All Forum Posts by: Hernan Dobal

@Lyall Storandt I’m in the Houston area. Would you please send me the CPA info also? 

Thank you 

In my opinion, I would solely concentrate in medical school as this career path will be a solid foundation for big capital buildup in the future.

Even if it takes you 7-10 yrs to complete you will be making serious cash (depending on which concentration) then you can start investing that money for greater return to achieve your wealth or financial freedom. 

Corey, I would keep the property long term as you can learn the ropes of landlording as others have mentioned. With this being said if your current note is $1015 and you could rent it for $1450 fairly easy you could cash flow around $350-400. 

Although it's important to put aside capex for repairs/vacancy/prop. Management, if the property is in good shape I wouldn't be concern about this, however It's important that you due diligence when selecting your tenant though and have future tenants in the pipeline. From here let the tenant pay down your debt and collect this cash flow into another account until you achieve 70% LTV or less then you can save up for a bigger down for another property.

Scott, congratulations on your promotion and the move to Houston!

You Definetly want to look in the katy area or even areas located between the beltway and 290. You can find houses there within your price range given the current economy in houston but just make sure that whichever location you decide on that the numbers make since for rental purpose. Property tax will dictate that as well as school districts. Also as other have stated, traffic is getting ridiculous in houston and I think it's probably the worst in the nation so I recommend that you look for a property as close to your job as possible.

Hope this helps! 

thanks guys! I will be there as well.

Hi Jordan! I'm closing on a property in copper field area myself here in the next week. I'm glad that it's a strong performer and looking forward to see some cash flow if all goes. I would be more than glad to link up as well and brainstorm ideas!

Welcome to BP Reginald!

Like others have stated, this strategy is usually a great way to get started and it's how I'm currently doing it as well. A few things that comes to my mind.

• location - I'm a believer that if you want quality tenants, location should be priority I.e (good school districts, low crime, middle to high income families, access to shopping centers and freeways, etc..)

• Quality - To start off make sure to buy a property that is not going to require major repairs. Anything with major structural damage like foundation, roof, drainage issues cost a lot of money and you don't want to get caught up in that situation unless you're getting a heck of a deal and have contractors and pricing lined up for that type of work. If it's an older house be sure that these updates are recent.

Also run your numbers and plug your expenses such as vacancy, maintenance and repairs, property taxes and such. Run rent comps for the sq/ft of the property you're trying to obtain. Hope this helps!

Jscott, congratulations on all the success you guys have! It's truly an inspiration and helps a new investor like me with lots of planning ideas. Great job!

Congratulations on your new investment property! Good luck and keep track of your monthly expenses on a spreadsheet.  

I'm interested in attending. Thanks!