All Forum Posts by: Matt Bishop

@Tracy Wang, it seems like everyone is moving to Texas. Especially when the National economy is booming and especially when the National economy is in severe recessions. Oh, and all the other time too. I’ve only been here 58 years so I haven’t seen everything but I’ve seen enough to confidently invest everything I own plus everything I can borrow into Texas real estate.

@Tessa M, I would just let sleeping dogs lie. You said they have been good tenant for 3 years. What could you gain by losing them?

Besides, the dog has probably already been there three years. If, In the end you have collected 2000 per month for 4 plus years, that’s over $100,000, enough to buy your forgiveness?

@Steven Jefferson, I would use the opportunity to get a separate water meter and/or Electronic Metering for each unit. I would inquire with the city water department and ask for advice. I concur with others who say stick with traditional water heaters unless building codes require thankless.

@Thomas Vida, Always tell the truth. Would you want to be deceived?

@Jesus Roman, there are no small multi family property available in Dallas. Every investor would love to own one but they have not been permitted for new construction in 60plus years. Virtually everything is SFH or 300 to 1500 unit complex owned by Lucy Billingsley-Crow or United Dominion Realty. My town, Southlake does not permit any apartments whatsoever. Only 3000' up SFH. You have to go to Tyler or Tulsa or Shreveport to find a four plex.

@Jasmine Smith, I’ve lived in Dallas for 58 years. Real estate here, about every 10 years, real estate about doubles in price as do rents. I believe It’s the most stable and predictable economy in the country.

@Jim K., I try to follow the Golden Rule and don’t differentiate between my personal life and business life.

@Chris M.

It depends on how well the stalls are kept clean and how and where the waste is of disposed of, how many animals are kept there and how many hours. Different people have different tolerance for smells. If you are already concerned, this may not be the right property for you. Some people are acclimated to the smell of animals and not at all bothered by it. I wouldn’t like living with the smell.

@Lauren Akins, my goal is to be debt free including my personal home and have $12,000 per month guaranteed cash income that adjusts upward to match inflation.

@Alex Duarte,

I attended a landlord seminar put on by Dallas Housing Authority about 20 years ago. There was a federal marshal speaker who told us it is a violation of federal law to accept money from the tenant above what is stated in the lease. The housing authority will not approve a lease with a rent amount that exceeds published rent standards for the zip code. If you follow the laws exactly, you can make reliable money with the section 8 program. Some zip codes and bedroom count are profitable, some not. It’s been my experience that section 8 voucher holders are quiet and respectful as they can lose their voucher without due process if they make any trouble. Always do a background check on every adult who will occupy your property. Single mothers with young children tend to stay in one place until their children graduate high school. 4 bedroom vouchers/ houses seem to yield the higher cap rate and the higher rent per unit. Providing section 8 houses is a great way to assist those who are in need. No room for political opinion, racism or judgment. I suggest you get acquainted with the caseworkers at your local housing authority.