All Forum Posts by: Kasey Villareal

@Tim Jones 

@Julio De Leon

I am not - I have young kids so I never liked to be out much at night. How was it? 

@Tim Jones

Hi Tim, 

Such a small world - I live right up the street from Ponderosa subdivision - Did you go to high school in McAllen/Sharyland? I did not but have come to meet alot of people who have so we may know people in common. In fact, there's 2 local guys here that I'm helping with 4 fourplexes right by Memorial high school. Just in case you or someone you know is looking for an investment. Multifamily is really moving right now here. It's the fastest selling segment of real estate for the past 3 months - that and foreclosures/short sales. Anyhow, great to connect!

@Julio De Leon

hi Julio!

I live in McAllen as well - I'm an agent and fellow 4plex investor. I think your numbers look pretty good - especially factoring in that 10% vacancy rate as well as 10% reserve. I think $750/month in rent is reasonable for new construction in our area -  where is the 4plex located?  McAllen, Mission, Pharr, etc? Are you buying through the builder?  I'm excited for you - I agree with Tim that house hacking is a great way to get started! Looking forward to your reply. 

Hi @Michael Floyd & @David Slovak

I'm also in McAllen - I have a 4 plex in Edinburg and looking to acquire something else soon. I'm also an agent so I have access to the MLS - if you ever have any questions about pricing and rents, just message me! Take care,

Kasey 

@David Slovak 

@Spencer Hansen

hi Guys!

I also live in Mcallen - and am an investor and a re agent and I used to teach elementary school! I also started by reading Rich Dad Poor Dad books which led to reading lots of other great books and of course reading Bigger Pockets. 

Part of what I think you really need to do in order to get started is make sure you have your down payment. Since you're talking about owner occupying- which is awesome! - you should be able to get in with 3-4% down and count on another 2% +/- of the sales price for closing costs. If you don't owner occupy you'll need to put between 20 - 25% down. 

I would say you can get a duplex here in the area for around $100 - $120 or a 4plex for $225,000 - up to $325,000 (for newer construction). Maybe a short sale or foreclosure could come up. I found mine in a short sale and bought for $190 about 2 years ago- Multifamily is probably the most balanced of all the residential inventory right now at about 6 months. That means there may not be a lot of super awesome deals right now, but a fair amount of both buyers and sellers. 

Going back to getting started, how close are you to having your downpayment saved up? 

@Kyle Leinart

Hey Kyle!

I'm also here in McAllen!  I have my license and invest. I have a 4plex in Edinburg but haven't done much more as far as my own properties after that. I am looking into a few smaller commercial flex warehouse since my husband has a commercial re firm - he knows that product pretty well. 

What kind of properties do you have here in the Valley?

Kasey 

Hi Norbert! 

I'm from your neck of the woods down here in Mcallen. I got started in real estate about 5 years ago - mostly because I wanted to invest, but ended up getting my license and I work here with Star Properties. I only have one 4 plex up in Edinburg and have been saving up for my next down payment. I'd love to chat with you about the area and what's going on down here. Also, think your motivation for getting into RE is fabulous - a very big WHY! That'll help keep you going! Talk soon I hope, 
Kasey :-)

@Norberto Molina

I'm an agent and investor in the Pharr area. 

@John Tan Good to meet another person from the RGV! I invest in the area and am a licensed agent as well. Would love to share thoughts about our local  market and opportunities. What I like about the area is the affordability of SFHs and our large rental population - which I suspect will only grow. Smaller commercial deals are what I'm investigating now. And with regard to the advantages of real estate on your taxes, I have a great CPA down here that I can refer you too as well. We should definitely share some ideas!

@Richard C. and @Steve Vaughan thanks for the quick replies yesterday. and @Michael Herr  - all really good ideas that I will copy and save in Evernote for this next property I have my eye on - Two of my biggest bills have been water related so am going to pay special attention to those tips - and pass these on to my contractor buddy. @Chris K. thanks for link. will read that now. and @Account Closed I vacillated about the title, but it's what my friend called it and seemed pretty fitting after I understood!