All Forum Posts by: Michael King

 No worries Herly. I was in Crown Oaks and familiar with The Woodlands, which is all a nicer part of Houston. I was directing my comment more on others who appeared baffled by the odd numbers. Unfortunately, as we both know, those taxes are exorbitant. I actually left Houston for 2 reasons - first we had just completed a 1000sf extension on our home and while I knew the property taxes would go up (from a manageable $5K), I wasn't prepared for $9K. I had just lost my high dollar job at the time, and knew it was time to leave that beautiful home as I could no longer afford it. 

And secondly I got a job offer in St. Louis where I could spend more time with my family. So, buh bye Houston.

Have a great day mate.

@Account Closed Tell them you're the caretaker and keep your distance - let them have the yard and privacy. I agree with others, get it rented, get some money coming in. Those Texas property taxes are another mortgage payment in themselves.  

A refi to 30 year would be prudent as well, and if you can afford the 20% down, awesome things happen - lower interest rate, lower repayments and no PMI. Even if you have to borrow the $50K from elsewhere.

This is Texas where there is no income tax and they have to make it up somehow. The last house I owned in Texas was in Montgomery County, 45 minutes drive north of Houston. I had a 3000sf house, property tax was $9000 per year, HOA was $600 and home and car insurance was another killer. I was living in a good school district; that's where your troubles begin.

Reminds me of the movie, "There Will Be Blood". Where he was talking about using a big straw to drink the oil from underneath that preacher's land. 

@Jason Graves That's an awesome dad that girl has there! What went wrong with your wife? Does she not see and appreciate all you're doing in real estate and trust your judgement? I would say if she doesn't come round, then this will be one of those things where you never see eye to eye. But don't stop what you are doing!

I have to start planning something similar for my 2 daughters. They're already introduced to the notion of investment property. 

 Up to the minute facts right there, thanks Patrick!

Something I am seeing real time locally (I'm just a guy wanting my next deal), is there is limited inventory with the same hungry investors circling, and prices seem to be up a little. 

This is a great thread with excellent information, thank you. 

In simple terms, if you have to should $100 out of pocket per month per door, how many doors can you afford to buy? If you have a $100 CF gain per month per door....how many doors can you afford to buy? Lots, as you are getting paid to do it. 

Waiting for appreciation is like hoping the dice will land on red. Appreciation if you can get it is nice, and getting paid while waiting is even nicer. 

 Hello mate and thanks for chiming in!

Sadly, I agree with you on all your points raised. I am fortunate enough to have lived in the US since 2006, but didn't start REI until 2016.

For someone who can't make it here, turnkey or cash deals seem to be the most viable routes. 

Then of course if someone does happen to make it here, what is going to be their method of remaining? There are visa options, or tourist entry, all with limited stays; or immigrating if you win the lottery. 

It is a wall fan. I don't think it was practical to put a range hood in, or maybe the builders didn't do them in 1950 when it was built. I'd prefer the fan out the wall anyway. Thanks for the comments! It was hard work learning how to cut and polish, but now I have my technique and tools it's going to make good sense to continue doing it in my apartments (only have 4 for now). 

Floor and decor sell nice granite for $272 a slab - 112" x 26" with a 6" backsplash. I think that's about $13 a square foot. If you have the tools to cut and polish it, you can make out like a bandit. I'm just about done with my second apartment granite kitchen upgrade this year.  I also painted the cabinets. I also replaced the stove (on sale home depot $520). The sink, faucet, backsplash, outlets and fan were already there.