All Forum Posts by: Mario Walker

@Garrott Nalle what areas of town have you seen be the lost successful with STR? I would assume that anything near campus would be the best, but I could be wrong.

My wife and I are wanting to house hack a small multi family with our family and just want to make sure we utilize the other unit(s) the best way possible

@Austin Hughes thanks I appreciate that.

@Austin Hughes what time/where does the REIA Group meet in Lubbock?

I have a rental home that was originally my primary residence in a Northern suburb of Dallas back in 2012. I purchased the home with a FHA loan and put no money down. At the time I had no interest in investing but read Rich Dad Poor Dad soon after the purchase and wanted to get started. Since my purchase the property taxes have gone up exponentially but so has the property values in that area. I purchased for a little over $130k, owe a little over $112k, and had a realtor friend pull the comps which were selling in the range of $195-210k range.

To get to the point, I’d like to refinance and move the money to other properties but I’m not sure if my credit is strong enough for a conventional loan but I’m not fully versed in alternative financing options.

1. What are some pros and cons of refinancing?

2. What are some of options outside of conventional refinancing?

The property was also a new construction when I bought it.

Jeff Smith sounds great! Really want to connect with people that are active out here!

I'm a little over 300 miles away. It was a former primary residence that my wife and I decided to rent instead of sell. It was a new build when I bought it back in '12. I've only had one small issue and I was able to call a friend and he referred me to someone that was able to help me take care of it. Very low maintenance family in the property. I'm working on developing a good team of people now that could help me handle any situation. Thanks for the reminder Mike that I am an investor and not just a landlord. This isn't just a hobby that I want to casually do hear and there but something I plan on building a business out of and therefore need to change my thinking.

It's going on year three of a being a landlord and I have been beyond blessed to have amazing tenants. I'm currently trying to be a first time landlord from a distance. What are some tips/systems/advice you would give or wish you would have known about being a first time landlord and landlord info from a distance?

Austin Hughes that's what I'm thinking may be something I do. The value in that area has shot up tremendously since we bought it. I do feel like it's something I can bring to the table in addition to being willing to do tons of leg work.

Hello All,

My family and I are new to the Lubbock and West Texas area and been out here for a little over a year.  She's in Medical School and I am in the financial service arena.  I've put my desire to be a real estate investor on the back burner long enough.  I'll be 30 soon and really felt it was time to follow my heart.  

We fell into being landlords when we moved out of our residential property in Dallas a couple of years back.  We had no idea what we were doing then and still don't know much beyond what I've read here and in other books.  I'm eager to learn and glean from everyone's knowledge on here.  

Our goals are to own large apartment complexes and commercial property.  My wife wants to run her medical practice but I would love to play monopoly in real life.  I'm glad I found this site because I am eager to get connected with other investors and like minded people to help turn a dream of leaving a legacy for my family into a reality.