All Forum Posts by: Obed Calixte

"Through photography I have a few local connections I know that are doing deals and moving properties consistently."

That's your answer. Leverage your connections that are doing what you want to do. Bring them deals and partner with or shadow them. 

Also get involved in the local REI meetups.

There's been a few Houston developers on Biggerpockets podcast episodes.

One that comes to mind is Donovan Adesoro. 

Do your own due diligence and research however. 

Based on what you shared, your current residence is already a great jump start to building wealth. Safely leverage the equity and find a separate investment property. 

If you havent already, run scenarios with your lender to get an idea of upfront & monthly costs for getting a heloc vs selling and then purchasing a MF as a primary. 

Heard. That's easy enough.

I have a few that I've personally used and/or worked with for years that I can recommend, if you'd like.

Get tapped into the REI meetups! There's quite a few in the area.

Is there a specific reason you want a DFW based lender?

Very unlikely to happen. But assuming you managed to pull this off - What value are you bringing?  

10K back at closing is wonderful! glad to hear of the deal. May it be a blessing to you and yours.

We don't have any information on the property itself so I'll share a few things:

-Furnished rentals in Tampa Bay are best aligned with short to medium term tenancy. Not to say you cant find a long term tenant but you are fighting an uphill battle. 

-As the unit size/room count increases, the pool of those looking for furnished rentals decreases. If it's a larger home, you may end up in a co-living situation.

-Location matters (as always). Proximity to transit/jobs (hospitals/construction/schools)/entertainment (downtown/beaches/restaurants) factor heavily.

Some questions to consider:

Is your property in alignment with the long term rental strategy?

Where are you marketing the property? Is it solely on furnished finder or are you leveraging other sites? Do you have quality pictures and sufficient furniture?

Lastly, in response to your questions:

 OOS landlords tend to have a property manager (whether a dedicated PM office or an individual) that work on either a flat fee or % of rents collected. It could be an agent but generally it's a property management company.

You're already talking to realtors , property mgrs, owners and so forth in the forums...

No true professional will hold it against you that you are green. Heck, they will be happy to impart their knowledge upon you.

If the PM you mentioned is who you said he is, have a chat with him sooner than later.  Compensate him for his time.  Get his thoughts on what makes for a solid property in the area as well as what makes for a good operator (in his opinion).