All Forum Posts by: Rudy Hernandez

Alexander Parada It's hard to find an alternative to the 20% down especially for rentals. There is hard money lending you can do but that will have with some crazy rates. Furthermore, if you're wanting to do a buy and hold hard money lending may not be an option. One thing that should work is paying the 20% and then doing a cashout refi the next year or two. That would give you all if not most of your money back allowing you to buy another property each year. You may still have to more of your own money but not as much as another 20% for each buy. As you scale up, the less additional money from your own pocket you will need. You can just cashout and use rental profits to buy another and another.

William S. I am but not at such high value. I like minimal to some repair and may consider a major one if the numbers look good. I tend to stay at $135k max.

Bryan Pham Welcome to BP! Ive lived in Houston for 11 years now, having moved here from New York. I have seen areas grow rapidly and steadily but they all have something in common, growth. I believe Houston and Dallas area to be strong areas for rental. The biggest takeaway from my experience in the Houston market is rental cash flow/ rent. Usually people use the 1-2% rule of thumb to determine cash flow. I find that in a B class neighborhood you will get 1% most of the time, you may get higher in C CMAs neighborhoods. I stay with in B and above due to surround highly rated schools, restaurants, etc. around the home. And more importantly, the type of renters I encounter are better. Hopefully the above is enough initial information to get you started and motivated to look into Houston area for investment. Best wishes!

@Account Closed

Thank you for the recommendation.  Greatly appreciated.  

Hi BP members I am building my team for my real estate business and part of that team includes a CPA. In particular a CPA that understands real estate and the tax benefits one can get. Does anyone know or partner with a real estate CPA to do taxes? Look forward to your feedback.

Hi BP members Does anyone know or partner with a current contractor in the Spring / Conroe TX area? In particular, I am looking for flooring but would be interested in a company that can manage other projects. One that is trust worthy and understands how to work with an investor. Look forward to your feedback.

Hi BP members Does anyone use any particular method to remind renters of rent? For example, do you text, call, send a letter, email, etc. my renters have been pretty tech savvy as of let so I'm just curios to prepare for the future if any renter prefers a different method than what I am doing today. What are you all doing?

Hi BP members In case I missed a post, is there any upcoming BP meet ups coming up?

Kassie Carrell welcome to the BP world and best wishes on your new journey. First and foremost you should applaud yourself for wat you have accomplished thus far. Put simply you took action. Whether you're a single mom or dad, taking action seems to be the missing piece to any puzzle and you found it. As far as what to do, I think you've answered your own question. But let me start by saying everyone has their own taste for different options in real estate so take all opinions and turn it into your own. My taste is buy and hold SFH properties. What it sounds like you did was a house hack. So that is one option. Where you buy a fixer upper, live in it, fix it, and sell it at a higher price. For me I'd rather do that than just fix and flip (unless you can do it fast). I say fast because today's market price are high so you'll reap the benefits. For longer fix and flips I'm not a fan of because with fix and flip you're playing the market. In other words, you're hoping that with the house you bought and the money you put into it will be far less than what it can sell for at the tile you sell it. Hence why I prefer buy and hold SFH. The second option, could be a buy and hold property. In your situation, I would lean towards something easy to fix and doesn't require major repairs that way you can get someone in faster. That's my 2 cents for now. There are more options available but I believe the 2 above are the instant wins you can generate. Best of luck to you. See you at the top.

Hi BP members Does anyone know of good contractors in the Spring/Conroe area? I'm looking for someone who is skilled in flooring, bathroom remodel, etc. (inside property projects. Someone trustworthy and does not price gauge. I know you get what you pay for. But I'm looking for someone who has worked with investors and understands a long term partnership not instant grand profits. Appreciate any references.