All Forum Posts by: Joe Funari

@Shivam Patel Starting out I recommend long term SFR rentals. Specifically 3 bedroom, 2 bath, 2 car garage (3/2/2). Reason is its the common build in the US. This is important when running sold and rent comps. You will have better data to make the decisions. MFH isn't impossible. But takes more time to acquire. I have been very successful in helping other investors buy both. Just need a little more patience in getting a MFH. Hope this helps you in your search.

@John Squares I would recommend you reach out to a BP approved realtor that works in the Houston area. They will not only provide all the data that Connected Investors charges you for free. But they will give you even more valuable advise where to actually invest in the Houston area based on their years of experience. Save your money to purchase more real estate. Fellow investor/realtors are very helpful to you and your REI strategy. Hope this helps.

@Kashta Andrade Booker I recommend moving forward that the specific city or area you plan to invest in out-of-state. Once we know that you can ask for recommendations for investor friendly lenders in that state or area. For example, I help out-of-state investors buy and sell in the Dallas/F.t Worth area and my preferred lender is a fellow investor. He can help you navigate the difference between a Fannie/Freddie conforming conventional loan vs. a DSCR loan. No need to do a loan proposal for a bank. Hope this helps.

@Kristi K. My experience most landlord policy premiums here in Texas have gone up as much as 40% in the past year. The reason is several carriers have pulled out of Texas with regards to landlord policies. But this has been going on for years where some pull out and others enter the market. I personally haven't heard of Steadily. But my personal experience is the newer companies tend to be the ones that pull out of Texas within a few years if not sooner. Thus, your back to square one with looking for a new carrier. I insure my rentals with a commercial broker, Mark Roland with Four Square Insurance , that shops many carriers and tracks trends, etc. I would recommend you reach out to him directly @Mark Roland to get a quote. He can insure rentals in Texas and Oklahoma. Hope this helps you in your REI journey.

 @Jessie Cervantes That is great. I suggest you reach out to my preferred lender, and fellow investor, @Andrew Postell. He can definitely have a conversation with you and explain the different loan options available to us investors. He can also help you with any investment property in Texas. So worth reaching out to him. Good luck in your REI journey. Andrew has helped me personally and many of my clients over the years. He has forgotten more about creative financing than I will ever remember. Great resource to have on your team.

@Colin Sexton I agree with the other posts. I own rentals here in the Dallas/Ft. Worth area. I have never had squatter issue here. Because Texas is a landlord friendly state and I have processes in place to ensure I get quality tenants that pay their rents. So consider the Dallas/Ft. Worth area to invest. There is some risk. But the rewards for REI far outweigh the risks. Hope this helps you in your REI journey.

@Jessie Cervantes DSCR loans require 25% down payment and are higher interest rate than a conventional 30 year note. DSCR loans also require the expected rents to be at least a dollar over the anticipated PITI. I would suggest you talk to a investor friendly lender in your area to go over all the investor financing options. Also, I recommend that when you post in the future let us know what city and state you are looking to invest in. That way you get direct feedback from fellow investors that work in that area. Hope this helps.

@Jim G. I've been using McCaw PM for many years, as well as, many of my clients. They service all of the DFW area including North Dallas, Frisco/McKinney area. @Kyle Mccaw is the owner and a fellow investor. Has an actual team to manage your rentals. Not a mom and pop or out-of-state corporate franchise set up. Their web site is https://mccawpropertymanagement.com/ Hope this helps. But have been very happy with their maintenance and make ready too. 

@Ashni Modi I work in the Dallas/Ft. Worth area helping out-of-state investors for many years buying and selling investment properties. Majority of my clients are from California. Another point to consider the Dallas/Ft. Worth area is a very strong job market. In the past 20 years there has not been a decrease in rents. Also, look at the stats on relocation. U-Haul published an article that the third year in a row that the #1 destination for one way moves is Texas. Because low cost of living and great salaries https://www.uhaul.com/Articles/About/U-Haul-Announces-Top-Gr... These are what makes for a great rental market. Plus, landlord laws are more favorable to us investors that most other states. You can purchase today a 3 bed, 2 bath, 2 car garage SFR for less than $300K here. So consider the Dallas/Ft. Worth area.

@Sasha Josephs If your looking to set up a REI LLC in Texas reach out to Copp Law. https://www.copplaw.com/ I have personally used them to set up REI LLC's with partners here in Texas. They are great to work with. If your looking to partner with GC's and find flips in the Dallas/Ft. Worth area I will be happy to help. I am a fellow investor and realtor. My contacts in REI become my clients contacts. Glad to help.