All Forum Posts by: Stephen Stokes

@Jaron Walling interested to see what data is showing these findings. Do you mind to share a link?

I am working this area right now and already own one SFR in the area. Feel free to connect with me directly and can share more information.

@Aaron Ingram check out our responses in this thread

https://www.biggerpockets.com/topics/964430

@Francisco Lara I also suggest going early to mid week and to the store nearest where your job site will be. What you are looking for is contractors that are picking up materials early so that they are on the job during the day not wasting time at the supply store. If they are showing up to pick up materials at 7:30 or after they probably won’t start working until 9 or after. That type of behavior pattern shows a lack of planning and hard work ethic.

@Francisco Lara bring 2 pots of coffee and go to the Home Depot contractor entrance at 6am and collect cards/contact details while handing out free coffee to contractors.

@Damian Chavero the name of the game is to put as little as possible in all circumstances. The returns on the property will always be the same (nominator) but the amount invested into the property will fluctuate (denominator). ROI= return/investment. Lower investment on same return is always a higher ROI.

@Ben Gradert have you considered selling on owner finance terms? Consult your CPA, but that path has potential tax deferral benefits as well.

@Joe Scaparra I am closing on one this week. They are certainly not easy to find, have to put in the work to make this business successful. Market cycle position determines how much work we have to do to find deals. If market is soft, easy to buy on market deals and see cash flow quickly. That's not where we are today. I will be a willing buyer of MLS properties once the next crises comes.

@Tyler Harrel have you considered offering seller financing? You will typically get higher than market price as well as spread out the tax impact over a longer period of time.

@Joe Scaparra @Joe Scaparra I will challenge the statement that OP cannot find cash flowing property with 0% down VA…just have to find your deals the right way! Off market sellers that I look for are under some situation of distress be it the seller or the property itself. To solve their problem, we as investors are rewarded by buying at a significant discount to what retail buyers would pay. This is why I am consistently saying that any "investor" buying properties in Austin proper off the MLS is likely set up for losses (cash flow or other) for at least the short to medium term. Long term, as @Aaron Gordy points out, there are a ton of positives to investing in Austin.