All Forum Posts by: Erin Deann Martin

@Kevin Moules - I'm interested in investing all across Texas. :)  We have family members in Lubbock and have lived there previously (15 years ago?), so familiarity with the market was a factor for us in getting properties there. Austin is fantastic for appreciation and projected growth, but its a hot and very competitive market - and difficult to find cash-flow. We're long-term, buy-and-hold driven, so ideally we want a mix of both appreciation and cash-flow.  Lubbock is a steady market with more average appreciation but more immediate cash-flow. It's a healthy and diverse economy with projected growth, but its also a city surrounded by open build-able land, which means it doesn't have the same kind of condensed urban core, where scarcity of land drives rapid appreciation like in other major cities. But, its a well-designed city that's easy to navigate, has several economic drivers and many sub-markets.  I hope that helps. 

Hi Kevin!  I recommend you connect with @Jordan Sutherland, @Joan Brown and @Corey Zant. They all live in Lubbock, invest in Lubbock, are plugged in and have experience working with other investors (many of whom are OOS or OO area). Each of them have been invaluable to me in learning about the market and I can wholeheartedly recommend working with any of them. Jordan has helped me identify, purchase, rehab (project manage) and lease my properties in Lubbock - he's worth double his weight in gold. But all of them are fantastic, successful and would be easy to work with. I'd recommend reaching out to Lubbock investors, meeting them in person and seeing who has time in their schedules to work with you. I've also heard great things about working with @Austin Hughes, but I haven't had a chance to meet him in person yet. I think he was getting married the weekend I reached out. :)    Good luck! 

Welcome!  I live and work in Austin as well, but have also chosen to invest elsewhere for better cash flow. 
I have found cash-flowing properties in Lubbock and eventually plan to buy properties along the I-35 corridor as well.  The City of Austin demographer, Ryan Robinson, has produced and publicly shares a lot of interesting data based on census information that outlines all the areas (and demographics) of projected population growth in Austin, esp South Austin all the way to San Antonio over the next 10 years. I'd recommend looking the info on the City of Austin website - its very informative. :) 

Just to add, in my municipality, Oak trees of that age (and/or certain trunk circumference) require special permits to remove or significantly trim down.  Even if you conceded that the tree was diseased (which I'd be suspicious of), you may not be allowed to remove it or make major adjustments to it without asking the city first.  I would find out if the area has rules on protecting heritage trees. If so, often the city has an arborist that they can send out to advise/inspect (for free).  The benefit of this route is that if it applies to your area and situation, its a neutral third party to "blame" keeping the tree. "So sorry, I wish I could help but this tree is protected..."  

I feel your pain, as I'm self-employed as well.  Lenders definitely want to see 2+ years of tax returns for those of us with self-employment income. It helps if you have a spouse/partner or business partner who has a steady W-2 position (I do, which makes things a lot easier).  One thing I have done is provide lenders with meticulous records showing not only my income, but my invoicing and bank statements verifying income.  I also provide a brief/ fact-oriented letter explaining all sources of self-employment income for the previous 2 - 5 years.  In my case, I consult with many clients and lenders always want the start and end dates of each contract, the names/ EINs of each organization (client), total income reported from each client/org at yearrend with corresponding 1099s, etc.  Keep great records!  

I don't think people are taking personal shots. Most replies have been along the lines of "you get what you put in", etc. 

But also, you've insinuated that people who can only afford to live in a C-class property are unworthy of receiving a unit at the same basic level of cleanliness as people who can afford A-class units.  I don't know what your average tenant is like, but there are plenty of extremely hard-working people who have low incomes (single moms, caretakers, people on disability income, people going back to school, etc) who still deserve the dignity and respect of a clean, safe place to live.  If cleaning is too tedious for you (or over your pay grade) then pay someone else to do it (as many posters have suggested) - but you've basically implied that low-dollar tenants aren't worth the ~$100-$200/max to have a unit cleaned prior to showing/move-in.  

That's your call. But others have pointed out that you may be shooting yourself in the foot by 1) turning off better quality tenants, 2) never returning the unit to a deep clean/baseline. 

@Jesse Lewis - of course! :) 

Another thing you could do is join a BP Mastermind group. If you buy the BP Intention Journal, I believe the Mastermind Group access comes with it, free. BP connects you (via the site) to other investors who are roughly in the same stage of investing as you are (newbie vs. investors w/ 1 - 4 properties vs. those who are highly experienced, etc.). It's a great way to connect with people who are likely at the same phase you are and learn from one another/ hold yourself accountable to your goals. It's a way of "networking" that's less about bringing value to a potential "mentor" or partner, and more about learning as a small, focused group and holding one another's feet to the fire on your goals. I think for those who are new to REI, it's a space where its a little easier to be vulnerable about the questions you have or the things you're struggling with without worrying about if its "wasting someone else's time".

I'm not in the San Antonio market, but the advice you have been given on this thread is great. Definitely add some hardware to the kitchen cabinets.  My 0.02 cents is that the bathroom with the kitchen-esque cabinet with the wine rack (?!) is pretty strange looking. Is the idea that people would use the X-shaped cubbies for towels?  If so, I'd roll some towels in there for new pictures to convey the idea....   add a succulent plant or a tray of cookies to your kitchen photos... anything to make it look less generic. Actual staging may help. 

I'm also of the personal opinion that the beige paint / traditional wood-look floor color scheme is a bit dated for flips. HGTV consumers seem to be obsessed with cooler tones (grays, off whites, etc) these days + a couple of "unique" features that make things pop (light fixtures, a whole wood paneled accent wall, etc.). I see you kind of tried to do this with the TV/wood panel thing, but I'm not sure TV frames are in high demand.  

On the plus side, the front door is great, and the architecture of the front of the house is super cute. Seems like other ~$200k homes in the area are staged well. 

@Wes Barnes Absolutely - all three of the people I recommended have responded to this thread: 

@Jordan Sutherland

@Joan Brown and 

@Corey Zant 

They are all RE agents and investors themselves. You can't wrong with any of them so I'd encourage you to PM them and see who has the time to help you move those properties quickly. :)