All Forum Posts by: Tatum Littleton

Hey Rachelle, great to have you here and ready to hear some advice. Texas as a whole can be a great option to invest in whether you in or out of state! It's no different than any other market in that you need to do research and run your numbers well. It's possible to cashflow still but you may have to do more leg work. I work in the Austin and Bryan/College Station markets and it would be great to talk with you if you have any questions or want to talk strategies. Keep up the good work!

Hey Charlie, I think I remember seeing your last post but it's good to see you posting again and seeing maybe you will house hack. 

To answer your questions, if you can work at all and make and save any money, that's great and will help, even if it's just a bit. Let getting that bonus be some motivation to get more in your pocket before you purchase. It never hurts to talk to agents, lenders or anyone else in the real estate realm, getting their insights and opinions never hurts.

Keep analyzing different properties, you'll see (as you know) that Dallas is a large area and different prices in different areas, so see where you could potentially live and run numbers there. Be conservative and do it in different ways with different scenarios. 

I couldn't answer exactly for if $10k is too thin, it depends on your finances but it could be possible depending on how you negotiate a deal. Using an FHA loan is your best bet but may need a little more leg work because of your lack of employment history, but is still possible.

And lastly, I would encourage you that if you house hack with friends, you have to be comfortable and ready to have tough conversations with them if the time comes. And don't let cash flow be the end all be all, if you have people living with you, your expenses and mortgage is significantly reduced that you pay and you'll be saving money, learning to be a landlord for the future, and building equity all at a young age! 

That's my two cents, good luck and keep working toward that goal! You're starting at an age a lot of people wish they did, so good on you!

Hey Jake, on my team's transactions, we use Texas National Title. Their main office is in Austin and they have other locations within Texas. 

Great question Thanh, but really... there is no definitive answer for you. Many other investors have asked themselves (and others this question) but what I believe it ultimately comes down to is what are your goals (how much money you'd like to make), are you physically able to manage it yourself and do you have the right organization and systems in place to do it on your own. 

I'm sorry if I missed if your property is local to where you live but if it is... If you only have one STR, and your other obligations allow, then yes do it all yourself. You'll save plenty of money, you will also learn how to problem solve complaints and learn hospitality (because an STR is a hospitality business really). And especially if you're starting out, it's a great way to force yourself to be on top of things and not become lazy or complacent with your investment. Having good organizational skills and systems in place to ensure you're set up for success is key; if you can do that, then again, manage it yourself.

But, on the other hand, if your life is very busy with your w2 job or you have a family to take care of, then maybe having a property management company will do you well and just worrying about larger items. It all depends on your specific circumstances and I think getting other's opinions is helpful but what works for YOU?

That's just my two cents, so I hope some of that helped somewhat. But all in all, good luck and good on you for starting and getting going on your real estate journey. 

Cool to hear Mitch, good for you! I believe they have been awesome investments for you. I understand the hesitancy to lease to students but vacancy is so low, that if you can handle a few headaches, it's worth it. 

I believe there is a demand for those kinds of rentals. I can speak from experience as a student at Texas A&M, I lived in a 5 br/5 b house and I knew plenty of other students who lived in similar houses or "Ag Shacks" if you will. From watching the market and myself investing in Bryan/College Station, people are still renting out these properties nicely.

They can be leased as a whole or rented by the room and are usually in great areas, close to the university, grocery stores, and restaurants. I think enough investors are looking to invest in these kinds of properties because of their potential, and with as many property management companies as there are, it makes it that much easier to be an owner.  

Hi Nicole! I'm glad you are looking to invest in Bryan/College Station. I believe it's a great and thriving community with unique aspects that make it stand out from other markets in Texas. 

Feel free to reach out anytime. I would be happy to talk with you and learn more about you and your goals!

Great start Denice, I'm glad you're on the forums and ready to learn. You've got a great start by being here and an idea of what you want to do. I would encourage you to read this beginners guide from BiggerPockets, it's a good bit of information so pick and choose what you want to read or read it all. It will give you a 30,000 feet view of real estate investing as a whole for different strategies and will allow you to find new ideas and to explore and see what works for you!

Find your "why" and let that be your motivation! I would be happy to talk with you about the real estate market and what your goals are in investing. Learning as much as you can and remember, its a marathon, not a sprit so keep working hard!

Hi Andrew, glad to have you in the forums, there are plenty of good conversations happening on here especially for out of state long term renting. In my opinion, long term rentals is the "easiest" to get started on your investing journey. I put quotes because its simple but many people make it more difficult. I think you're starting in the right place!

Keep learning and investing in yourself and your family, good luck!

Hi Chloe, good on you for your honesty, being honest with yourself and others goes a long way! As you will see there will be a lot of people willing to help and offer advice but its up to you to sift through it all and find what helps you for where you're at in life. 

You are so young and have more than enough potential to be successful. My opinion (and it's just that, an opinion) would be to keep your 9-5 job as it is steady income and be frugal and save as much as possible. Learn from your family and on your own by going to different meet-ups and having conversations with agents, other investors and anyone else in the industry to hear about their experiences.

Make 2025 a year of planning and how you will go about that plan. Maybe look at numbers and properties you could do a potential house hack and begin to plot out moves but I don't want you to fall into the analysis paralysis group and never make a move, have people that will encourage and keep you accountable. 

I don't think it is a bad idea to find work in real estate somehow as it will allow you to be comfortable with being around it in general, such as a property management company. But I would encourage you to not give up what you have now but instead make a plan and see it through. Being in Texas already is great, there is plenty of potential in the DFW area. 

Real estate investing is a marathon, not a sprint, not a get rich quick scheme. You learn as you go and from others. Keep up the good work and keep that positive attitude, it will reward you soon enough!

Feel free to reach out with any other questions!

As noted above, having an agent that is familiar with investing can help in how the investing market looks versus how buying a personal property looks. It seems you and your husband have the ability to make a property more desirable and I would try to stay local for the same reasons you listed. 

If you haven't already, try going off market, driving around neighborhoods that would be of interest to you and finding ones that fall into your criteria (your agent should be able to help you as well). Keep looking on the market, something will come available but you have to be ready to get on it. It doesn't seem like you will be living in this rehab at all so as @Patricia Steiner said, buy an opportunity, not a property. If the numbers work well and ROI and ARV are good, go for it. I know it's a bit scary to start but once you jump in, you'll learn and grow! Good luck!