All Forum Posts by: Michael Dang

@Juan Vargas and @Duane Smith have good advice.

Also read and subscribe to local RE Business Journals, which may highlight some MF transactions which may list the brokers involved.

Check out meetup.com.  Here's one in Houston.  Do a quick search and you can find others that specialize in different aspects of RE.  Take that step!

https://www.meetup.com/Real-Estate-Investors-of-Ho...

Welcome!  Check meetup.com for groups.  Do a few different keyword searches.  A good one to attend is https://www.meetup.com/Real-Estate-Investors-of-Ho...

If you can make it here you can make it anywhere!  Welcome to BP!  Houston has good opportunities.  Listen to the podcasts here and others.  Glad you stopped lurking and taking your first ACTIONABLE step!  TAKE MASSIVE ACTION.

I get the security deposit and first months rent during the signing of the lease.  No holding of the unit unless they have a long good history with me.

I'm no expert in that submarket but here is an article I just read about College Station for your info.

"According to a recent Census Bureau report on “predominately renter” cities, College Station is at number one nationally, with nearly 60 percent of its residents in rental housing."

https://comptroller.texas.gov/economy/fiscal-notes...

No programs per se.  It's a MF is a relationship business.  As a first step, go to Loopnet and reach out to the listing brokers to form a relationship.  I would also look at the local and online real estate business journals.  As Ryan mentioned, your ability to close will open doors and set expectations that your first deal will be the hardest.  

Maybe add a bike rack for those students that don't have cars

With the extra space add small storage spaces for rent or add it to the monthly rent

Offer furnished apartments which you can charge a premium

Just a few ideas.

If you have an active HOA then check the by-laws, it may forbid garage or yard sales. If they miss another payment then begin the eviction process and\or do not renew the monthly lease. I understand that turnovers and vacancy loss are the biggest cost for any SFR, so that needs to be taken into consideration. If you get a new tenant then add new clauses to the lease. Hope this helps.

Document each time you've tried to contact the tenant and the method.  Take a further step to contact the emergency contact (if any).  Serve the eviction notice, following all the local jurisdictions eviction laws and process.  Now is the time.