All Forum Posts by: Garrett Brown

I would agree that the 0% vacant (even 5% is more realistic) and low cap ex/maintenance should be raised some to at least have a better worst case scenario approach. C Class always takes more beating no matter how long people hav been there. If you can get away with a Lower downpayment and have plans to find more deals with those funds then do it. I always try to put as little down as possible especially if I know I can get a better return compared the small % I may pay more on price of the property. Is there any chance to add laundry room on site? Could help add another revenue if it makes sense

Texas is always a great state to invest in for different reasons. I would look into San Antonio and Waco are areas on the rise but still with good value of properties. Depends on your end goal as well to decide where and what formula

I don't think diversifying into MF is a bad idea. It would give you some diversity in portfolio but alot of comes down to your end goals/the deal. If you like growing within one segment and specializing then finding a MF that can also be used to STR would be ideal. If the numbers work as an LTR then you can always fall back to that if the STR becomes too much. Finding that type of deal in my area of Texas is tough but might be more available in that area.

 So I do this exact model but with geo domes right now. Not exact same but close

It has been great. I purchased near a place that has been doing vacation rentals for year (Lake Livingston, TX) so restrictions are easy in the county I picked. One county was better than the other with regulations so look into it and talk to other investors/contractors there.

Cash flows well but is alot of work. More than people realize. You have to take care of a lot of land requirements, deal with less than stellar contractors compared to a major city (just my experience),  and more. Hopefully finding a place with utilities already on is an option for you. Is always difficult doing this more than expected. 

My geo domes don't appreciate well b/c it is a soft shell. I plan on trying to sell the business as a whole eventually or figure out my next step after making the cash flow for years. I also have a major SFR on here that will help alot with my equity. It can be worked on more to bring up to top of market value.

Tiny Home has to be certain sq ft to qualify as a residence in most places so look into county guidelines. Avoid HOA's if you can bc they are a nightmare most of the time.

You can get financing to start by buying a place with a house on it and land to get a loan. Otherwise buying land and building tiny homes is very hard to get any reasonable financing on. You would need to look into a heloc or something else.

No issues when I want to subdivide as the county is extremely easy to deal with. I got all this info just talking to them and locals that have done it.

Good luck! Hope this helps some

Great advice above dealing with qualifying income. The new construction is probably the better route but my main question is who told you the area is rising and has a better ROI? You said you had been told but not by who. Was it a trusted realtor? A season investor you know? Joe from the grocery store? If it is someone you know has this knowledge, then I would dive a little more into how they know so you can learn more/run some numbers yourself. If it is someone that you aren't sure, then run numbers a few times. The deal also matters alot b/c an old MF could bring in more if the numbers work better. New construction should be less headache overall for you though.

Yes, this would be best the way to find out what rentals are going for is a CMA approach. Find a realtor in the area to helpor just use your own research. Mark what places are going for similar to yours and note the differences. If you don't have access to what each one rented for once they go, just take note how quickly properties go and what price they were last listed for rent at/what features they had.

You have came to one of the best resources around, BP. Browse the books here and listen to the podcast if possible. There are so many routes you can take within real estate investing that it all depends on your end goals and specific situation. Stay active here and dedicate time to learning something new each day if you have the means too. Don't buy any expensive course or anything right now. Just find as much free info as you can to start! Good luck

Welcome! I'm an agent in Houston so feel free to connect at anytime. Keep pushing!

I think Rob's channel is awesome. If you have money around to do that while also getting to invest in STR's then by all means go ahead. I haven't took it but can imagine it's very good. I 100% think you can find almost all these answers for free though through different channels online, BP Forums, studying others, and just trial by fire. AIRBNB Automated channel is pretty cool too. Good luck either way!

I have a really CPA near Dallas if you need one. I am doing something very similar right now and she is walking me through all steps needed. PM if so!