All Forum Posts by: Mason Klein

Hi folks -- I am very interested in this venture. I hope there are more episodes to be filmed!

Investing Experience- No real estate experience... yet. However, I have been listening to BP and reading a ton. I do have investing experience in the stock market for years.

What you want to learn- I want to learn how to create a lead pipeline and how to analyze deals. 

Roadblocks (if any) that you're currently running into- Analysis paralysis and which method should I dig into for lead generation. Networking and meeting local investors.

A few sentences about you- I live in Stapleton and am from Maryland. I have a great job but would one day like the financial freedom to have a business and enough passive income to do the things I truly love to do. Also to hopefully not have bound to an office with kids and a dog in the future.

Thank you for being a vital part of the BP community!

@Benjamin Conner Thanks for the response! I have looked at countless houses and comparable rentals in Burleson. There is nothing (3BD/2BA ~1300 sq feet) renting for more than 1650-1700 and most updated houses are $180K and above. With these numbers (and the high property tax) its hard to find something with more cash flow. I am most looking at updated houses which come with a premium but I get worried about purchasing a house that isn't updated. Either get worried it will be harder to rent or not excited to perform updates from out of state. I know a more outdated home would be less expensive and more opportunity for cash flow. What are you thoughts on an updated house vs a house that needs some TLC?

How much do you all budget for vacancies and cap ex repairs. I am looking in Burleson and found this property that I think is a good investment and its been completely redone. Was wondering what you guys budget for vacancies/cap ex repairs, and also if the proposed rent of $1600 is reasonable for Burleson. Also if anyone has experience renting in Burleson and if its quick finding a tenant. 

House: ~1300 sq feet, 3BD/2BA, completely re-done.
Loan Amount: $131,250

Mortgage (Principle, Interest, Taxes, Insurance): $1,115
Vacancy, Repair, Etc: $100
Total Expenses: $1,215
Proposed Rent: $1,600

Cash Flow: $385
Cap Rate: ~%10

@Khanesia Washington

@Khanesia Washington

Hi -- I am a newbie but have done a ton of research and podcasts and running numbers. I live in Denver and its very expensive here and hard to find a deal. I have family and a network in the DFW area that is in the real estate world and has done investment properties in the past so I am comfortable with my first venture being in DFW. I have been looking in Burleson, Garland, Richardson, Watagua mainly. Would love to connect with a real estate agent who does investment deals.

Thanks,

Mason

@Scott Passman Thank you for the response. I have been looking for a long time and havent found anything that would meet those numbers. Maybe I can change the area I am looking. The only reason I liked DFW is because I have a network there so could rely on them instead of PM to save money. But I guess if I found a better deal out of state without a network there, and budgeted in a PM that would work too. 

I live in Denver and have been interested in REI for a while now. Listened to countless podcasts and reading forums. Denver unfortunately is VERY expensive and have even search Colorado Springs but nothing is close to the 1% rule. I have a network in Fort Worth/Dallas area and have been looking there at much more feasible opportunities. I am not that interested in the BRRRR now since its out of state and do not want to do that as my first venture. I found a place in Burleson and was wondering if that was a good area for rentals and if my proposed rent is around the going market rate there. I will not be using a property manager. My question is if anyone has experience renting in the Burleson area.

House: ~1300 sq feet, 3BD/2BA, completely re-done.
Loan Amount: $131,250

Mortgage (Principle, Interest, Taxes, Insurance): $1,115
Vacancy, Repair, Etc: $100
Total Expenses: $1,215
Proposed Rent: $1,600

Cash Flow: $385
Cap Rate: ~%10