All Forum Posts by: Frandy Ho

Thanks for all the input from everyone response to my question. I am 68, my husband 69. So in 2 more years, we are required to distribute abt 5% of our 401K & IRA combine fund. We are not self employed, so most likely I have to move 401k to a self direct IRA if I wish to purchase RE with our retired money. The question is. If I use the fund to purchase RE, the 5% distribution is base on the home value or the rental income I receive.

I am looking into settin up a self direct check book IRA account and transfer existing fund in my 401K to invest in RE. My goal is to get stable rental income each month to support my living. I think its saver than stock or bond market in long term. I have 2 questions and wonder if anyone has this type of experience can answer. (1) If I were to invest a property worth 200,000 and earn a net income after deducted all expenses is 14400/yr, I have to take 5% distribution. Is the distribution base on 200000 or 14400? (2) what if I sell the property in a few years, how to figure out the new distribution?

@Rick Pozos, and @Tamara Elliott-Deering. Thanks for both advice, so where to look for such investment? 

This is my first posting and I am interest in purchasing an investment property- Single Family Home in Texas. Dallas, Austin & San Antonio are my potential area. 

I found 2 investment companies in Texas online, AREI (American Real Estate Investment) & Home Union that help investor like me to purchase rental property in Dallas &San Antonio area. It looks like both companies are buying low cost properties in volume, Rehab and resale. They provide details of each property with an estimate return of net 6%. I need someone has experience with these companies give me some feedback. Are they reliable source or I should look for a RE agent instead.

I also contacted a RE broker referred by a friend who has investment property in Austin but he only sell &  buy Austin.  When I ask him about rehab property, his feed back was the market is too hot today,finding an undervalue property is unrealistic.  He emailed me a listing that listed properties sold to support his statement.  But I went to zillow and found a foreclosure property listed at 88K. I don't know he is the right agent I should hire.

I am looking into an 8%net. Is this a realistic No in Texas?

I have been a landlord for many years, the simple way to show my rental property to potential tenant is to hold a weekend open house. Usually 3-4 hours is enough. I have a sign in list, so everyone walk in the door will sign their name, phone No, how many members are living in. I also provide a list including description of the house, the rent, deposit and any particular rules and potential tenant who is interested in renting my house will complete an application and pay $30 cash for a credit & background check.

I got to meet each of the potential tenant and their family for a brief screening, answer questions and understand some of their background.  

One more thing I did is after I place the Ad, I will give them the address to and ask potential tenant to drive by and check on the location and outside of the house then I will let them know the open house.

I usually rent out my house within 2 weeks and none of my tenant has problem in paying rent.

I hope this will help.