All Forum Posts by: Jasmine H.

@Joe S. Yes, here in Texas, it will increase the value.

@Austin Jones look for comparables using zillow, apartments.com and other sites with rental info. For one of ours, my former PM recommended $1,200. After further research, I thought it was too low so we listed for $1,350. Ended up renting for $1,295.

@Ali Al-Khafaji we moved from DMV to Houston in 2021 to grow our investments and take advantage of the lower cost of living (though not that low anymore). It's a great place to invest. There's so much development going on in the area and with folks moving here from others countries, I think the opportunities will continue. Recommend avoiding flood zones as they'll eat into your profit.

@Minna Reid interest rates are going up and inventory is sitting on the market longer, at least in houston. Not to mention pice cuts are happening all during hot market months.

Now what?

I'm a worried the folks up top will bring back the moratorium during layoffs. We bought a primary residence in north houston back in oct and paid $35k above asking. An agent we spoke with today said she confident she can list it $75k over what we paid with a potential of multiple offers. I'm thinking of selling because i don't feel comfortable keeping it because I'm worried about our rental properties.

@Destiny Hodges whatever you do, don't go with RPM in Willowbrook. I had a good experience with them during the first few months but they transferred me to a different account manager and it went downhill from there. They we're trying to charge me $650 without my approval for lawn maintenance that didn't even exist. I have my own landscaper for a very small area in the front which I've already mentioned to them and the tenants also maintain their own yard. The pm ended up lowering the expense right below my approval threshold to get away with charging it to me. They also attempted on two occasions to overcharge me on renewals and that was my last straw. I gave them notice and have no regrets.

@Jasper Zimmerman no it is not normal at least not for me, especially for that square footage. We unfortunately had to let go of one of our PMs due to unreasonable quotes and the issues they were quoting for weren't even problems to begin with. I suggest getting a friend who may live near the property or getting out there yourself to take a peak and see what really needs to be done. Sometimes a nice cleaning does the trick.

@Stephanie P.

Hi Stephanie,

I am interested in purchasing a mfh 10+ units. I have several properties and am thinking to 1031 exchange one and do a cash out refi on another but i'm not sure how much i would need for a downpayment. I'm looking at properties in the $800k-$1.5m range.

Any advice or input is greatly appreciated!

Regards,

Jasmine

@AJ Anderson congrats on doing refi! I recommend buying a 4plex with it. You can find some in TX, AZ, and some other states for around $500k just be patient. It took me 4 month to locate a property and i jumped on it in 2 days. We recently refi'd and house hacked putting that cash in for the downpayment. The rent of the 3 units pays for the mortgage allowing us to live free. Should we decide to move out we'll have about $800-$1000 cash flow after we rent the 4th unit. It costed us about $250 a month on the refi. It was worth it for us and i would do it again in the future if i could.

@Mike Schorah honestly i felt i got more out of the episode with Ken McElroy than the one with Kiyosaki.

This is good news! No more COVID eviction protection. I hope everyone suffering can finally find a path forward. Feel free to share your plan of attack/what your goals are moving forward. Please, no politically charged comments.