All Forum Posts by: Justin Robert

@Gwen Cunningham@Rudolph Shepard Jr I ended up selling the property as I did not feel like taking over all of the work to convert and manage a park. It cleaned up great! Thank You. 

I researched and cost didn't make sense unless you had a certain number of loans. August REI out of the Dallas area is $35 per loan per month and includes portal for you and buyer, tax forms for you and buyer, collections ( if needed), etc...

Bell County ( Temple, Belton, Killeen) is hiking up property values. My personal residence almost doubled in terms of value with the county from 2018 - 2019. And it is still showing half of what the place appraised for so 2 months ago. That leads me to believe they will continue to do so. As those values rise I don't see how the cash flow model is very appealing, but then again, I don't have any rentals so I am certainly no SME. Also the neighborhood I rent in (we just sold the primary residence) has homes selling for $190-$210K and renting for $1600-$1800. I don't see the cash flow making sense without 20% equity or greater. If you need a realtor reference I can put you in touch with an investor friendly realtor that is local to Belton and knows the market.

@Forrest Dabb What did the multiple CPAs suggest? It is a simple scenario from the sounds of it and any legit CPA should be able to tackle that pretty simply. I could be wrong but they may just not want to basically tell you how to do it for free.

I sent them a servicing packet last week (Wednesday) and they still haven't responded to email or voicemail. The first loan I sent them a couple of months ago they responded and setup the account in an hour.

Does anyone have a better relationship with anyone there and could perhaps divulge some better contact information? Or is this type of delay common?

@Jj Horst If you had potentially $290K in Equity between 4 doors, that should mean you have some decent cash flow, right? You *should* be well above 1%? I am in Temple and I know Austin really is a different market but that seems off. I am not questioning you, rather am generally curious.

@Felix Campos Just a different perspective. You should do what makes sense most for you. Best of luck!

What type of return does the private investor want?

@Felix Campos Welcome and best of luck to you. How much do you have ready for your first deal? Do you really need to leave what I am assuming is a good paying Engineering job when you can begin investing in RE part time? Just my two cents. Why not keep the job and sock away 90% of that income to scale into some properties faster?

@Pete Broom Consult a good RE Attorney. Did you use one to create the LLC?