All Forum Posts by: Account Closed

Hello Everyone, 

I wanted to come here for some advice. Currently I am living in a one bedroom apartment that I am renting for $1100 in Austin near my job in the south. My wife works in in the Round Rock. I own a house an hour away that is free and clear excluding tax and insurance. I am renting this out right now to my mother in law for $700 a month. My thinking is to move back to the house and start saving, paying off credits, and planning to invest in that city. The drive would be easier for my wife but tougher for me which I don't mind, but I wanted to see if this would be wise. Of course I know living in the house wont exactly be free, but I am not having to pay rent for it. My mother in law doesn't mind moving either. 

This was my idea: Using my house as like a central hub and then branching out by saving enough to put 20% down on duplexes and Triplexes after I have cleared my debts and increased my credit. Let me know what you think.

I would like to find a partner in Killeen, TX who would join me in investing in property there. Thank you.

I feel somewhat confused. I don't want a normal job like every other student there. Whenever I am in class I see people scraping by memorizing things, polishing their resumes, and asking what an employer looks for, but for me I just want to start my own business and be with my family and travel. Has anyone gone through this and wondered the same things?

@John Thedford I am reading "The Millionaire Real Estate Investor" right now and thank you for suggesting it. It's really great. I will read hold next, but do you have any other book suggestions or advice as well? Thanks!

Thank you everyone. It is great to be here with you. I hope to learn a lot.

Thank you both for your input.

Does anyone have any suggestions for a good property management company in Killeen, TX?

Thanks @Jonathan Ramos I will check this out.

What is an LLC used for in real estate and should I create one?

In my honest opinion. I don't want to work out the maths, but I will say this. I am working full time and collecting rent from a house that is now free and clear. Not only does it boost my income substantially, but I am able to save a lot more a month and will soon be putting down for a new house soon. Not to mention in one year I could pay off all my liabilities which will allow me to save even more. I think LLC's help but that is yet to be determined and something I will be researching about within the week.