All Forum Posts by: Michael Olmstead

They are not going to walk away form $1,000 super low rent too willingly. Is there any security and/or pet deposits coming your way? They get that back 100%, one month free and a great referral to help them on their way, if they agree to sign a lease amendment shortening the term accordingly. If the deal is good enough you can afford to buy them out, but make sure it is negotiated beforehand. If the margins are tight, 10 months of hard money loans is misery. God forbid they squat beyond that 10 months and then you are further behind. Adjust the lease term prior to closing, period. Both sides put a little in, then everybody is happy.

Yes, we currently manage several properties in far west Fort Worth and several more in the White Settlement area. That is a great part of Fort Worth for buy and hold investment properties. Let's chat!

My wife and I began flipping houses in 2017 for ourselves and we are now on the fix and hold side of things with our Property Management company. I grew up on the west side of Fort Worth and actually graduated from Arlington Heights high school. Are you looking to buy an older property in west Fort Worth? There are many newer builds in far west Fort Worth. My first personal home was a HUD owned property. I will send you a request so can connect, thanks.

Post for free on Zillow, always get tons of leads there. Decline the Zillow application option, that's where they get money out of you. Otherwise it is free and you will get some hits for sure.

"Buy land because they aren't making any more of it"-Mark Twain. Makes sense, if it is a great deal and it will of course appreciate over time. I would avoid building commercial properties in this work from home, post covid market. Maybe consider build-to-rent properties? Renters will be less concerned with the railroad tracks than homebuyers. Just a suggestion!

Definitely want to keep that low rate mortgage locked in and let the value increase over the years while the balance goes down. Let those puppies cash-flow. Have you updated the properties and are they at market rate? You may have to make some cap expenditures but max out that cashflow and depreciate the repairs.

I am assuming you are looking long-term on renting your primary residence and not interested in selling any time soon. It's a great idea to let the tenant finish paying off your mortgage over time and continuing to build equity. I am a life-long Tarrant County resident and have invested exclusively in the Fort Worth area over the years. I know the area very well and we currently manage rental properties exclusively in Tarrant County for smaller investors (1-5 doors). Message me some basic info and I would be happy to put together some numbers and calculate cap-rates for you.

Hi Maricela, I am a lifelong Tarrant County resident and have invested exclusively in the Fort Worth area over the years. I definitely know the area well. We currently manage rental properties, mainly in the Watauga, NRH, Keller and Mid-Cities areas. Where are you looking to invest? I would love to help you out and at least point you in the right direction!

Curious to know what the value per door would be if buying or selling a management portfolio. I am assuming a sliding scale for larger portfolios? I know it is obviously very subjective, but there has to be a baseline price per door in the industry when buying or selling management agreements. 

Need to pick the brains of our experienced investors and brokers out there. Let's say I have $2,000,000 cash to invest in buy and hold rental properties in Tarrant County, for a period of 10-15 years. Do I buy 8-10 single family rentals? 3-4 duplexes or quadplexes? A small apartment complex? I want to max out my ROI on the investment, but more doors seems like more work VS more individual units bringing more headaches and higher maintenance costs. Thoughts?