All Forum Posts by: James Freeman

Thanks Beau, #1 is a set of questions not an option, are you saying 70% wont work for flips in our area? I see that 2% wont work for rents.

1. The guide says shoot for 2% of purchase price for rents, assuming that wont fly in Austin ? Also says for flips use the 70% rule and ive been presented a few deals now that are not close to the 70% ARV after purchase price and repair estimates. Are these both still valid ?

2. Is it a viable way to start by buying a new primary residence and renting out my current house ? house hacking may not work for us due to need for at least 4 bedrooms.  

We live in Round Rock. Assuming its best to do out of Austin proper due to prices and do flips to build up reserves to buy and hold eventually?

Nothing to manage yet but id love to start building out my team as the ultimate beginners guide says!  @Lexi Teifke

We own our home  with 150K + equity and have decent credit (over 700) - Thanks for your reply Beau!

Interested in the Austin Market, not sure where to start. We own our home and would like to start looking at either flips or buy and hold but it seems like buy and hold mostly would be a cash negative situation in our area  - is that correct? Any guidance on our market specifically or how to better educate ourselves on this new journey ?