All Forum Posts by: Rick Reeder

Thanks y'all.  I'll connect on BP.  @Ryan Davies that's when my daughter is shooting, so we'll miss each other this time.

Hey BP Fam,

I'm going to be in Sandy, Utah Friday & Saturday of this week for the NASP Archery Western Nationals (my daughter is a middle school archer).  While I'm there, I'd love to meet up with an agent or broker from the area and talk about being referral partners.  I'm based in Austin, TX and don't have anyone to refer folks to who might look in SLC or Park City.  I'll buy the coffee!  Message me if you have some time and can meet in the Sandy area. -RR

The Austin sphere of appreciation keeps getting bigger and bigger!  5 years ago places like Lockhart, Taylor and Bastrop weren't really considered suburbs, but they're all booming.  Amazing run since 2008 (and even that was just a blip in this market).

I own two STRs through partnerships, and everyone is very happy.  The key, IMHO, is to do the hard work up front laying out the operating agreement and confirm that your goals are 100% aligned.  Do you want to buy and hold for long term passive income or would you like to harvest appreciation in 5 years?  What if someone gets a divorce?  Do you want to use the property occasionally or always have it on the market?  Will you use property management or self-manage?  Who will monitor the finances and/or work with the PM, Etc etc.  If you put everything in writing while you're still friends, you just refer to your agreement when the $hit hits the fan. :-)  

@Steven Natera I've helped a couple of investors find SFH in Killeen that cash flow, but you won't see the appreciation numbers like you do around Austin. So, if cash flow is your goal, that's one option. I've heard good things about San Antonio on here as well, but have no direct experience. Good luck!

I recommend @Mitchell Zoll as well!  Congrats on your growing business!

I agree with @Chris Webb, and I would add that you should find yourself a great lender to work with. They can tell you exactly how much you could borrow right now and what down payment you'd need to have available to move on the next property.  Don't guess or assume - find out! 

Hi @Steve Crim. I am an agent in Austin and I own an STR on Lake LBJ. It's performing very well. Projecting a 7%+ CAP this year. I posted this article a couple months back. I haven't looked around Houston, so I can't compare for you, but I work with an STR property management company that can help.

https://www.biggerpockets.com/...

Hey Sam, I'm not a tax expert, but I am an agent and an investment property owner in Austin and surrounding areas. As far as your valuation, Texas is a non-disclosure state, so in theory the county tax assessor shouldn't have the information about what you paid... but in my experience they get pretty close. If they assess you for an amount higher than you paid, then you can produce your closing HUD statement and they will drop your valuation to what you actually paid. They will send you a letter asking you what you paid, but you can ignore that.

Since it is not your primary residence, they can raise your valuation by any amount they see fit.  The 10% YoY cap applies to primary residences only (homestead exemption).  You can protest your valuation or hire a company like Five Stone to protest on your behalf.  I recommend you do that every single year.  

If you're working with an agent here, they can help you determine the tax rates - they vary block by block.  I've seen anything from 1.6% in unincorporated Travis County to nearly 3% in areas with special utility assessments, etc.  Good luck!

I know Elizabeth at https://www.pollenarchitecture... happy to connect you.