All Forum Posts by: Sri Chakravarthy

@Andrew Postell Excellent article will bookmark. Thank you!

@Michael H. Hi Michael, yes the home is in Frisco that we live in right now.

@Aaron K. Thank you for the feedback ! Much appreciated Michael and Aaron!

Thanks Aaron. My current SFR is on the lower end of the market $400K and this will be an upgrade for us. What are your thoughts in that market value for rental properties?

Hi BP members,

I live in an SFR right now but have been looking for a home in a nearby community (great schools, neighborhood in North Dallas) where I have a lot of friends in the same community. Recently a home was listed in the same community we are interested to purchase the home, but given the nice neighborhood the price is higher ($700K+). If the new home works out for us, we would also would like to rent ur current home we live in and put it on the market for lease. I spoke to a few property management firms and said that the rental market is "hot" and can lease my home in 30 days (my home is 15 yrs old, also in good neighborhood with great schools 10/10).

Question:  Would it make sense to take the plunge in this volatile market and buy a pre-owned home and rent our existing home? Or should we wait for market to come back to normal (whenever that is) and then look to take the plunge (may or may not have this home in market).

The only reason we are so interested in the neighborhood is that we can live with our friends and for our kids to have company of their age kids in the community and the same great schools. There are only few homes in the small community that come to the market for sale.

We’ve been fighting hard to resist the temptation to go with the home, but also avoid any risks as possible given the current crisis we are all in.

Requesting all experienced investors and home owners to provide some thoughts and advise here!!

Much appreciate it BP team!

Thank you!

Sri

 

@Will Graves

Will,

I'm starting out as well and looking for MFR investments in Dallas area, where I live. As far as MFR education is concerned, I would say you started off well with Brandon's Real Estate Investment book, as the book gives you an overall RE picture very well.

I'm not sure of others on this forum, but off late I have explored some MOOCS such as Udemy for Real Estate education and found the "How to Analyze Multifamily Investment Opportunities" by Simon He  "phenomenal" for the price the course was offered ($9.99 a course when those specials are around and they always do). Course was IMHO extremely thorough and detailed with lot of spreadsheet analysis getting into the weeds of MF investment analysis. DM me if you are interested to learn more about the course and I can share some more feedback if you are interested.

Best,

Sri

Michael,

Thank you so much for the reply. I'm from Dallas and focus is on Frisco, Plano and adjoining areas which have seen tremendous growth in past few years.

Could you expand more what you mean by over leveraged? I guess you are referring to debt, but what thoughts you have in mind when investing with leverage?

Thanks again for the inputs. That helps a lot.

Sri

@Michael Ealy

Michael - thanks for the questions. I have the following:

1)What approach you do start with $100k to invest - SFR, MFR (small units <60 ) vs large units (60>)?

2) What is the #1 thing to NOT do to accomplish in question 1 in your experience?

Thank you!

Sri