All Forum Posts by: Emanuel Ohunwu

@Benson Gee If you decide to invest in Houston consider flood insurance in your numbers. After hurricane Harvey rates went up. San Antonio and DFW aren't bad places to look.

@Stephanie Sicard I bought my first duplex in Ft.Worth last fall with about 14k cash. I paid 200k for the property. What I did is during the option period I made sure everything was in tip top shape. The only thing that needs work is the foundation which will be 2k to 3k to fix. I was able to convince the seller to pay most of the closing costs and take a few thousand off the price for the foundation. Anyway I only had to pay $7500 at closing. I also got a prorated rent check and security deposit from tenants that already lived there at closing.

@Carlos Encarnacion how long have you been investing in Ft.Worth? I bought my 1st duplex in Ft.Worth last fall.

@Michael Ealy

Your post was really inspirational. I hope I can do deals like that someday. Are there any books you can think of that will help me better understand creative deals like the one you just did?

@Alex Bruski The mortgage on my duplex is 1500 a month including the 390 I pay a month in property taxes. But I get 1k a month from side a. I live on side b of the duplex and I plan on forcing appreciation to get 1200 a month. You just have to make sure the numbers work. I'm in Ft.Worth by the way.

@Maria D. Have you considered investing in Texas? There is no state income tax and you don't have to worry about overly friendly tenant laws.

@Kyle Galloway try using cozy to collect rents. I also own a duplex and thats the company I use. Save in hiring a property manager.

@Jeremiah Akindele no problem. Im in DFW if you're ever in the area let me know. Using the FHA loan I only paid 7k including closing cost to get my duplex.

@Jeremiah Akindele The Bigger Pockets podcasts are really helpful. I listened to them on my way to work. I bought my 1st multi family home last yr using an FHA loan. I never went to any expensive classes.

Why not become a realtor? I think it's cheaper than a 4yr college and you can take advantage of the housing boom!