All Forum Posts by: Matt Brown

I'm also curious about this. We have 1 property and used Cozy for the background checks, it was very helpful. Would like to get some software setup for future properties. Cozy only lists to a couple sites, so thinking about something else.

This thread is a time capsul of awesome. 

Central Texas here, would love to find something too.

Thank you, Andrew. 

Very useful and points me in a direction to start looking. I figured zillow was a bad bet, I'll steer clear. 

First off, I'm new to investing in texas. With it being a non-disclosure state, how do you get accurate comps for buy and holds? Is the zillow zestimate even close? 

Welcome! I'm somewhat in the same boat, new to area, really just starting, hate the 9-5, however the 9-5 pays the bills for now.

Flips and rehabs scare me, I think because I don't have enough experience figuring out the ARV, however I've plenty of experience in buy and hold rentals, just not this area.

I'm looking to expand my portfolio but trying to get the cash for the down payment (only have 1 SFR right now) Currently, I have a Roth IRA that's in mutual funds, sizeable enough for a down payment plus what I have in savings. I've a decent paying job and looking for a conventional loan on SFRs.

Two questions really, one, can I cash out my Roth and put it into property without the tax penalty? Is this even possible. Two, is this even a wise decision? 

I'd love to hear your thoughts. 

Excellent! I love the tips! That gives me a starting point. :-)

I'm a first time home owner but relocating due to my job. I've never rented it out before but I'm looking to do so.

So just to see what type of interest I would get I posted an ad on craigslist. I have had several interested tenants. Although the place is not available for a month or so, what do I need to do now as far as filtering my tenants? A few of my solid questions are...

- Am I required to have a formal application? What should be on it? (I've never rented a home myself)

- What about credit checks? Who can run those for me? What is an acceptable amount of risk in regards to their credit?

- Once I've selected a tenant, do I just have them sign the lease agreement? I plan on using an attorney to draft that just to be legit and official, but once signed they just move in and live?

These may seem very basic, but when I read through everyone else's posts it all seems specific to their situation.

If you have all that paperwork I would say take it to Kinkos and have them scan it all and organize it for you. Get meticulous with your organization of it.

You probably have a back up drive. Back your files onto an external HDD or disc (depending on the size of the files) and store in a fireproof safe. You should be good to go - your own data center.