All Forum Posts by: Ivette Bravo

Wow, thank you @Jacob V., this is actually very helpful. Seems like it's time to get creative and not just count on the numbers to make it work!

How are you finding properties in your area? 

Hi all, I am an agent and investor in Dallas, looking for my first house hack (who isn't right? haha). I see people buying left and right - however when I "work out the numbers" considering income (rents) minus - mortgage, taxes, insurance, vacancy (5%), maintenance (5%), cap x (5%), and sometimes PMI the properties just do not cash flow and sometimes lose money every month.

I am not being over-conservative, I am not even considering management fees in my analysis, but I see so MANY people buying. Are they just taking the hit and losing money to just get in the real estate space? Do you think most people don't analyze correctly? What are your thoughts? 

Thank you, everyone!

@Joe Funari Hi Joe! This is exactly what I was looking for. I could only find 3bed/2bath rental comps, so I needed a way to figure out how much to deduct for the bedroom. How much people are willing to pay for that extra bedroom.

Thanks for the help!

Hi everyone, I am a realtor in DFW. I am looking to buy a 2bed/2bath rental property in a high-demand area (which I think will do great). My question is, how well does a 2 bed/2 bath do compared to a 3bed/2bath. I know most people prefer a 3bed/2bath. Does anyone have any numbers on how much more income out get when you compare the two properties? What are some things I should consider? 

This is my first rental, so maybe I am overthinking it, but I am ready to pull the plug and get started! 
Thank you Bigger Pockets family! 

Ivette

Hi Lisa, I'm an agent in DFW that also invests and helps investors find properties. New construction definitely works if the numbers make sense (like everyone else is saying). Also, just commenting on some of the feedback, an experienced agent will most likely not work with you unless they get the buyer's rep signed, so you might have to end up working with a newbie! That being said, we always encourage newbies to get that buyers rep signed. No one likes to work for free and shouldn't. That being said a buyers representation agreement can be canceled at any time. It's just there to protect the agent IF you buy a property that they showed you - which is more than fair if they put the time and effort to find you the deal. Hope this helps!  

I'm a newer agent, but what I do has worked very well and my clients haven't had any concerns. 

I've built great relationships with home inspectors. In our area - our inspectors like to inspect on their own (so that they can get the job done and not have to stop every second because of an overly concerned buyer). 

We then meet the inspector for an hour (towards the end of the inspection) and he walks through the inspection in detail and goes over the areas that were of concern with my clients and I. We ask all the questions we need to ask and are always left with a great understanding of what will be in the report. 

I set the expectation with my client at the buyers consultation and so far I've never had a problem. 

In my area inspections can last 4 hours - which is why we do it this way. How long are your locations inspections? 

@Michael Lee thank you Michael. That’s a good point. There’s several ways to get a deal. Have to be creative. Thanks for the insight :)

How are people able to buy apartment complexes (5+ units) while “the numbers” making NO sense IN THIS MARET. Everything we underwrite looks terrible - (2% cash on cash AT BEST). Granted where conservative with our numbers - but doesn’t it make sense to be conservative? - Let’s discuss! :)