All Forum Posts by: Neal Daftary

Hello, I'm planning on purchasing property in the next couple of months. I have read about Series LLC. Needed advice and guidance on if I should initially start with a Series LLC or do a traditional LLC for each property. What are the pros and cons that you have seen? Did an attorney help you create this? TIA.

Hi. I'm looking for convention loan. 1 lender told me that per policy by Fannie Mae the required down payment for a single family home is 20% and duplex, triplex, 4plex is 25% down. Are there any lenders giving conventional loan at 20% for a duplex+? Does DSCR loans have same rules? TIA.

I’m looking to buy my first duplex. Would like to know if anyone knows of any lender options for 20% town instead of the usual 25%. Also any tips on where to find the best interest rates on investment properties would be appreciated. Thank you!

Thank you for the feedback @Nicholas and @Gino. 

@Nicholas, what % do you recommend for CapEx and Repairs and Maintenance, repesectively?
- I will ask the realtor for what all has been replaced during the renovation.
- It is listed on MLS and I will finance with the assumptions with 20% down at 7.5% interest rate.
- I live only an 1.5 hours away and plan to self-manage. 
- Any other input would be greatly appreciated. I am also looking at other properties which are much newer but will require a renovation. 

@Gino
- The comps are in line between $1,400 to $1,600. 
- The driveway and front entry path does need some work. There is 1 parking spot on the property and is being charged $50 a month (a tenant is paying extra for it).
-  I confirmed the tax rate and took the purchase price as the base.
- Any other information would be helpful.

Thank you again. 

Hello everyone,

I'm a first-time investor and I'm looking at purchasing a duplex in Texas. I'd love to get some feedback and advice from more experienced investors. Here are the details of the property:

- Leased until July 2025: $1400 and $1450 per unit per month
- Built: 1930's
- Zoned O-2

Information in the Rental Report:

- Vacancy rate: 5%
- Purchase Price: $310,000
- Repairs and maintenance: 7%
- CapEx: 5%
- Property tax: $3,600 per year
- Insurance: $2,400 per year
- Roof: Broker mentioned it doesn't need immediate attention but will likely need replacement soon (~$15,000).
- Cash flow: The report shows a $177 monthly cash flow.
- Condition: The house is completely renovated. One HVAC was replaced and second one had fan motor replaced. 

I asked the broker about the electrical and plumbing systems. He mentioned that "some plumbing work" has been done, but he’s unsure about the electrical system.

Questions:
1. What are your thoughts on this deal, given the information above?
2. What additional questions should I ask the seller and the broker, especially for a property built in 1937?
3. What other aspects should I keep in mind and look out for in a property of this age and condition?

Any advice would be greatly appreciated. Thank you!

Hi Jordan,

Thanks for sharing. Looks like I missed the event by a day. I would love to join future events. Please include me future events, I will also keep an eye out of in the forums as well. 

Hello, 
I wanted to share a fantastic investment opportunity that has just become available within the rapidly developing 116 acre urban mixed-use community, Northline Leander area in North Austin. This townhome, a brand new construction, offers a range of features that make it a prime investment choice, all within walkability of what is planned to be the "downtown of Leander".

*I’m currently in contract with the builder and due to unforeseen circumstances will no longer qualify for a loan, and therefore need to transfer the contract. Note, I am not a realtor.*

Townhome Property Highlights:

• - Located off of 183A, in the Northline District (https://northlineleander.com): HEB grocery, retail shopping, food and the MetroRail station is minutes away, both by vehicle and foot.
• - 3 Bedrooms, 3.5 Bathrooms: This spacious townhome provides ample living space, ensuring comfort and convenience. Each bedroom has a private ensuite bath and walk-in closet
• - 4 Floors: With four well-designed floors, there's plenty of room to relax, entertain, and enjoy.
• - Elevator: Built-in private elevator with easy access to each floor.
• - Extra Room: Storage room that could be used as a multi-purpose space
• - 2 Car Garage: A two-car garage adds both security and convenience to this property.
• - End unit: no neighbor on one side and expanded living room due to corner buildout.
• - Outdoor Patio: Imagine unwinding on your very own outdoor patio with pergola, located conveniently on the top floor for added privacy.
• - High end design selections: High quality fixtures and luxury appliances and finishes. Refer to picture for selections.

Prime Location: The property's location in Northline Leander is truly exceptional. As you may know, Northline is on the path to becoming a vibrant community similar to The Domain in Austin. By getting in early, you have the opportunity to be a part of the initial phase of development and secure a prime piece of real estate before prices potentially skyrocket. (https://northlineleander.com)

Investor-Friendly Advantage: This townhome is positioned to cater to investors' keen sensibilities. Its strategic location within Northline Leander, a rapidly developing area set to mirror the success of The Domain in Austin, promises a future of growth and demand.

Future Growth Potential: What makes this investment even more enticing is the future potential of the area. As Northline continues to develop, property values are projected to rise, potentially yielding substantial returns on your investment. The upcoming second and third phases are already priced higher, underscoring the advantageous position of this particular townhome.

Investing in the Leander, Austin area at this juncture could be a smart move, and this townhome presents an excellent way to capitalize on the growth and potential of this burgeoning community.

If you're interested in learning more about this property or scheduling a viewing, please feel free to reach out to me at 737-888-4467. I'd be delighted to provide you with further details, answer any questions you might have, and assist you in seizing this remarkable investment opportunity.

Link to view floor plan: https://texasbrownstones.com/wp-content/uploads/2023/03/03.1...

Virtual Tour: http://thebdxinteractive.com/Cloud/NovakBrothers/HillsideII/... 

Thank you.

Thank you for the input @Bryan Noth, @Guy Gimenez, & @Bruce Lynn. I didn't account for the closing costs and the builder canceling the contract. I am hoping the property would appreciate enough to cover the short term capital gains tax. @Bruce Lynn, can you me give a breakdown for the 8%? Does it include realtor fee? 

Looking to invest in the Austin area (Leander, Taylor, Hutto). If there any investment opportunities that are easy to get into, I would love to learn more about it. Thank you.

Hello BP Fam,

I'm new to real estate investing and looking for advice. I am planning to purchase a new townhome in a high demand suburb North of Austin, Texas with the intention of buying and selling it for a quick flip. 

The townhome is within part of an area that is going to be built out into a large walkable mixed use space which will be a mix of retail/commercial and entertainment called the northline, along with a pond and walking trail built behind it. Also walking distance to light rail which connects to downtown. For those familiar with Austin area it will be something similar to the Domain. We have reserved one of the initial townhome at the presale price (mid 700s) with the option to backout, and they have since been selling them for $40-65,000 higher than our purchase price. Completion will likely be towards end of this year. Our concern is is it a good idea to buy being that it is a townhome, and some speculation is involved? The price is equivalent to a new construction home at the similar square footage, but we believe it will be of value because of where it is being built. What are your opinions about the situation and also the state of the housing market by this fall? Do you think we would be able to sell a townhome for profit at this price point? Thanks for your advice.