All Forum Posts by: Mak K.

I am in contract for a Single Home 2007 built. The owner does not have a survey. Contract states buyer to pay for survey. I will be paying cash. Do I really need a survey to be done? My plan is to rent it out long

So what did you end up doing

Has anybody done Anonymity LLC and how did you plan it out? Is it worth? Can the same Anonymity be achieved in another fashion such as blind trust etc

Please share your experience and setup and why did you do

So after lot of thought, this is what i figured out. Older homes comes out to be cheaper as land appreciates and building material deprecites. So buying new homes, you loose some

So i have done LLC for some traditional business using a CPA and have done one myself using online websites too. The CPA charged me $750 ish while myself it costed me $350ish. I never understood as the CPA just gave me a binder with blank forms/operating agreements etc.

So when people say, your llc should have this clause and that clause, what are they taking about because the operating agreement is written by the owner and never submitted to the state. So in case of lawsuit, I anyone can change the operating agreement. Is my understanding correct? Or am I thinking it wrong?

Help me to know if you used a CPA for LLC and what did they do besides filing,

So in the past I had a LLC setup by two CPA who charged me $750 for LLC and gave me a empty binder of operating agreement, forms etc. At the same time for another LLC, I did it myself using online services. Well when I did for myself, i had a small experimental business so decided not to spend on it.

I am in process of buying my First real estate and am wondering if I should go thru CPA or lawyer ormyself. 

So I was running the numbers. If I buy a new home which is 1700 SF on a lot of 4500SF (No backyard), its targeted to low income starters home. The ROI comes to be around 5%. I will be making cash purchase. The house is selling at $190k. Since I am buying from builder and they do cookie cutter homes, there is no room for negogiations or upgrades. Tax is 3.4%

Is a 5% return good? The builder plans to built around 800 homes and they raise prices

Good points. Also once concern I have is this is a low cost builder trying to advertise $0 down, $800/month mortgage homes. Hence they help low income with all government subsidies etc. So now I will be competing against my rent which will be around $1500/month in the same community.

So, while i was looking for rental investment properties in Houston, TX, I came across a builder whose target is starter low cost homes. They are selling 1400 sf +/- for 180k +/-. Ofcourse it has small porch type backyards only. But at the same time if I look for older homes, all of them are 190k. 

Assuming numbers make sense, If I am just looking for rental investment, would it make more sense to just buy a brand new home? This way I get warranties for first few years and no maintenance. 

The only concern to me is that although the builder is very known and good ones, does low cost home have low quality stuff which may become a headache down the line in next 5-6 years?

Anybody who have look into such scenario and have bought brand new homes and rented out?

So, I am calculating my ROI for a rental I am considering. The house is 180k, 3 Bed, 1700SF and not in flood zone. Rentals in the area goes in range of $1500-1750/mo. Taxes are $3500-$3800

For calculation purpose I am using vacancy of 10% and Maintenance cost of 5%.  

How much should I allocate for landlord insurance? I need a average plugin for Houston,TX area?