All Forum Posts by: Account Closed

I chose TX (Specifically Austin) 10 years ago based on the economy and jobs. My main indicator I look for is jobs, job growth and tax/regulatory environment. I stay away from more liberal states with high regulation and business tax. Its true we have high property tax rates in TX but there is no state income tax. The higher property tax also helps soften any huge up or down swings in price. Even with the 2-3% property tax rate you can cash-flow 15-30% and see nice equity appreciation. Austin has a 3.8% unemployment rate and has been on fire the last year so ROI is decreasing a bit so I'm now buying in San Antonino.

I'm excited to start looking at all the other great responses/markets in these posts as well!

Hope that helps and good luck with your investing!

@Nat Chan Sorry you did not like my advice.  You need local expertise as subtle nuances in city/county eviction process can get you in trouble.  If a non-client called my company for advice I would certainly answer any questions they had and pay it forward. I'm sure there is a local PM or owner on BP in the area where your property is located that can help you out if they choose to. 

Remember this is a people business. Good luck with your investing.

Yes, call around. I recently purchased two 4plexes 15 year fixed conventional at 4% and have 2 re-fi's locked at 4% as well today.  30 year were quoted at 5% and that's conventional with more than 4 multi-family financed properties.

@Helen Chau Great questions and great job getting ready for apartment investing!  I'm in  the same position studying for apartment investing.  I have some friends that have apartments and they gave me 2 bits do advice and lessons learned that may help.

1. Never trust the pro-formas and ask for documentation to verify all data provided.

2. They recommended looking for apartments with below market rents and deferred maintenance as you can really increase the value of your assets.

If you do it right by increasing operating income and decreasing expenses you can build true wealth.  You can also possibly refinance out money based on the new value and find another apartment to invest in :). Good luck!

First you needs to determine your investment philosophy. Then I would buy based on what meets your goals when you move out. That's a great area for college rentals although prices have really increases and ROI has decreased over the last year. My investment philosophy is high cash flow in growing market so I would choose the duplex up to a fourplex although you should see some nice equity gains in a SFH over the next few years. Good luck!

Hi @Joshua Dorkin I have been banned as well when adding colleagues. Can you please reactivate messaging?  Great work on the new site BTW love it and keep up the great work sir!

@J. Martin you are a better man than me :) your fourplex looks very nice...what's your cash on cash return?  I'm sure you will see some nice equity gains over the coming years as well. I have rentals in southern CA as well but given all the other great markets out there I can't ever seeing myself investing in CA with the pro tenant regulations, employment outlook and high taxes compared to TX.  Just don't want to play with rent control if I don't have to.  Good look sir and see you around. 

you need to speak with local PM in the county your property is located as process differs in each city. It's really easy in TX where I'm located...send a 3 day pay or quit then file eviction with local justice of peace precinct. Good luck

Sell and do not buy any rentals in high regulated rent controlled cities in CA :) 

PM companies are notorious for nickel and diming clients.  That along with poor quality repairs on my rentals led me to start my own management company. We offer free 200+ point written inspections for our clients. My property manager would do that for our clients in a instant. Customer service is the name of the game. At a minimum they could just drive by and snap a few pictures for free. The $150 report may be a bit more detailed than what your mom can do but your mom should be able to get a quick idea of property condition if she can see the inside.