All Forum Posts by: Erion Shehaj

Are you replacing the whole system: condenser and compressor? 

For that size home you can get a 4 ton HVAC system installed for about $5500. If you need a referral, DM me and I can send you the contact info.

I’ve been working with Charlie and Jennifer Scroggins at Scroggins CPAs for the last 5 years. What I like about them is that they think strategically about taxes instead of just completing forms (which they also do). 

Give them a try - I think you will like them

If you’re interested send me a direct message and I’ll send you contact info

@Greg H. is right about Texas being a non-disclosure state. However, I'm not sure how it is in other counties, but I went to a tax protest hearing for a client in Harris county last year and they pulled up sales comps straight from the MLS *during* the meeting.

It will likely be reassessed the following year. I would underwrite the deal with property taxes at 85% of projected purchase price times the tax rate. 

Hi Carlos 

By making your withdrawal at 65, you are avoiding the penalties and fees you would have to pay if you made the withdrawal prior to turning 59 and a half. 

However, regular ordinary income tax will apply on the withdrawn amount. The real estate investments you buy will provide some tax sheltering and Uncle Sam will get what’s his (as he usually does). 

Hi Naomi 

I strongly recommend Bridget Mosallimy with Texas Realty and Management.
She has been managing hundreds of units in the New Braunfels area and she’s as good as it gets. Tell her Erion sent you and she will take great care of you. 

@David Y M. 

You are factually correct - at the macro level... 

But I would point out that we, as individual investors operate at the MICRO.. not Macro Level

One of the biggest advantages of investing in real estate is the fact that the real estate market is INEFFICIENT. You can have two identical properties, one here and the other on the street over. One could sell for 15% less than the other.

Why? Because the real estate market is not efficient. The reasons why a seller is willing to take less are personal. Often they have nothing to do with the market as a whole.

Whether the market as a whole is favorable or unfavorable is really none of your business.

You could get a terrible deal in a very favorable market and a fantastic deal in an unfavorable one.

Personally I'm not postponing my acquisitions in this market. I'm tightening up my underwriting, tuning up my assumptions and taking advantage of an inefficient market. 

May sales reflect real estate activity in the second half of March and all of April. Real estate is a “pipeline” business which means the contracts written today reflect in sales in 30-45 days. 

As such, sales are lagging indicators. They simply tell you what already happened. Leading indicators are showings and pending sales. That combined with inventory levels tells you what to expect next month and the one after that. 

According to Showingtime, showings in May just about returned to their normal 2019 levels. In the HAR report, pendings in May were up 20% compared to same month last year. Last but not least, inventory is super low at 3.6 months with interest rates as lowest level on record. 

Mark my words, when the June report comes out in 30 days time, we will at least March 2019 and most likely will be even higher. 

I strongly recommend the CPA I use: https://scrogginscpas.com

Rohan 

May I suggest a different course? 

If you think of a real estate investment as a business, the tenant is your customer and the house/property is the shop. 

Instead of focusing so much on the shop, focus on your customer. What type of Tenant do you want as your customer? Take it one step further: what do those Tenant look for in a property: location, amenities? Last question, are there properties in those locations that you could purchase at a reasonable price/rent ratio and the property could be stable and produce some reasonable level of cash flow? Buy that property. 

Remember one thing: Cashflow is a nice dividend. But fortunes in real estate aren’t made from cash flow but rather from capital appreciation through forced and natural ways. 

Hope this is helpful for you