All Forum Posts by: Santiago Flores-Alvarez

Hi @Kimberly Caraway were you able to find a multifamily builder in DFW? I would also be interested as it may be easier to build than buy multifamily currently on the market?

Thanks a lot everyone! Very helpful to me and I'm sure others with the same question!

Hello everyone!

I constantly hear and read of investors making all cash offers. However, I'm confused if it's actually that these investors have all that cash saved up or are they using some type of loan? How is it that this seems to be a widely used strategy for negotiating yet having enough cash on hand to buy a home is difficult. Perhaps there are certain loans or other methods people use to allow them to make cash offers without themselves having the cash? Any insight is much appreciated!

Hello fellow Fort Worth family. Anybody know of any local Real estate investing meetups in/around FW?

Thanks!

Hey @Brenden Mitchum thanks a lot for responding and helping out. I really appreciate it! I decided to rent the whole house and have it managed by a property management company. Thanks!!

Hello everyone! I'm thinking of one of the below options but am not sure which is better from both a financial perspective and an ease of management perspective. For background, I currently live in a 3 bed 2 bath home and my mortgage is $1,800 per month.

1. House hack by renting out the two vacant rooms for $800 each, thus leaving me with a $200 monthly mortgage payment.

2. Rent out the entire house for $2,000.

The goal is to have the loan be paid down by a renter for my current home so that I can move onto my second home and buy it as owner occupied and house hack that one. My hesitation with #1 is that renting a house out by the rooms could be a headache from a management perspective when I move out and into my next home...especially with the possibility of different timings in the lease contracts for each room. However, once I move out I can rent all three rooms in the house by the room and make up to $2,400. Or I can go with option 2 and possibly make $2,000 but probably easier to manage than three different renters in the same home. I really appreciate the help! Thanks!

Hello everyone, thanks for the help! I currently live in my house with two spare bedrooms. I could house hack and rent out the other two bedrooms for approximately $700-$800 each. My mortgage is currently $1,800. OR, I could rent the entire house for about $2,000-$2,200 and move out. I would then live with a friend for about $700 per month for a few months until I find my next home to purchase and then once purchased, I can house hack that one assuming the bank will consider income from my rented house. Thoughts? I really appreciate it!