All Forum Posts by: Poem Turner

As with so many investment questions - it depends. It will take longer to see appreciation on the newer home; builders are still building and holding the prices down. Rent rates can vary from neighborhood to neighborhood and school to school. Just because the ISD is rated higher, not every school is rated highly. Returns will vary based on HOA and tax rates as well. And there are neighborhoods in Leander that rent very well where you can get a new home for $260s. All three areas are excellent, I would choose based on numbers for each specific house.

@Anna Shan It sounds like your broker isn't really working for you. Knowing nothing about your market, if you think your property should have moved by now, definitely interview others. I do know commercial properties often take months to located and then finalize tenants, but communication shouldn't be that infrequent. They should be updating you regularly and sharing how they are marketing the property and what market conditions are. Be sure to fill out and send a termination of agency before you sign with a new broker. Best of luck!

Rules are out the window. Let's have a virtual meetup and discuss trends, best practices and suggestions for navigating the world of real estate investment during the COVID-19 pandemic.

And it's not all bad news! There are lessons to learn and opportunities on the horizon.

I'll be sharing information about the market and where it seems to be heading, landlording, accessing capital, and other topics. Let me know ahead of time what you have questions on. And I'd love to hear what you all are experiencing as well, so please show up prepared to share.

Zoom ID - 828-6261-5538
Zoom password - 271207

If you haven't used zoom yet and want a primer, let me know.

RSVP here or on MeetUp

@Darshil Parikh Great question you bring up. I think there are a few answers to your question. I35 has been a major use corridor for a long time (connecting RR to Austin) while 183 north of Austin has been effectively a country road (connecting 183 to Austin) until the last 4-5 years. 183 has been significantly improved and the metrorail coming in from Leader/CP makes it easier for folks to commute from the NW side of Austin.

@Mike Solak Love your research, I also use that site, and it's great for raw numbers. As you understand the communities better you'll see some interesting underlying concepts though. Round Rock has it's own economy due to Dell, Samsung, and a number of tourism opportunities: Dell Diamond, soon-to-be Kalahari (largest indoor water park and convention center in the US), sports complex). Leander does not necessarily have their own, but relies extensively on Austin.

As far as growth and appreciation, it's easier to look like there's a boom when there wasn't much there before (Leander). The sales data I have via title companies reflects similar rates of appreciation in both areas.

@Romil S. You have some great responses here. I would echo what many have said that there is no "one house fits all" approach in terms of yard, stories or bedroom locations. Both are in great proximity to jobs at every tier. In general property taxes (which can be considerable here since we don't have a state income tax) will be lower in RR than Leander and you're more likely to find lower cost or non-HOA properties in RR. I would also have to say that you can find cash flowing rentals both places for 20-25% down, but they certainly aren't falling from the sky; an asking price is just an asking price and you need to be able to act very quickly when the right one comes available so get a pre-approval from a lender before you start looking seriously.

Brick and stone are preferred facade materials for heat reflection and wind resistance. They're more expensive as a building material, but less expensive to insure.

Welcome @Gina Musachia! Between the forums, podcasts and books alone, you can find info, help and support on any aspect of real estate investing; for much less than a paid program! Many of the top posters, moderators and podcast guests have published their own books or blogs and those are another great place to pursue topics of particular interest to you. Good luck and let us know if we can point you in a specific direction!

@Mark Sewell Maybe suggest she check out this

https://www.meetup.com/The-Real-Estate-InvestHER-Meetup-Austin-TX/

specifically for women :-) There will be lots of other "27 year olds" there who will encourage her that it's a great plan!

How To Use Forced Sale Leads To Buy Properties, and Get listings

Aaron Amuchastegui is the CEO of Roddy's Foreclosure Listing Service and has bought and sold more than 1,000 houses by buying houses on the courthouse steps. Aaron will share his story about how he built his business from 1 deal a month to 30 deals a month, how he grew the business, then lost it all and then restarted building a rental portfolio instead of flips.

He uses Forced Sale Leads like probate, bankruptcies, vacant house lists, lien lists, and foreclosure lists to buy houses before and during auction. Aaron will discuss ways to analyze and get the deal.

https://www.aaronamuchastegui.com/

There will be time afterwards for Q&A and networking. Bring your questions and your cards.

I didn't see that. Thanks for sharing!

@Austin Bright - In Texas, if the seller has an inspection report, received or purchased by them, within the last four years, they are required to share it with any prospective buyers. If the previous would-be buyers shared their inspection report or information regarding any major issues or repairs needed on the duplex, the sellers are required to disclose that information to you. In practice, this is very difficult to enforce, and comes down to honesty, transparency and ethics. But you and your agent would be perfectly reasonable to request one from the seller. And if your agent is unaware of this or doesn't want to ask, consider finding another agent in your area who can help act in your best interest.

Do you have a lender yet who you've discussed 203k renovation loans with? They do sound good, but can be challenging. First of all you have to outsource the work, you can't do it yourself. They don't cover structural corrections (foundation, etc). You are limited in the number of contractors you can hire (not usually an issue if you vet your hires). There are different allowances for the FHA 203(k) and the standard 203(k) and the VA 203(k) - some allow appliances, some allow fences, some require a HUD consultant.

If you want a recommendation for a lender who handles these loans, let me know. The folks at SWBC will come alongside you throughout the renovation process and have a database of contractors they've already vetted and approved.

Regarding appraisals, most 203(k) lenders will appraise based on the ARV of the property, so that at least works in your favor :-)

Good luck!