Worth areas, preferably in Mid Cities. If you are able to let me know what the terms look like that will be very helpful!

Thank you very much!

Elva

I found a HEB RSI club. that's awesome! Thank you for sharing!