All Forum Posts by: Polo Vazquez

You can get passive income in Texas but you have to look beyond the big cities. In the city I live in you can get properties to cash flow even if you buy them at market price! All of my properties make $100 to $300 per door. Although, I do self-manage so that helps.


How do you plan on financing your properties?

Guerrero CPA gets suggested a lot on here. I use them and I'm pretty satisfied with them so far.

This is very odd. Legally, they have to present them all offers but before you try to persue with legal matters I would contact the agents broker. The broker can make sure the offer is presented. The other thing you can do it get your own agent that is actually representing you and will make sure your offers gets seen by the buyer.

Anyways, I feel you. There is A LOT of shady agents in this area.

If they tell you that they can't put the Heloc under you wife's name only because your name is on the deed as well then you can remove yourself from the deed and problem solved! Since it's paid off you should not have a problem doing so. There should be a way to do it! you just need to figure it out. 

I've been using an online hard money lender now. Closing costs and interst rates are a bit higher buy you can make it work. Last loan I got I got a 5.25 interst rate. I will say they did charge me a high interest rate on the first loan I got with them. They said the more I work with them the better rates I get and so far it seems to be true. Hit me up if you want more info!

1) Yes, this is exactly what a cash out refinance is. The bank will give you in cash 75-80% of the value of the home but you will now have monthly payments on it due for the next 30 years. Basically the same as a regular mortgage.

2) If your wife has a good enough income, you probably don't even need to be listed on the HELOC hence your credit score won't matter. If you do put yourself on the HELOC, they might charge you a different/higher interest rate. Go to your bank, banks give very cheap HELOCS. Credit unions give good ones to.

This is a very good strategy in my opinion and I've heard Indiana is a good market to invest in! Best of luck.

Buy single family residences Try to buy as many as you can per year and use financing. Reinvest the rents into buying more. With appreciation and loan paydown you should be gaining good equity. Once you have enough equity sell everything and buy a big multifamily.  Speed up the process by buying underpriced properties.

For example, 2 properties I bought 5 years ago have gone up in value $30 to $40k plus I've paid down about another 5k in debt. I also have another $25k in equity from my downpayment. Altogether, I can sell these two and get about $120k. I can use leverage to buy a $500k property with this money. In my market, I can buy a small multifamily with this. 

Yup, and don't put grass. Tenants don't take care of it anyway. Throw some mulch or rocks and call it good

Hey Brennan. The area I live in (Mission, McAllen, Edinburg TX) has A LOT of fourplexes both new and old. If you want to do a BRRRR you can look into buying and older one and fixing it up. I have seen a few that fit that criteria go by in the last few months. I will say though since they make the entire neighborhood of the same type of fourplex, doing a major rehab won't push your rents up too much because your surrounding will bring it down. I suggest doing minor work like painting a maybe adding a backplash. Things like that.

Hit me up if this market seems to be of interest to you

Hey Daniel! Sounds like you have been doing a lot! I'm glad you decided to go into real estate now. You won't regret it. Hit me up if you ever want to go get a coffee and talk real estate. I absolutely love to talk obout the topic. I use to work in the oil field and invested half my income into properties every year. Last year I quit my job and decided to go full real estate.

@Joseph Ryan so there will be a meeting on the 27th? Brewsome seems like an ideal place to have them haha