All Forum Posts by: Sal Zafar

Great feed backs All. I was curious if folks use other commercial vendors ike BMC etc. it seems like end of the day, either Lowes or HD are the winners. 

Hi wanted to ask if there is any preference for major rehab - which one is better Lowes or Home depot. Spending about $10k for small rehab. Or, is there any other place where we can get cost effective materials. 

Thanks
Sal 

thanks all for the feedback. Like in Austin during SXSW, musical festival, F1, just plain relaxing close to lake are few good points to stay in STR. Specially, since this cottage type house is block and hald from Lake Travis. I cross check with HomeAway and I see quite a few available on the site in my neighborhood which tells me there is a demand for it. But yes, as you all mentioned keeping-up cost is always be there.

couple more things-- For STR (or weekend tenants as HomeAway offers), do you all keep cleaning crew (like maid) services, every time weekend renter leave? professionally done?

Also, i got to know that house has some foundation issue, like sagging from one side with normal cracks. Nothing major just settle because of the age of the house. Recommendation was to put lipstick on and it's ready to rent. I personally, like the idea, since it's not impacting or hurting anyone. any suggestion there?  

Thanks

Hi All - I always wonder. Which one is better in terms of profit, putting house in Short-term and vacation rental or traditional long term tenant? I know there are few factors involved (if property is leveraged, maintenance etc etc) but in general if property is close to 1/2 a block from Lake (not a direct access), in Austin. Which route is better? I can do both. 
any feedback greatly appreciated. 

@Kathy Henley - my employer doesn't allow it. there must be some loophole around it. 

@Christopher Phillips, yes, i am aware of the loan. it's already in use :). I have a lot in there and even I pay off ALL the penalties I can still put that $$ in works or better use in RE.  

Hi, is there any way to liquidate all or 90% of my 401K in my 40's (don't mind paying penalty), without leaving my current employer, I am already aware of loan, withdraw, transfer to IRA and hardship which have certain limits and not allow to take out all of my contributions. any assistance greatly appreciated. Thanks in advance.

On a side note - my issue is not even getting into "any" buildings. 

I am actively looking in central Texas (Austin + 200 miles minus Killeen) into 24 to 34 (less than 50 units) buildings. Either i found them totally messed up in numbers and condition or on average buildings brokers are not even responding back since they know it'll sell over the price. Waiting for next crash, or dust to settle down.  

Naveen there are lots of houses in Leander, Cedar Park, RR which are still under $200k. (depends what you are looking for). I pass those every day. I don't pay more than $200k for rental properties in the area because of the higher property tax keep taking my profits. 

but property tax on both Williamson and Travis counties are killing the C.F. it's shrinking significantly every year. In some cases since interest rates were record low, monthly P&I+ Insurance payment is same if not close to it. Yes, appreciation may be there, but C.F, not for long.