All Forum Posts by: Saberian Younger

@Kyle Keller

Everything you said is correct. I actually had to sue drug dealers because the neighboring landlord couldn’t evict them no matter how hard he tried.

These meth heads were scaring the entire community of residents and were doing nothing but working the system.

There really wasn’t any teeth to my lawsuit but fortunately they were to dumb to figure it out and it scared them.

I’m not sure when landlords became the bad guy but this just seems like a big mistake. We’ve all put a lot on the line just to get to where we are today as landlords and we are providing an invaluable service to society.

I’m proud to create homes for people but if I had to I’d sell in a heartbeat and move on to the next income producing asset.

Also, It doesn’t mean that the money is not owed. You may not be able to evict or collect today but they’ll still owe you when it’s all said and done.

I’ve been fortunate so far but if I was put into that position I’ve got enough capital to chase a tenant around in a civil suit for the rest of their lives.

Hey @Jerry Wang! Round Rock is home to Dell computers, three large hospitals and multiple other businesses. 

It is the northern neighbor of Austin/Travis county geographically and many people commute to and from. The county it’s in is Williamson county and it’s very close to Austin. Depending on traffic, I can get to Round Rock from my house in DT Austin in 20-25 min or so. 

It is not overbuilt as there is still tons of buildable land. As a matter of fact, Williamson county is projected to pass the Austin/Travis county population by 2023. 

Hi Daniel! You'll find some here do LLC's while others do sole proprietorship. I've met with several RE attorney's about which is right for me. I'm a small time investor such as yourself. Both attorneys in a nut shell said this... If you're lucky an LLC will separate your personal assets and other investments from the investment property should someone sue you. However, that's not always even the case.

If someone falls off your roof an insurance policy starts paying immediately while an LLC just sits there. Up to 5 or 6 houses you can get a very affordable "umbrella policy" which will cover everything in your life up to several million. It's cheap too like $300-400/year cheap.

LLC's can also be expensive and complicated for a number of reasons. There are fees associated with them every year, they are more complicated for tax purposes and it's much harder to pull money out of LLC's then properties in your own name.

But don't get me wrong, I'm sure there's attorney's that would love to charge you to write LLC's for you. It's just not necessary though... There are no tax benefits for an LLC that are not there for a sole proprietorship as they are both "pass-through entities."

Hope that helps some. 

@Surendra Chawla I just sent you a PM and happy to help 

I'm with @Neil Narayan in recommending Max Leaman. His process was very streamlined and if anyone can get it done in Austin it's him. 

Make sure you go to an insurance "broker". My guy is Scott Reed of Reeds Insurance in Austin. He covers 9 or so properties for me. 

I use Max Leahman for all of my lending needs! I can’t recommend him and his team high enough. I’ve used multiple lenders throughout the years and he is second to none. 

@Tim Kyle

I wouldn't be afraid of this house. The drywall probably needs several coats of primer/killz and you'll probably have to rip up the carpet if there is any. Next use an ozone machine. You can by them for a couple hundred bucks on amazon. It's what major hotel chains use for hard to get out odors. It basically takes the oxygen out of the air, drywall ect. With strong odors you may also need to roll the slab with killz, for dog urine ect. Then replace the flooring. I would not promote as a smoker rental though.