All Forum Posts by: Joseph Ryan

@Leonardo Ibarra https://www.biggerpockets.com/...

@Leonardo Ibarra Welcome to Bigger Pockets! You should come to our bigger pockets (bp) meetup this upcoming Tuesday, March 30 at 7 pm at Brewsome Brewery in McAllen, tx. You can also search bp for the RGV Investor meetup for the actual page and additional info.

@Gianni M. yes, be my guest. 

MLS last October. 4 plex in Pharr, Tx (first ever real estate investment). Purchase 270k but really 267.5k (after seller concessions) with a mortgage. Total rents were $2925 monthly initially. With some much-needed maintenance and a new tenant, my rents are up to $3020/mo total. I'm still not quite to market rent either but I like the tenants and will slowly keep upping the rents every year or so to get the rents where I need them to be. The tenants are fine with the rent increases since they see how much better the property looks and is managed. This should also lead to longer tenancy. Feel free to message me if you have any questions. Thanks

Hello, @Jesse Flores is this your first deal? If so congratulations! Have you heard of the 1% rule here on bigger pockets? It basically says that if rents are $1,500 then your purchase price shouldn't be more than $150,000 so you can be more profitable. It doesn't work everywhere but here in the valley, it worked for me in Pharr, Texas. Best of luck!

@Soumya Brijesh I have a 4 plex in Pharr near McAllen and I 100% agree with Jake F about the filters, bulb, and pest control. 

@Rohit Dhing I’m local. Trevino appliance is great. Used but great prices and comes with warranty. 

@Hector Briz I agree with @David Slovak. I recently bought a plex in the McAllen/ Pharr area and had to put 25% down to buy it as an investment property. I shopped a coupled of big banks and some mortgage companies. What I was told, a couple of months ago, was that I needed 25% down for investment property or 20% down for conventional. Ask around and see what you find out. Good luck.

@Arta Montero @Mark Lewis I'm from and McAllen and recently purchased my first 4 plex 1.5 months ago in Pharr, Tx. Yes, the numbers are tight but are ok for me since I am self-managing and know the area really well. I got mine around the 1.08% rule but I was analyzing every quad that came on the market for months and was putting in offers. There are lots of big apartment complexes being built down here in the McAllen, Pharr, and Edinburg area of South Texas. 

I plan to keep my healthcare job b/c I love what I do. REI is another way to build wealth and diversify my portfolio ;)

I've heard great things about Accel property management. Ann is very personable.