All Forum Posts by: Luciana M.

I would like to see what cities closest to Austin or on the outskirts of Austin people are moving to. I'm new to this real estate game, and have been told about Austin - but central Austin (near all the tech) is out of reach for first time investors like myself. I'm curious about where people are migrating to and what kind of jobs they're doing. 

Another thing I am curious about are tenant vs. landlord laws. I currently live in Maryland, which is way too tenant-friendly. As Austin becomes more "blue," there's a potential for more tenant-friendly laws that may make it difficult for landlords to ensure that their property is taken care of. 

Hello and thank you for taking a minute to read this!

I am a Tenant in Common "owner" and this home is placed in a Trust. However, I am also looking at buying a condo in Northern Virginia

I am trying to figure out the best rental-income scenario, but with the lowest liability. 

I could move out and rent my current home, and net about $800/month after property management fees (I would prefer that at least in the beginning) and some portion set aside for fixtures. However, I am not sure that I can put a house that is in a trust inside of an LLC, so is my only liability option here an umbrella insurance?

Alternatively, I could establish an LLC and buy and rent the condo, but...I would likely be losing $500/month because of the purchase price vs rent factor. The area I am looking in would result in a slightly higher mortgage than I could rent for...initially. I could also house hack the condo, but I'm still worried about liability and would be worried about being a landlord living with tenants. I figured I could bypass this by living in my own LLC...but I think I would miss out on valuable tax benefits, and I'm not sure an LLC would actually cover me in this scenario.

Any other options?

Apart from the awesome folks here, should I engage a real estate lawyer and a real estate CPA? And if so, any advice on what to ask outside of these scenarios?

Thank you soooooo much!

Thank you Eddy and Fabian! I do have a realtor, and didn't know that MLS gave me that type of information, so this is awesome feedback. Thank you!!

Hello!

Newbie here, trying to purchase her first rental property. I am looking at the Woodbridge area, but I'm not sure how to find out how rapidly I can rent a property. The home I am looking to buy is move-in condition. I don't have the capital (and frankly the patience) to make renovations, but I want to buy and hold a place in VA because that area is exploding. My guess is that the Woodbridge area will get to that point as well, even though right now there is no metro/subway running to it right now.

Can anyone give me some advice on what tools, techniques to use to find out if an area will rent fast? 

Thanks much! Happy new year!