All Forum Posts by: Andrew Allen

Suneel even considering the taxes it’s quite a stretch to conclude that rent houses in Texas aren’t good investments...

They’re not taxed differently. It’s just that the tax appraisal on a homestead can only be increased by 10% a year. That doesn’t apply to rentals. If you have a home that’s appreciated for 5-10 years as a homestead, the taxes could go up significantly as soon as that exemption is removed. This can also be a trap for investors...you can’t look at what a homeowner is paying in taxes because the taxes will potentially go up a ton as soon as you buy it.

We've used Noe Corona. I can give you him number if you PM me

I agree with Kenny. Look at so many deals that you know a great one instantly. Then you’ll have the insights and confidence to act immediately.

Is the house your primary residence? You cannot get a line-of-credit on investment properties in Texas.

If it is your primary residence, I'd get the HELOC unless you think you're going to buy something else soon. Otherwise, you're paying interest on $50k that's just sitting in the bank. With a HELOC, you have it in your back pocket and don't pay any interest until you find a deal.

I’d go to work for one of the big wholesaler companies in town and learn from them before you go solo

Just saw this news in my Facebook feed. TLDR: the wise city council has moved on from solving global warming by banning plastic grocery bags and is now on a mission to protect innocent homeowners from you predatory investors. 

http://www.kxan.com/news/local/austin/city-moves-t...

@Cam Jimmy PM'ed you his contact information.

Another con to be aware of is regulatory risk. City council seems to have all kinds of “great” ideas.

I’m acquaintances with Ryan Larson. Do you want me to put you in touch?