All Forum Posts by: Gunnar Teltow

Thanks for the suggestions! I found a few additional promising ones but they were focused on Houston or San Antonio.

Once you dig into the fine print, not as good a deal anymore... for example, TexasRealtyPros limits you to only one transaction per year acting as an agent on your own behalf (i.e. as an investor, which I'm planning to do). For the second and subsequent transactions, they get the full commission. Sneaky!

Also the quality of most of these sites gives me pause. "Click on this money pile to see our plans" etc. I wish there was a good, professional broker in Austin offering this but I guess I'll have to dig and network until I find someone, or maybe the Houston folks are members of the Austin board as well.

Good luck finding someone in Illinois that work for you!

Hi there, anybody have a recommendation for a sponsoring broker in Texas (or better yet in Austin)?

I'm about to put in my application for a Texas real estate salesperson license. I don't want to work as an agent, it's only meant for my own investing so no office space, training etc. needed, just want access to MLS and lock boxes. A broker with a small annual fee and a flat fee per transaction would be ideal.

Thanks for looking and for your input!

Many thanks for the advice Jeff. I think you're right. We will look into buying a duplex or two in South Austin instead. That seems to be the more sensible thing to do.

My neighbor who lives in Japan wants to sell his house to me, which is right next to mine in Circle C in Austin. We got an appraisal for $350,000, which I know is realistic. After splitting the broker commission savings I could get it for perhaps $335,000.

It's currently rented for $2,400/mo and the rental market is strong, and so is the appreciation potential in Austin. We can finance 75% (~$250,000) at a good rate.

My concern here is that we would have to come up with $80,000 or so in cash or from another lender. My wife and I would like to buy a handful of properties over time as cash flow investments for when we retire. Should we focus more on lower priced duplexes and such, or buy this one with higher appreciation potential but knowing that we would likely have to come out of pocket for taxes and repairs?

The rent will cover debt service if the property was 100% financed but nothing more. Family income is good so we can afford to support a negative cash flow property but I don't know if it's ever a good idea to buy a house just for appreciation.

Sorry first time poster and brand new member so no picture/track record on BP yet but I would really, really appreciate any and all thoughts on this situation. Thank you!!