All Forum Posts by: Kameron Yellin

@Chris Sabanos I would go to the closest hardware store and talk to the people that run it. They will more then likely be able to point you in the right direction of vendors, general contractors, subs etc.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in College Station.

Purchase price: $167,000
Cash invested: $20,000

Duplex Househack completed!

Purchase:
VA Loan

Purchase Price:
$167,000
Rent Roll
$1,250

Renovations: Updated floors from carpet to LVP, prime and paint, painted cabinets white, updated fixtures and appliances
$20,000

Appraisal at refinance
$300,000
Rent Roll
$2000

Cash flow: $500 per month

@Jack Amheiser

Fee increase yes and they have been sold to (my research with FSBO sellers) normal people sold on the investment opportunity and they are trying to get their money back/ not lose after purchasing the place to save on their kids college housing that they purchased 4ish years ago.

@Gregory Schwartz

Yeah buddy!!!

@Jack Amheiser

It all depends. Maintenance can be over estimated and I personally suggest it, seeing as the majority of CapEx should be covered by dues. In my experience here is CS you will be hard pressed to find a condo that will cash flow. Furthermore I don't like condos for the simple fact that I have limited control on dues, increases etc. BP has a good calculator. When doing a quick calculation on a property I use Income x .75 - debt service. This should give you plenty of maintenance money and give you a good starting point. As always do your own numbers and make sure you have a good real estate agent that specializes in investments either by trade or with personal experience. Reach out if you have any questions.

@David Schmiediche if only it was one day earlier. I’ll be working.

@Gregory Schwartz when?

Any other househackers in College Station, TX? Would love to connect!

@Joseph Crayton yessir

I purchased two duplexes last year, next door to each other. I VA loaned my first one and seller financed the other. Now almost a year later I am ready to move again because my owner occupied loan requirement is complete. My plan is to move into the other duplex so I can qualify for owner occupied loans.

The seller financed note is 10% down, 8.5% interest, 5 year ballon over 20 or 30 years. Appraised about 4k over purchased price. I have already renovated.

Current loans I am considering:

VA-(sounds like this probably wont work since I'm keeping the other VA'd)

FHA

10/10/80

I have spoke with some lenders and they haven't been very great. Any ideas?