All Forum Posts by: Tao Xu

Originally posted by @Ethan G.:

What were the terms of the two banks you got?  I have found local/community/regional to be highly variable in terms. 

I got 3.5% fix for 20 yr at one bank; 4.75% fix for 20yr at another with 30% down payment. I don't have the cost estimation and the detailed terms yet. They asked for more personal information, like filling application. And I am reluctant to send in applications at each bank that I want to quote.  One of them is Trustmark NP - is it a legitimate bank or lender?

I am shopping for a commercial loan for a 6-plex rental property that is located in Houston. I heard that commercial loan has higher closing cost than the residential loan - is that true? Does anyone have any experience/tips to share?
I got two quotes from different banks. They varied more than 1%! The lower rate one seems to be too good to be true. Is there anything that I should be particularly cautious about?
Would like to hear your experience/lessons learned! Thank you for your time!

@Cody L.Thank you for the detailed instruction, Cody! I will definitely look into that. Need to understand if there's anything particular about Texas law and what the impact is. Much appreciate your help!

@Christopher CousinThank you Christopher! Would you please PM me the attorney's info?

@Cody L.

Hello everyone,

I am looking for a real estate lawyer in Houston, TX, who can help with putting a correct structure for my rental properties. Does anyone have any recommendation or experience to share?

I searched some previous posts on this topic and the answers ranging from DIY, accountant, to using lawyers. The concern is how to set it up correctly at the beginning to have real protection and make it scalable. I am  interested in hearing your experience about it.

Thanks in advance for your help!

hi All,

I am currently using Geico for my investment property insurance but would like to further improve the cost. I looked through some previous posts on this and many people suggested to use an independent agent who specializes investment property insurance. 

if you have such experience, will you shed light on this topic? any agent recommendation? 

thank you for your consideration!

I am looking for a good agent who can guide me in finding multifamily houses in heights, midtown, upper kirby area in Houston. If you have any recommendation, I'd appreciate if you can share such information/leads.

thanks, Benedict!

Hello!

Great to find this forum and see a lot of eye-opening discussions! Though being a home owner for many years, only until recently, I decided to become a real estate investor. Something about myself: located in Houston, TX; home owner of one SFH; landlord of one TH. My investment goal is to buy properties at good location with good deal, use mortgage, rent them out to have a positive cash flow, and let it slowly appreciate and take advantage of the tax benefit.

The TH I own has been already paid off and valued around $400k. Since it is in a very good location, I still want to hold it. But it is $400k sitting there with minimum return (after the repair, high property tax, the rent is less than $2500/month). I am wondering what my options are to better use this equity for my future investment. Any suggestion?

I look forward to connecting with other investors, agents, contractors, CPA virtually or in local meetups and exploring new opportunities!  Thanks for your time!