All Forum Posts by: Robby Sanchez
Robby Sanchez has started 24 posts and replied 108 times.
Post: Clarksville, TN rental comps/ multifamly homes
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Account Closed:
Bought a multi fam home in Jan, wanting to know what’s the best rental prices right now for 3bd 2 bth 1205SQFT duplex.
Also, I’ll be living in one side for a year then go find another. Should I wait?
Check zillow,redfin for comps. Filter out units like yours. Agents also can help with comps and I think BP has a rental calculator as well. I own a SF in hopkinsville that I bought when I was stationed in Fort Campbell. I think that's an over all good area to invest in. Good luck!
Post: Series LLC vs LLC
- Inspector
- Austin, TX
- Posts 109
- Votes 40
@Natasha Onochie yeah, probably something ill end up doing.
Post: Series LLC vs LLC
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Natasha Onochie:
Hey BP Community!
Super excited — I just closed on my first investment property (in Mexico)! I’m still in the process of finding a solid business/tax attorney, but figured I'd ask for some advice here in the meantime.
I've seen a lot of investors recommend setting up a separate LLC for each property. I recently learned about Series LLCs too, and it seems like it could be a better long-term setup for me. I already have an LLC that I formed last year with the goal of using it for real estate investments. Now I'm thinking about converting it into a Series LLC.
When I bought the Mexico property, I purchased it under my personal SSN through a fideicomiso, as required under Mexican law. Now I'm wondering — should I transfer the ownership into my LLC? And if so, what's the best way to structure that (especially with the international piece involved)?
Would really appreciate any advice, experience, or things to watch out for!
Yeah im also curious. From what I understand, putting your property in an LLC is always recommended due to asset protection if you were to get sued, they wouldnt be able to touch the property in most cases. I think it depends on the amount of risk you're ok with in the end. I own a duplex and a SF and both are under my name. I've thought about putting them into an LLC but I just don't think its practical financially for me. LLC cost money and effort to keep active- yearly fees, registered agent fees if you decide to use one and then there's all the paperwork that has to be done every year-income reports, state requirements etc. But there are benefits as well. Just a matter of weighing the pros and deciding if its something you want to do. When I buy my next property ill probably place all 3 under a series LLC but right now im comfortable with the risk.
Post: Reonomy for direct to seller campaign
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Stephen Morales:
Quote from @Robby Sanchez:
Has anyone had experience using reonomy for mailing campaigns? I am thinking about trying it out to start a mailing campaign that will target MF owners. They require a year commitment though so I wanted to see if anyone had anything to say about their experience with the software before I made the purchase. TIA!
Are you just needing the mailing address info that you can export into a list or do you need the platform to also send the mailers for you?
Planned to use ballpoint marketing for the sending of the mail.
Post: Reonomy for direct to seller campaign
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Chris Seveney:
Quote from @Robert Hill:
Hey Robby you get capped at 1000 exports a month with Reonomy just so you know. You also have to buy the annual subscription, you can't do monthly payments Reonomy has some of the best skip tracing software for the phone numbers in my experience. Some similar options are Crexi Intelligence or a software like Propstream and then skip trace the addresses with a skip tracer. Check out Henry Eisenstein's videos on youtube about reonomy they're pretty helpful.
Reonomy is commercial only correct? Also any idea on the cost?
$380 per month! And they only do yearly subscriptions
Post: Reonomy for direct to seller campaign
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Frank DiZenzo:
Are you wanting to use Reonomy as a data source to filter for the types of properties you're targeting, or do they offer a service that will allow you to direct mail as well?
If you're just looking to create a list to start with, I'd be happy to help out - just let me know what your criteria are and I can send you a filtered datasheet.
Post: Reonomy for direct to seller campaign
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Has anyone had experience using reonomy for mailing campaigns? I am thinking about trying it out to start a mailing campaign that will target MF owners. They require a year commitment though so I wanted to see if anyone had anything to say about their experience with the software before I made the purchase. TIA!
Post: Needing Advice on Commercial Project
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Melissa Odom:
Hi BP Community,
I have a small family-owned shopping center in Wimberley, Texas. It is in a perfect location (off the square) in a very popular tourist town outside Austin, Texas. The problem is the buildings are in major need of repair...and because of this, rents are one of the lowest in town. Speaking to a contractor, just to remodel 3 of the 8 buildings could cost around $750,000. To rebuild would not be all that much more due to the work that needs to be done. The lot is 0.25 of an acre.
Some thoughts that go through my head......
Who do you contact to get current values, after renovation values to see if this process is even worth it? How do you get accurate numbers to determine ROI? I have ideas of the values, but nothing based on anything concrete.
If I take out a construction loan, how do I pay for the construction loan during the process? I won't see any rents or income until after the construction phase is completed.
If we do a full rebuild, are retail shops the most profitable? There is one upstairs apartment that can be turned into a str. Should I add one or two more? Or should I consider the possibility of adding in a small restaurant? What gives you more bang for your buck? Which ones will still deliver in a down market? Or should I create a combination of all three?
As I start down one path, I have more questions which leads me down other paths with even more questions.
Any advice is greatly appreciated. I have 3 long term rentals, but this is my first time with commercial property. The property is mine and my brother's inheritance so I am looking at it as a long term investment.
Thanks for your time and help,
Melissa
Post: Introduction to Bigger Pockets from Austin, TX
- Inspector
- Austin, TX
- Posts 109
- Votes 40
Quote from @Mike Weigel:
Hello Bigger Pockets community. I'm an investor in the Austin, TX area and I'm here to build relationships and work on deals. I currently have a rental property and am looking at getting my real estate license and building a property management and property maintenance company to serve my investments and potentially others.
welcome mike! Happy to meet for lunch sometime and talk about how we can help each other! Reach out if you ever need anything! I'm in round rock
Post: Inspection: What to check for duplex
- Inspector
- Austin, TX
- Posts 109
- Votes 40
hopefully your inspection went well. wish i would have seen your post earlier i would have been happy to help you out with your inspection. but to answer your question, there really isn't anything you need to "ask" your inspector to look for. if he is a good inspector he will know what to look for and what defects are major and should be addressed immediately and which defects are minor. DM me if you need someone to take a second look!