All Forum Posts by: Tanner Woolley

Hi there! I currently am a 4 year senior tax associate at a Big 4 accounting firm. I have my CPA license and have done taxes for mostly very large investment firms that invest in companies and I’ve also a lot of work with private equity real estate firms. But I feel like my personality is being destroyed as a CPA. I am a huge people person and thrive off of human interaction and connection. Clients and management essentially want robots to crank out returns and workpapers. I need to pivot careers ASAP. I love the prospect of being an agent! It checks every single Box I’m looking for. I know starting out can be very rough, so I’m looking for as many professionals to connect with as I possibly can and any advice you all might have for me!! Currently in the greater Austin TX area and an investment property in San Antonio.

@Kathy Cooper I sent you a message, I would love to connect! We’re trying to get in soon and would love to have some feedback on strategy, etc

My wife and I are about to do a cash out refinance on our primary residence and get around 80-85k in cash to put towards a short term rental investment property. It will increase our personal residence mortgage payments by about 350-400/month, so that means we need to at least clear that on top of our vacation rental STR mortgage. For anyone in the STR market/game, if we have a property is it pretty typical to be able to clear more than 400/month on your STR after all expenses? We're looking in TX and thinking San Antonio. We're probably only going to use 40-50 of the 80k right away and use the rest to hopefully get a second property a year or so later.

@Anthony McEvoy yeah there’s a lot of info out there. Do you have any you utilize that’s helped you?

@Christopher Campbell I know I'm late to the party here, but this post was great. My wife and I are looking to buy in SA in the next few months for a STR/vacation home. Would you be able to connect about your thoughts on the area? We need an agent down there

My wife and I are going to be buying our first property as a short term rental. We know it's a lot more management, and we're good with that since the cash on cash should be a lot higher than LTR. We're going to be buying in the next couple Months and plan on putting in between 80-100k between down payment and furnishing/upgrades. We're in Austin currently and are thinking of doing the San Antonio area, kind of close to sea world/six flags. Does anyone do STR in San Antonio? I'm nervous about the place not booking enough.

Is there anywhere else people have invested in Texas that they think would be a solid spot? Doesn’t have to be a home run. I’m getting analysis paralysis 100% as I’m a CPA and way over crunch and analyze things. Thank you!

@Bryan Noth thank you! That’s very helpful. I need to find a good lender around here to ask then!

@Ryan Kelly thank you! When you say solid cash what would you recommend for someone to get involved here?

My wife and I are eager to get started in RE, but have low capital because of paying off all our student loans and buying a family home (finally done). We want to start by doing a BRRRR out of state (we're in TX with high prop taxes) somewhere like Columbus or Indianapolis to just generate some cash flow and get a decent cash on cash return.

Everything we read about BRRRR makes it sound like you can start no problem with little capital, but the more we learn the more disheartening it gets. Sounds like to get hard money you still need at least 20-25% down payment on top of paying the points. Is this always the case?

Anyone have any solid advice for a couple trying to get into RE with low capital? Or should we really just wait until we can get at least 20-25% down plus other costs? Currently we could pay for points, interest, and closing on a refi, but not a down payment.

Hey there! This post for me pumped. Sounds like there is some hope to BRRRR in the Austin market! My wife and I are looking to get into a local BRRRR, what area was this in?