All Forum Posts by: Sujith C.

Hi,

With Williamson county appraisal for 2022, my rental property tax due increased by 35%!!! I already raised the rents by 16% last year and now this.

Would you think rents will grow to catchup with property tax increases? I am afraid that people would stay away if I increase the rent by 35% and would be difficult to rent it out. If I do not increase, I would be under the water. Suggestions/thoughts?

Thanks

S

Thanks Nick Colamarino for quick reply. What is the best way to get the estimated rehab costs? Get the inspection done and talk to a contractor? Is Angie's list recommended for finding contractors? Thanks Sujith

Hi, I am a newbie and yet to purchase my first rental property. I found a foreclosed duplex for which comparable rents in the area are $800-$1000. Property is about 20yrs old. But looking at the stats my agent sent, income levels in that area average about $30k with mostly construction workers. Purchase price is $70. Leases are signed in 5-30 days when put on market. Can experts here please answer few of my questions? A) Is this a good investment given market price for similar properties is about $185K. I would like to rehab it and buy and hold. B) foundation is block and beam crawl space. Looking at the pictures it might need some repair. Is this kind of foundation advisable for investment? C) Most of the properties on that street look worn out. Is it good I spend a little more and get it attractive or should I just touch it up with required and necessary things and lease it out? Thanks, Sujith

Same here. Any one dealt with homeunion.com recently? There are some post already but they look old. 

Thanks,

Sujith

@Kale Stephens thanks for the suggestion. I live in North Austin. I have not looked into Taylor/Hutto yet. Are there any colleges or companies there? How is the Marble Falls? Who are the major employers there?

@Paul Williams Thank you! Since this would be my first time, would be more comfortable investing in something that I can drive to occasionally but as you said, returns should also be taken into consideration. Would love to here from you how you do out of state investments.

@James WiseThanks!

Hi Thea. Good to meet you. Let me know if you know of any Meetups here in Austin. Thanks, Sujith

Thanks Everyone!

@Chris Bernardo Thanks for taking time to answering my questions.

Hi,

My name is Sujith from Austin, TX. I work in hi-tech sector full-time and would like to start off REI part-time (mostly on weekends) to supplement my income. Would like to start off small and go big is the plan. Planning to get one done in next 6 months. Have some questions. Would be great if seasoned investors can help guide me to start this journey.

a) Are there any REI groups in Austin that meet regularly which I can attend?

b) Would like to start off in San Antonio with buy and hold $100K worth multiplex (at least a duplex). Put a 20% down and finance remaining with 30-yr financing. Chose San Antonio as I could not find any properties in my budget in Austin and San Antonio is closer to Austin. Is this a good first step?

c) How do I find good leads/agents from San Antonio? I spoke with some agents and almost all of them backed out and did not respond when I told them my criteria - $100K, multiplex and positive cash flow. I started to wonder if this is possible at all?

d) Whatever properties I found on MLS(realtor.com) for that price point are in low-income areas(according to city-data.com) and obviously lower rents. If I invest in such areas, will there be any appreciation of the property?

e) Will there be any property management companies that would take up such properties to manage including eviction just in case if any problems arise with tenants?

f) Are tenant occupied multi-plexes recommended for purchase in such low-income areas?

Thanks for the help!

-Sujith