All Forum Posts by: Laura Sulak

Hi, @Frank Connelly! Welcome to BP and RE investing! You're definitely in the right place to remove your family from the vicious cycle of depending on a W-2 for your financial stability. I know it doesn't seem like it, but you have SO MANY options to get yourself out of your current situation. It's just going to take some education, creativity and time. How determined are you? Are you willing to keep trying until you succeed and not give up, even when it seems like there's no way out? If you answered yes, then you're going to do just fine!

I agree with @Jaron Walling. Re-route your IRA funds into investing in RE. Your returns will be better. And your personal home is not a liability! Stop feeling bad about that starting today. You need a place to live, and you can some day pull equity out of it in the form of a HEL or HELOC for your REI. And see what you can do about reducing auto loans into something lower or even nothing, like a cash car, at least for now.

Question: What did you mean by your post title "Low Income Rental Property Investing", that you have low income, or that you're interested in low income housing? Just curious. 

@Ryan Hawkins Do you mean how long can one expect a vacancy between tenants on a 3/2/2 SFR in Temple? If so, it will depend on the property location, condition, rent amount, square footage and competition in that same class. Does your property differentiate itself from others in the same class? Do you offer something as a landlord/manager that others don't?

People are still moving to Temple and still need a clean, safe, pleasant place to live, so it depends on many factors... I don't think anyone can give you a definitive answer. There are too many variables at play. 

Hi, @Ryan Hawkins. Like @Account Closed, I haven't had problems renting due to COVID-19, but the health of the Temple market will depend on each property location, condition, tenant situation. The medical and military tenants that are so prevalent around here are almost always going to provide stability. 

Hi, @Shaun Kelly. I also have rentals in Temple, and I'm not raising rent at this time, due to the current uncertainty of the market, plus I refuse to be a price gouger. My prices are fair for my A and B properties. I've lived here for 22 years, and Baylor Scott & White has always kept Temple employed and will continue to do so. Properties don't need to be near the hospital or Fort Hood to be attractive to the medical or military community. The need to be in a safe location and be well kept and well managed.

Without knowing your location, such as your town and neighborhood, my suggestion is to go with the first proposed layout. I have some very nice older rentals in the historic district in Temple, Texas, 3/1, 2/1, 1/1, from 500 to 1200 sq ft, from 60 to 100 years old, and they all open into the living area. It’s standard for older homes, and I don’t have any problems renting them. Good luck with whatever you decide to do! 

Welcome to BP and to Temple, @Caleb Longino! I'm a buy-and-hold investor in Temple, too. Let me know if you have any questions about the area and best of luck with your rehab and rental.

Hi, @Adrian Fajardo! You're right to be interested in this area of Central Texas. Temple is a hot market right now-great job market, low cost of living. We do have a great RE meetup here: https://www.meetup.com/Masterm...

I prefer to avoid Killeen and Ft Hood, as do most of my investor friends. Too much turnover, damage and financially insecure tenants. Let me know if you have any specific questions about Temple.

Hi, @David Olson! Temple is definitely a great place to invest. The market is getting hotter, especially with Austinites leaving the city for a less expensive, quieter place to live. I've lived here over 20 years and know the town well, so I'd be happy to visit with you, too. My properties are all in the historic area of town, so that's my specialty, but there are many great areas to choose from, depending on an investor's strategy.

Killeen is a tough market. I personally won't invest there and know many who won't, either...lots of tenant turnover and damage to properties.

We have a great meetup here, wonderful folks, led by @Vern Darlington. You can find more info here: https://www.meetup.com/Masterm...

Best of luck in your search here, and I look forward to meeting you and your wife, if the opportunity arises.

@Account Closed

@David Olson Thanks for the bump. After three years, I’m curious what everyone’s updates to their previous posts are. 

Three years into managing my eight units here in Temple, I HAVE LEARNED SO MUCH. The market is growing and getting hotter as Austinites move this way to get out of the city. 

What has everyone else been up to?