All Forum Posts by: Jose Matuk

I’m also in Dallas with a LTR near Austin. The problem I’m having is that the property taxes (when it’s not your primary home) are very high. This makes it very difficult to achieve positive cash flow even with a low rate mortgage. So I’m looking into selling that house and moving that investment somewhere else.

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Adding to the thread, Pflugerville has a growth area in the northeast that is a little higher entry point, but has seen great appreciation the last few years. Now it's also benefiting from the new developments such as Amazon and Tesla pretty close to it. And like Ryan said, it's close to downtown Austin but off the beaten path, so to me it was a good selection for my first property back in '14.

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Austin, Texas

Originally posted by @Beverly Taylor:

During the set up process for RentRedi, the software automatically sends out a message to all tenants by email. As the property manager, it concerns me that the software does not allow me to select message timing and verify content of communications that are sent directly to MY tenants.

Therefore, do not input client email addresses in RentRedi until you are prepared for RentRedi to begin sending requests for action to YOUR tenants. Even though I skipped the tenant input and invitation screen, the system still sent out messages after I later entered email address in the tenant data profile.

Do other property management platforms operate in autopilot? Is this a concern for other users?

Beverly can you be more specific on what kind of messages does it send the tenants? We're selecting a SW right now for our first self managed unit (the rest are with a great PM company) and we are in the phase of researching all of them.

Thanks!

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You might want to take a look at this discussion:

https://www.biggerpockets.com/forums/52/topics/830287-credit-and-background-checks

Good luck!

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@Tal Perry.

Bump, I’d also like to know what do you all use in Texas for the screening of tenants. Thanks!

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Thanks guys, I forgot to mention that there is no prepay penalty.

Best regards!

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Hi everyone, I just want to see what you all think of these terms, compared with whatever you're getting. This is a commercial loan to an LLC of a small duplex in DFW.

Max LTV/LTC: 80%

Rate: 4.6% Fixed for Five years, then adjusting to Wall Street Journal Prime + 1.0% every five years thereafter

Origination Fee: $480 (0.50%)

Loan Term: 20 Years

Loan Amort: 20 Years

Payments: Monthly P&I

Thanks in advance!

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Looking forward for the results too.

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Originally posted by @Scott Kimberly:

From CNN about multifamily:

"The US Federal Housing Finance Agency stepped up today to protect renters in multi-family properties.

Fannie Mae and Freddie Mac will grant owners of multi-family properties who are "negatively affected by the coronavirus national emergency" forbearance of mortgage payments -- as long as they don't evict renters who are unable to pay their rent because of the coronavirus impact.

“Renters should not have to worry about being evicted from their home, and property owners should not have to worry about losing their building, due to the coronavirus," said FHFA director Mark Calabria in a statement."

I wonder what's their definition of multi-family. At the beginning of the WSJ articlue they mention "Financially strapped apartment landlords".

Does a small duplex count?

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Solved the issue, in case anyone was reading this, the problem is using the right tool. I downloaded Winrar and voila, it's all there.

Thanks.

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All Forum Posts by: Jose Matuk

Jose Matuk has started 11 posts and replied 82 times.

Post: Best Markets in 2023?

Post: First rental propery investement in Austin

Post: Any reviews of RentRedi?

Post: Background and Credit Check

Post: Background checks

Post: Terms for commercial loan, opinions wanted.

Post: Terms for commercial loan, opinions wanted.

Post: How will Coronavirus change your investing plans?

Post: Coronavirus and late or no rent payments

Post: Question about downloading audiobook (managing rental properties)