All Forum Posts by: Peter Schuyler

Originally posted by @Joe Wright:

Quickly approaching our first purchase in Texas and would like to consult with a local Real Estate CPA that also invests.  Appreciate any suggestions.

 I use a BP referral if you do not ind that they are not in Texas.  He is strictly online, and is a fellow BPer.

Originally posted by @Adam K.:

Hi everyone,

Can anyone recommend a proven and reputable real estate agent in Dallas who works regularly with investors? Someone who ideally owns some investment properties themselves and understands cash flow and what matters to investors. Ideally, somebody who has a track record of getting investors good off-market deals.

I am looking at buying a 5+ unit residential building on a commercial loan as an investment property.

Your help is much appreciated.

With gratitude,

Adam

 I have a realtor contact in Dallas that helps with brokerage and PM if your interested, she help me find and close my duplex in Dec.  Send me a message if you like.

Originally posted by @Chimi Changa:

Hello, I am in the Dallas area. I am looking for a referral. I am looking for where to get a mortgage to buy a duplex or multifamily up to a fourplex with the least amount of money down the lowest I got offered was (15% down to buy a duplex). Also possibly looking for a realtor that might know about multifamily in the area, I am looking for something turnkey not interested in fixing.

 I have a good lender contact that I used for duplex in Dec if your interested, I got 4.5% 30 years fixed.  Send me a message and I can pass along the information.

Originally posted by @Abhishek Singhal:

Hi I am looking for help in purchase of rental real-estate in Dallas area. Someone who can suggest right neighborhoods and houses. 

Separately (or it could be the same person) also looking for a property manager.

I am based out of CA and am looking to purchase something over next couple of months.

 I have a real estate agent contact that works solely for investors in the North Dallas Area, send me a message and I will send back her contact info.

Im starting to look into PPR Note Co, Dave Van Horn is a BPer, and seems to have a good thing going, they do a Notes Funds, and individual notes also

@Chimi Changa

There is a small area in Gunter, that is zoned Multi-family that is still building a few duplexs.  Given these are new they are turn key as you wanted, now they are not the rock bottom prices, but they will cash flow and appreciate if the market continues its trend for a while in Colin County.

Here is one for sale, Realtor.com listing, picture below is a similar house built some time ago. This area is building a few more units for investors interesting in cash flowing properties. This area is near the schools, which helps. I do not get any benefit from promoting, just sharing info with fellow investors.

There is a small area in Gunter, that is zoned Multi-family that is still building a few duplexs.

Here is one for sale, Realtor.com listing, picture below is a similar house built some time ago.  This area is building a few more units for investors interesting in cash flowing properties.  This area is near the schools, which helps.  I do not get any benefit from promoting, just sharing info with fellow investors.

Originally posted by @Ben H.:

This is a great post. I have also been looking to invest further north. What kind of holds me back is I see the properties sitting out there a bit longer. Now I don't know that area as well as Frisco or Prosper, but I would be interested to know what the primary employment drivers are in Gunter, Sherman, or Denison.

Hey Ben, I have lived in Prosper for 10 years, long before all the construction on 380, The Tollway, and Preston started.  I know the city manager of Celina who has done a good job attracting businesses.  Prosper ISD has driven the population from 3K to 18K in 9 years, crazy growth.  

With all the new jobs showing up at The Tollway and 121, growth is starting to creep North.  Also the rental rates here are getting out of hand and people are looking at Celina, and Gunter as an affordable second choice if schools are not the issue.  Savannah, Providence all along 380 I have noticed seems to alway have an inventory of rentals but are in a different school district as you might expect.

I bet on Gunter, but I'm watching it carefully.  It has a mixture of smaller older homes, and bigger homes on land, not much retail, but hugs Celina which is booming retail, and the housing growth in Celina is mostly in the Prosper ISD, Light Farms, Mustang Lakes, Creek of Legacy, no homes under 300K in those developments.  This is forcing some to look north, Preston road is now wide enough to handle traffic going into the tollway system.

I'm not an expert at all, but the Tollway seems to be really allowing growth.  When I owned a home in Prosper, I had neighbors moving in from cities south of Prosper, Frisco, Grapevine, McKinney, etc all for the schools and the idea of less traffic, and then some turned around again and moved north because of the growth in Prosper.

I have a rental in Gunter near Sherman, great town, excellent tenants. You can commute to Frisco or Sherman from Gunter. There is a duplex on the market there for $285K and will probably rent for $2600 given the others next to it did. I have noticed some flips recently also. Might be worth checking out while you look at Sherman. Pete

Originally posted by @Brian Eastman:

@Peter Schuyler

Generally speaking, the answer would be no.  Rental income is passive investment earnings, not self-employment compensation.

You could work with a CPA to create a structure where you truly generate earned income, but the cost would likely outweigh the benefits.  Why tax income at a higher rate so that you can set it aside into a tax-deferred plan?

You may wish to consider a self-directed IRA based plan.

 Thanks you for clarifying that, maybe a SDIRA is a better way to go, or just start to generate some money through a flip.  The Solo 401K benefits are hard to pass up.