All Forum Posts by: Jim Robertson

I have a 3 person partnership set up as a series LLC in Texas, and I can send you our agreement if you DM me.

I am looking into utilizing a property as an airbnb or short term rental. When furnishing the property, is it worth paying extra for a sleeper sofa or pullout couch? The home already has 3 bedrooms with 2 queens and a full bed. What have you found to be the ROI on a twin sleeper sofa?

I would be very cautious of negative cashflow. Run the numbers on the property as if you were buying it as an investment. Once you move on to the next property, it will be an investment. 

There are plenty of arguments against buying a home, and Austin can be a tough place to house hack. The multifamily supply is pretty low. Most of the small multi family being built now is sold as individual condos. You may want to consider renting where you want to live, and buying where the best return is. If square footage isn't a concern look for something cheap and walkable so you can invest your money where the numbers work. 

@Dan Burstain What type of investment strategy do you use when purchasing a new home? Are you holding longterm, or are you finding a value add that the original builder may have overlooked?

@Jonathan West Legal Zoom is great if you want a simple LLC established or deed transfer. If you are setting up something more complex or you want the extra security of speaking with an attorney I have worked with Joe Leak at https://brltexaslaw.com/ to set up my business and review partnership contracts. I highly recommend them for any business structure or asset protection that you would like to do.

@Eddie Lehwald If you are going for cashflow I would look at San Antonio, Kileen, or Round Rock/ Pflugerville. Those markets are also at selling properties at lower price point. So it would be easier to spread your money around to several places. 

@Pauline Hanuise I am visiting Valencia in September to look at properties there. I have the same idea to buy an apartment and lease it as a short term rental. Is there anyone you recommend working with in Valencia? Realtors or Property Managers? 

I am happy with Amanda Desmoreaux at RPM Alamo. Very responsive and thorough.

http://www.rpmalamo.com/

I have only been working with her about 9 months, but anything that pops up gets taken care of quickly.  

I am interested in attending.  Prefer Thursday, but open to anytime. 

@Brendon K. I started small multifamily investing in Austin and have switched to investing in San Antonio because of the price point. As for which market is better would depend on strategy and capital. I am looking for older properties that need some updates, and will cashflow fairly well. Right now San Antonio is better for me.