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All Forum Posts by: Michael Solomon

Michael Solomon has started 2 posts and replied 21 times.

Post: FHA Restriction rule???

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6
Originally posted by @Savannah Lewison:

@Michael Solomon I am curious about the route you all decided to take!

Sorry for the late response.  We're going the traditional house route, then getting into properties. 

Post: FHA Restriction rule???

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6
Well, we've decided to take a different route now that won't attempt this strategy.

@Brandon Turner @David Greene great episode!

How about naming #6 "house stacking" even though that was the name for #7 and then renaming #7 "compound housing" as it multiplies the doors everytime. 

Post: Does home owning even make sense in Austin?

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6
Originally posted by @Allison Stewart:

@Michael Solomon, are you saying a 1 bedroom ADU would bring in $1200 in the Rundberg/Lamar area? Because if you are, I would strongly disagree with that assessment. 2/1s in the area with attached garages, even fixed up ones, top out at around $1295 a month. You would be hard pressed to get $1200 a month for a 1/1.

 Wow, thanks Allison, it was a guess on my part. I didn't look up rents in the area. That definitely makes a difference. 

Post: Does home owning even make sense in Austin?

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6
Originally posted by @Shawn Jaffee:

@Michael Solomon I'm assuming this deal is on the MLS?

Yes, it's on the MLS as a single family.

Post: Does home owning even make sense in Austin?

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6

Shawn, there's a SFH over there with an ADU that needs work that might fit what you're looking for. Sorry I don't remember the street but it's a decent home(needs leveling) and with a couple fixes the 1 bedroom(needs plumbing in kitchen) should make $1200 (this is my opinion).

Post: Does home owning even make sense in Austin?

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6

@shawnjaffee how do you feel about the lamar and rundberg area?

Post: First Purchase Today!

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6
Congrats!

@Shawn jaffee just go ahead and try and submit one.  The worst they can do is reject it, the best being they counter. That means there's room to play. 

Post: Multi-Family Austin MSA

Michael SolomonPosted
  • Austin, TX
  • Posts 21
  • Votes 6

I'm currently looking, I've been looking everywhere even Lockhart. But that's too far from Austin for me.