All Forum Posts by: Mike Wylie

@Account Closed  

I don't want to do a big flip for our first one so I am looking in the suburbs around Lake Highlands, Richardson and Garland.

Hi Ram,

HOA fees definitely take a good portion of the cash flow so if you go this route I recommend being confident in the rental market where you purchase. Additionally, I got hit with an assessment this year for improvements so you have to factor that in as well. At this time, I am in it to cover my costs and build equity so while I would like more cash flow, I am not as concerned about it for now.

Best Regards,

Mike

Caleb - Sure, send your ideas and lets chat.

Curt - I have not rented to SMU students, mostly professionals a few years out of school. Not opposed to it but like renters out of school since they will tend to stay longer. The rents are covering my expenses. We just did some minor renovations adding new flooring, appliances and countertops so hoping to raise rent. Equity has increased on these 2 condos quite a bit in just 2 years. 

I run a digital marketing agency in Dallas and do real estate investing on the side. Currently, I have 2 condos in the SMU area. My wife are exploring more condos as well as looking for our first flip.