All Forum Posts by: Tatum Littleton

 Hey Kyle, I too am early in investing and always learning something new. My wife and I chose to manage our own property in Bryan to start out with and have learned plenty from it. Will we ever use a PMC in the future? Maybe but for now I think the lessons we are learning and what we want to focus on have taught us well. 

I know there are differing opinions on what number they should get a PMC, I think it depends on how much work you want to do and how much time and effort you want to put into it. What stage in life and in investing are you are questions I think you should ask yourself to get a clear picture. Of course, there's no perfect right or wrong answer, it will be different for all but make sure you do what is comfortable for you and what fits your goals. 

If you do end up hiring sometime, I think Michael Smythe above, made some great points and things to consider.

Great to hear you're getting into REI early on and willing to learn! I think that's a great strategy to start out with as your first investment. It will teach you to screen tenants and how to manage the property yourself which will teach you more than you know.

As far as moving away, like was said in another post by Dan Heuschele it may be difficult for a property manager to do rent by the room, however, a traditional LTR should still be viable. Owning the property at all is great, so if you have to switch it up, it shouldn't be too burdensome. I really like the idea of having an investment in a college town, they do have their own problems but the potential for renters will always be there, that's what I find so appealing about it for LTR.  

All in all, it will take some foresight and being smart with planning out what your next steps are if you do end up leaving in a year or so. So, I would encourage you to build relationships and do some research on PM now, rather than later to get the ball rolling. 

Keep it up!

 I see! You're already on your way to smart investing and knowing how to screen for tenants or rehabbing or whatever you may do! Good on you, good luck!

 Awesome! I would tend to agree to invest where you know the area and city well. Would you call it a college town? I'm not too familiar with the town. 

Sounds great Camron! I think it will be a really neat opportunity to see different places and markets as you relocate from time to time. Take advantage to learn as much as you can about each place you live and look into its investing potential, obviously, some will be better than others but you never know what you'll find.

Be creative and try to learn different ways to invest and what works for different markets. Continue to be curious and keep digging! 

Do you have any idea where you may purchase your first investment?

Love to hear it, Ryan! Congratulations and here's to much more success! 

My wife and I have just become owners ourselves for just about a year and any advice I would give is to be picky on tenants. I'm sure you're excited to get going but don't let that get you into a tough situation. Make sure you get good tenants and do your due diligence even for people (it's not just for house searching) and it will be worth it. Our tenants just signed their second lease with us and we are thrilled because of how easy it has been... knock on wood it continues... So, again, be picky. 

Don't be satisfied with what you have, always look at how you can improve your property or where you can expand and maybe try something new sometime down the road. 

Good luck!

That's awesome Jeff! Good on you for having a plan, now the hard part... sticking to it. Continue to post on these forums and browse them to gain some general knowledge and pick out things you want to dive into and get more info on and maybe reach out to someone who seems to have a good bit of experience on that particular subject. 

It is very possible to add to your portfolio with little capital, it's about being smart with your money and sticking to said goals. The biggest thing to remember is real estate investing is a marathon, not a sprint and you will grow just let it take some time and be patient. 

I'd talk to people (other investors or agents) on BP forums that have tried different things and ask them what did or did not work for them and how something may work for you. Find what interests you that works well with your lifestyle and where you are at in your personal life and what you can reasonably handle but do well. 

If there are questions you have, post them! I'm sure other people have the same question and it will open a flood of information for you!

Hey Joseph, my wife and I invest in Bryan/College Station. We have a 3/2 that we rent for just under $2,000 per month, and didn't have any trouble getting that amount. Obviously depending on the area (either city) and what school the property is zoned as well as other amenities it could potentially be more. 

I believe rent could be more than the average and still not have any trouble getting the amount you want in the BCS. But the average overall is around $1500 - $2200. I personally don't have experience doing rent by the room (other than when I was a student, and I know they made plenty off of us LOL) but I know it has good potential. 

If you would like to connect, I would love to discuss more and talk more! 

Good questions Michael, it's actually in the Bryan/College Station, TX area. I think with the resources we have and the people we know, we can offer a great design and amenities to set us apart. My wife has already been looking into other STR and has a good base for what we could offer and get for rates.

Hey Austin, good on you for starting your REI journey!

Depending on the amount you can invest into the property to make your STR "pop" I believe those are all strong markets. Deciding how you want to manage it (on your own or with a prop. management company) should be a large factor, obviously staying in San Antonio would be easiest if you manage it yourself, what does your and your wife's lifestyle allow? Of course, it is not a one-size-fits-all, it's about figuring out what aligns most with your goals. What are your financial goals for this property? Having someone else manage it will obviously cut into your profit but that's for you to decide its importance.

Of those four markets, my tops would be San Antonio and New Braunfels. Currently, I believe those have the most potential for a quick return on your investment. 

I hope this helps and good luck!