All Forum Posts by: Polo Vazquez

Hi BP!
The Texas Governor just announced a $33billion surplus. He also stated that of those $33 billion, $15 billion will be used to help Texas with Property Taxes. 

My question is, what is the best way to implement this tax cut?  They mentioned they might give the money back by increasing the Homestead exeption. This would mean that you would only get a break on your primary residence. I believe this would be a fair strategy but then all the people that rent would get nothing. I know they don't pay property taxes directly, but they indirectly they do. As investors, it would be awesome if they just slash ALL property taxes across the board this way we get a tax cut on all of our properties. The idea being that landlords hopefully lower rent since they are saving more money. However, we know this might not happen so this method might be soon as helping the rich mostly and the poor not enough. How would you distrubute this money? Property taxes  in Texas have gone substantially due to home values skyrocketing during the Pandemic. I really hope they can figure something out.

I use to work with Berkshire Hathaway Don Johnson Realtors. Their PM team knew what they were doing and they have 200+ realtos backing them up to find tenants when needed. I dont know if they do 5+ multifamily though.

Come join us to talk about real estate at out monthly meeting! This event is for all investors! If you are new and have no idea where to begin then come learn from experienced investors. If you are experience then come meet people that you can add to your team! Come meat like minded people who will support you in your journed to financial freedom.

Hey Mr. Sanchez. We change it around because we have people that cant go on a certain day of the week or certain time of the month. Follow me on instagram or facebook to keep track of when we do it! @realtorpolo

Quartz seems to be the popular option... maybe include a little section made of wood next to the stove (sort of like a cutting board) so they can use that to set the hot pans. You can replace that section every now and then. It would certainly be cheaper than having to replace cracket or discoled quartz. I'm just trying to get a little creative here.

 Get a phone number from google voice. 

My biggest learning expercience was that raising rents every year is an absolute must! Even if it not much, you have to do it. If you don't, property taxes, insurance, and rising maintenance cost will catch up to you and leave you losing money every year. Rising costs is so subtle that you won't even notice until it's too late. Also, when it comes time to do a cash out refinance, if you haven't been raising rents you won't be able to pull much cash out without leaving you with negative rents.

You can do almost all of these on Stessa. The ones that you can't, like HOA address, you can upload a PDF to the uploads section ( with the information you need on it) and link it to the corresponding property. You can add leases, extensions and addendums there to.

I really like the software. I highly recommend it. BTW I know a great realtor and investor in Houston. Let me know if you find yourself in need of one.

I understand you don't want to get the cheapest/used appliances out there, but also don't go and get the $3000 refrigerator with a TV screen on it unless you plan on taking them with you later. Your tenant will not take care of them as you do. Buy some decent, standard appliances.

Don't buy Samsung or LG. It's very expensive and hard to get parts for them. Buy Frigadiere, maytag, GE. Any american brand.

Everything eveyone here has said so far is very good advice. 

Another thing that has helped me attrack investors is to actually get out there and teach people how to invest. Teach them about the 4 ways that real estate makes you money (loan paydown, tax benefits, appreciation, cash flow) and teach them how to analyse properties to see if it's a good deal for them or not. Make a calculator on excel and share it with your clients! You don't have to just find already existing investors. You can make new ones.

I don't know about creating an LLC somewhere and buying somewhere else. My advice though, is that A LOT of banks don't lend to LLCs. Best route is usually to buy it and finance it under your name or your Dad's name then later transfer to LLC. Just be carefull because the financing bank can call the loan due when you transfer it. It is not common, but the can do it. If you really want to do everything as an LLC I've found the best loans are DSCR loans. DM me and I can send you the people I have used for DSCR loans. They are a very good option, just a little bit more expensive.