All Forum Posts by: Kian Tajadod

Anyone have a general ballpark of what cap rates are on 8-15 unit MultiFam in Houston?

@Bjorn Ahlblad definitely, already have the cameras coming in

Hey everyone,

so I had a tenant that I had to evict. They left a horrible mess behind with trash and unwanted belongings. We threw everything out and have been cleaning up the property. Recently a private company has been breaking and entering my property. Leaving notes saying that the property is vacant, stealing some of cleaning equipment, and even changed one of the locks on a back door. They even left a notice saying something about the mortgage servicer. Doesn’t make sense because the house is fully owned by me… no mortgage. I have no clue what they’re doing and will probably get attorneys involved plus trespass them. Just wondering if anyone knows why they’re doing this, what they’re trying to achieve, and why they feel they can just break in?

Thanks!

@Craig Jeppesen completely correct, the margins would probably be extremely slim if not non existent.

The housing market is and has been quite strong, making it tougher to find good deals. The way to get the best deal is definitely looking off market. Recently I was thinking if it would make sense to find listed properties that need less work (specifically in the kitchen/bathrooms) and not necessarily meant for investors. Aside from cosmetic work, most of the rehab money would go straight to the kitchen and bathroom since those can boost value. Could this work? Purchasing a property at around 6-10% discount and then adding most value to the kitchen/bath. I would assume that it could be very much up to the person doing the appraisal? What do you think? 

@Jim Cummings 

Got it, thank you Jim. I'll contact my insurance agent.

@Jim Cummings thank you for taking your time to reply! I am working with a hard money lender to finance my investments. However, if I was to decide to refinance, I would assume the points you made stay very relevant. I've heard of the Umbrella Policy, but I need to look further into it. Would you say it's recommended to get it once more and more investments are made, or could I get it for the first few? Thanks!

I am licensed, and have gotten advice that it could help to form an LLC to invest through. What are your opinions, or what are you yourself doing? (Texas) I'd appreciate any feedback, thanks!

That's right. Here in Texas we do need to disclose our license and, like you said, no one's required to have an agent. I was told by my broker to use a Registration Agreement between Broker and Owner for this. I am aware of the difference between Realtor and licensed agent, they made sure we knew when we joined. Thank you RJ!