All Forum Posts by: Gabriel Moreno

@Daniel Meador sure!

So I was reading up on some of the refinancing and they have some “usda only” refinancing options that I do not understand deeply enough to speak on, but I know the cash out refinancing offered on other loans is helpful when planning on adding value to the property. The usda loan does not offer the cash out refi option which I’m not sure if it would affect my situation or exit plan. That’s part of why I made this thread.

I plan on aggressively investing in my house flipping endeavors these next couple of years and if I see that I’m able to set up proper systems and sustain that before leaving in hopes of replacing my current income. That would be what I meant by “pop off”

Hi everyone!

I recently moved to San Antonio and am working full time. I currently rent and my lease is up around July.

I want to buy a house using a USDA loan while I live here, but am worried about some of my exit plans due to some of the refinancing restrictions it has. I plan on moving to Houston after 1 or 2 years of working, depending on if my real estate investing pops off enough; During this time I will be starting my house flipping journey.

Would it make sense for me to buy a house and do a live in flip in such a short time frame? I also do not plan on holding and renting this house after I move, since it’d be only 1 property in the area after I move. I’d really like for all my rental properties to be near me.

Any advice or see something that’d make it a bad transaction?

I’m not unfamiliar with construction, as my full time job is being a field engineer for a civil construction firm (different focus, same industry). The problem isn’t necessarily not knowing how the build goes (although permitting is something I’m not the most familiar with in residential), but managing it well, or being prepared for last minute problems that need my attention asap, since most of my focus is at work during the day.

I appreciate everyone’s input, I’ll definitely think more in depth about this decision. If anyone else wants to chip in that’d be greatly appreciated!

Hey everybody,

I’m sure this has been answered somewhere but none typically fully answer my questions;

Should I hire a GC for my future flips?

A bit of background on myself, I’m 23 and am new to real estate investing. I have my llc set up and I’m ready to go, but, I work a full time job from 7-5 Mon-Fri on average. It’s a job I don’t plan on leaving yet which causes some problems. I do not want to put off investing either.

In that situation would you deem it more necessary to use a GC to handle it, as I won’t be able to manage it myself with such a close eye (at least for the time being) ?

What would be some advice you could offer with investing part time? Is it doable?

Thanks in advance

@Will Fraser

Thanks Will, appreciate the input!

Hello, all!

I recently was forced to move out of a unit due to the owner wanting to reclaim that particular unit to “upgrade” it.

Anyways, after all that I was still charged a couple of cleaning fees for the carpet/furniture in the bedroom which totaled to $80.

I wanted to know if that is acceptable to do considering there are no damages apart from (minimal) normal wear and tear.

On the lease agreement it states that normal wear and tear will not be charged to tenants, but it is rather vague because it also says cleaning fees may be charged if it’s not cleaned, which I made sure I did.

I called the the office and they informed me that it was a standard charge the property manager started implementing and that I shouldn’t bother cleaning when I move out because I will be charged regardless.

Anyways what are your thoughts?

@Shuang Wang

Yes, I was going to be paying rent. I didn’t consider the rising prices throughout my saving period. I’ll look into house hacking and see if I can find a good deal there.

Thanks!

@Jeremy VanDelinder

Thanks for the response, Jeremy! My initial strategy would be to acquire some good cash flowing multi family properties, with the intention of using that to help build the DP for another one closer to RR, Austin, or Houston (since that is where I ultimately will settle down). After I get the first one outside of the Killeen market, I’d build in that new market.

I have seen a lot of advice against investing for appreciation and to focus more on cash flow, but I do see the opportunity to kill two birds with one stone when investing closer to Austin. I do not see myself investing in the Killeen market for more than 5 to 6 years. I see it more as a way to speed up my process to save up money for a good quality property, so I don’t think it will affect my middle and end game very much.

Thanks for the advice! I’ll be analyzing the RR market more in depth and working on how to spot these deals.

Hello everyone,

I’m 22 and going to be living in Round Rock, TX after graduation from university in May 2020. I wanted to get into RE and am educating myself until then so I can get a running head start.

This question has been asked a couple of years ago, but I figured it could be outdated and someone else might find it useful as well.

Is the RE market in Killeen a good thing to get into? Is the market growing? The cost of entry in Austin is too much and I wanted to get started there and possibly transition to Austin a couple of years down the road.

Does crime associated with the area cause a concern for anyone when dealing with tenants? What are some tactics you all use when screening? Are there any areas I should stay away from?

Finally, I’ve seen people speak about the potential deployment associated with Fort Hood. How does one go about preparing for a situation that minimizes the damage.