All Forum Posts by: Josh Miller

Hello,

So I am seeking some advice on my employment status. I have recently entered the real estate game after watching on the side lines for many years. My wife and I own now 3 properties and so far it’s been great. About 7 months ago I accepted a position with a company that offers me a 1099. I have tried to refinance and pull my money out of the properties to buy more but unable to qualify for a refi since I don’t have a long enough time as a 1099 employee.

I am thinking of requesting my employer to offer me a W2 which I am certain he will if I requested. My question is should I request to be a W2 employer and easily be able to get financing or remain a 1099 with great tax benefits and struggle with traditional financing and ultimately slowing my real estate growth.

I appreciate the feedback and look forward to the responses.

@Amber Cole, I am interested. Please let me know more about your company.

@Denise Johnson Are you still trying to sell your SFH in 77014?

@Craig Bell Thanks for reaching out, I think it would be a benefit to meet up and discuss the market and strategies. Two minds in the beginning stages are still better than one, message me and well meet up for coffee. 

HI BP community, I am looking to become a serious investor in the Houston market. I have been getting educated by listening to podcasts, reading books, digging into the forums, all the fun stuff. I have been inspired by my in-laws to get involved in real estate as they are successful and had the opportunity to retire earlier than most. I realize why wouldn't I try and follow them. 

I am looking to get my realtors license, start a property management company (I do realize I need to become a broker to achieve this) and get out of the "Rat Race" in the future. The plan to achieve this is to use the BRRRR strategy, network, and surround myself with as many investors who have followed there path to financial freedom.

At this point in my career I understand I do not bring much to the table as far as experience but I listen and learn very well. If anyone in the Houston market is looking to give back and whats to work with someone who is driven, ambitious, and not afraid to get involved please reach out to me. I would love the chance to work and learn from some of the best in the area.

For the Houston area REI, which area of Houston do you think will be a better area to invest in. The third ward and Near north side by the heights both seem to be the areas of the future. Which areas do you think would be a better investment?

Thank you all for your feedback. This property is actually in Little Havana not Allapatah. this is south of the river about 2 blocks from Miami baseball stadium. 

My estimated cap rate is so low due to to extremely low rents. Does anyone have a average cap rate for this market?

@Account Closed All 6 units are 1 bedroom and rented at various rates ranging from 550 to 900. Rates are varied due to emotional attachments (discounted rates) At first we agreed to raise the rents to market value, what seems to be around 1000 to 1200 for the area. My siblings are emotionally attached to this building and feel bad to raise the rents. I expressed to them that this is a business and we can make much more income. Unfortunately, they want to keep it as is and not sell. I have expressed to buy them out but they are not interested. My concern is they will buy me out at the current value which is undervalued, they have no desire to learn about real estate and don't want to look at this property as a business.

Hi BP members,

I am new to the forums and looking to learn a lot through this valuable site. I am very passionate about real estate and want to gain as much knowledge as possible. I have been listening to many podcasts and reading books over the past several months.

I was recently given one third of a six plex building in Miami, FL 33125 along with my other two siblings. The rents are under market value and the current tenants have been living there for many years. There has been many communication problems in the few months we have had ownership of the building such as if we should raise rents, get a property manager, if we should sell, etc. The problem is that I look at this as a great way to start my real estate investment business while they are looking at the income as just some additional income. My questions for the BP members is what would your advise be if you were in my situation?

I believe the property has great potential but it is just under market rents and with my siblings not seeing this potential and are not willing to get more educated in real estate Im not sure if I should have them buy me out.

The numbers of the building are:

(No Mortgage)

Value:$800,000

Rent: $4150

Cash Flow: $2217

Rent/Value Ratio: .5%

Cap Rate: 3.3%

Hi BP members,

I am new to the forums and looking to learn a lot through this valuable site. I am very passionate about real estate and want to gain as much knowledge as possible. I have been listening to many podcasts and reading books over the past several months. 

I was recently given one third of a six plex building in Miami, FL 33125 along with my other two siblings. The rents are under market value and the current tenants have been living there for many years. There has been many communication problems in the few months we have had ownership of the building such as if we should raise rents, get a property manager, if we should sell, etc. The problem is that I look at this as a great way to start my real estate investment business while they are looking at the income as just some additional income. My questions for the BP members is what would your advise be if you were in my situation?

I believe the property has great potential but it is just under market rents and with my siblings not seeing this potential and are not willing to get more educated in real estate Im not sure if I should have them buy me out.

The numbers of the building are:

(No Mortgage)

Value:$800,000

Rent: $4150

Cash Flow: $2217

Rent/Value Ratio: .5%

Cap Rate: 3.3%