All Forum Posts by: Steven Wesolowski

There is nothing to be ashamed about listening to Dave Ramsey. Dave is an experienced real estate investor and shares great advice about budgeting. When I used to sell life insurance, I had fellow agents despise him, yet couldn't get myself on the bandwagon because he does a phenomenal job of getting through to listeners about expense analysis and the importance of understanding your needs OVER your wants. You can desire all day long what you want, but you must develop discipline in taking care of what you need first. I'd say in financial planning, a good 85% of what he preaches is spot on, and 15% you can debate about it (for example, he discourages life insurance products, but doesn't disclose about every single type of life insurance product that is out there). There are tons of creative assets yu can develop from time to time, and real estate is a key asset everyone should pursue and have regardless of the times. The most important thing is you listen and apply what you feel is best for yourself. Hope this somewhat helps. 

For create a financing, investor loans. What are creative examples of how one can structure his or her LLC in order to get desired loans?

 In San Antonio, Texas, I can tell you that the minimum rate of return you should anticipate for your first single family home flip right now is around 20%.  The average price for most single family homes down here is $250k, with average renovation expenses around $50k. The average time to flip a home is 6 months --again averages, but with a solid network and referral partner you can find incredible deals that are far less price than $250k (like $70 - $90k) and average profit potentials over double from the 20% average example, pending on extra hands provided for your daily research. Let me know if you need examples of off-market inventory down here in San Antonio anytime.

San Antonio, TX. DM me for a more qualitative report I can refer you to. Several things in Florida that are comparable, too. 

San Antonio, Texas. DM me for more qualitative report I can refer you to.

Hire out the lawn service. Now, if you and your tenants have a mutual understanding and good relationship (they appreciate you as their landlord and they agree the lawn needs a cut), then ask and see if they would be willing to cut it. If they're like, "gee willickers, cutting grass makes my skin rash" or "I am unable to due t o my medical condition" or whatever their reason, just hire a lawn service. If lawn care expense was not covered in the rental agreement, then you need to just go ahead and either do it yourself or hire a lawn service if you are not going to do it. Don't add more to what the tenant is already doing for you with their rental payments. 

Welcome to San Antonio!

I am going to this tomorrow during lunch: 

https://www.meetup.com/businessreferrals/events/296878111/rs...

And then tomorrow night, a cool place:

https://www.meetup.com/hey-let-s-do-cool-stuff-together/even...

DM me, let's connect, so that I may be able to help you. -Steve

Mike, dm me.

While yes, rental rates correlate to our nation's inflation (hence housing is a major component of the CPI), it does not mean that rentals are becoming unrealistic. Down here in San Antonio, TX,(of course, the cheapest major city market in Texas right now), we're finding a lot of buy/hold investors leaning towards heavier discounted off-market properties since demands to sell remain constant. Buyers have been able to off-set rental difference in the multifamily units, so that they're still attracting longer term tenants. Although not a frequent occurrence across the entire city, It's been nothing but good news for renters looking to find affordable housing despite rising interest rates. So, they're out there. Multifamily investors will continue to grapple with how to increase affordable housing in the face of rising rents, but property, rehab, and rent remain crucial to the success of any multifamily investment.

Matt! --100% yes! You and your wife will LOVE Texas! Congrats on your equity! So you've got a couple courses of action. Also, have you spoken with a financial advisor or a CPA to help max our your decisions? Definitely talk with a CPA in Boston, or let me know if you need a Texas one. If you need a new financial advisor or CFP, I got a Texas one too for ya.

I do know that If you decide to sell your home in Boston before the move, you'll avoid paying capital gains tax IF you reinvest your sales proceeds into your new home within 2 years. If you and wife decide to downsize to a smaller, easily affordable home down here, you'll definitely be freeing up more money, plus Texas as no state income tax!
Just things to keep in mind if you're planning to get rid of your Boston home --prepare to pay real estate commissions and other closing costs on both sale&purchase of the home. Pending your current market, you may even need to sell your home less than you would like in order to move quickly.

With the HELOC option, you can keep your home in Boston as a continued investment rental/access equity without selling, then build quickly with your HELOC funds to purchase your Texas investment properties immediately. Hope this helps.

Should you pull the trigger on whatever you choose, welcome to Texas! Your quality of life should skyrocket.