All Forum Posts by: Enrico Angella

@Scott Barbag I’m not an expert on this, but as far as I know Texas is a non-disclosure state.

Therefore, sale prices aren’t public (only assessed values are).

In San Antonio you can use Redfin (after you login to your account and verify your email) to check past sale prices on most properties, but I’m not sure if it is works for DFW properties

@Ralph Chiaia thank you so much for taking the time to explain all the details about how you found this deal.

Did you find the maintenance issues during the due diligence or after? If the numbers still worked out for you it’s perfect. You will be more aggressive negotiating your next deal(s)!

Cheers

These days some tenants are crazy! I'm always fascinated how tenants sometimes ask landlords things that are out of this world. The fun part is that they will behave like they just asked you the most normal thing and make you feel a moron if you tell them no!

My strategy after over a decade of the most stupid/annoying requests our tenants constantly ask is this one:

1. the whole guilt part a tenant puts on you is a strategy, nothing more. And you shouldn't care at all

2. always put yourself out of the contest, using "we" or "the other owners" etc. or quoting policies that you use to treat every tenant the same way. 

3. keep the relationship with any tenant as formal as possible, it is a business matter. You provide a safe and pleasant living environment to your tenants, trying to respond as fast as possible to any maintenance request. They have to pay rent on time, maintain your property in good condition and respect the lease agreement they signed.

Best of luck with this annoying tenant!

Congrats @Susan Tan for all your achievements during 2020 and best of luck for many more in 2021!

As somebody else already asked you, how come didn't you invest in your home town? I'm curious to know what you think of Houston, what's the inventory of small MF there?

cheers

I’m my opinion, if large multi family deals are what you want to do, you should start with a couple of more manageable small multi-family investments.

I would skip SFRs and passive investing. I don’t think it is the kind of training you need to have for larger MF.

You will make some mistakes on your first deal and you don’t want to bet that everything will be perfect, because it won’t, when you start. You will makes mistakes on your projections, renovation budgets and team members.

It’s never too late to start. I would focus on your execution with small MF first. Once you’re on top of your game, scaling up isn’t that hard.

Best on luck on your investments!

@Rick Pozos

I totally agree with you. In my opinion, REI is definitely a business that requires a lot of time and devotion.

What do you think works best in SA as far as direct marketing? The old way, like driving for dollars, or did you have any luck with services like listsource.com?

Happy New Year y’all!

@Natasha Hardy ciao!

Sure, please keep me posted on your search, my wife and I are currently in Austin until the end of the month. Next week we are going to meet a few lenders and see what they tell us.

Our plan is to move to the US in 2/3 years and we really love Austin. Therefore, we are looking at San Antonio or other towns here in Texas that are within a 2 hour drive to Austin. I would like to hire a property manager, but I would want to be able to drive by my properties unannounced every 1/2 months, to ensure that the manager is on top of it!

Why did you guys decide to look at KC? Do you plan to move back to the US in the next years?

Cheers

@Aj Parikh that's a solid CoC return for that type of investment!

@Aj Parikh

If you want to tell me, I’d be curious to know what is your expected cash on cash return of your investment with RS.

Cheers

@Aj Parikh

Thanks for sharing your experience with Roofstock. I found your article very interesting.

I’ve been looking at their properties for a while and although I’m not completely sold on the idea of a turnkey investment, I really like their business model.

Cheers, happy new year!