All Forum Posts by: Tim S.

I'm pretty sure land contracts are not legal in TX

My student housing is fully furnished: beds, dressers, desks, pots pans, silverware, couch, chairs, everything.  Some people want their own beds, they are free to bring them in but, I don't let them get rid of the beds provided. 

Depends on if you are starting a note business or just being a note investor. If you want to make a business out of it then you'll need to spend time marketing, talking to potential clients / JV partners. If you are just investing on your own, you won't have to deal with that aspect of it, so less time required.

Same, chances of it burning down are very small. I just cover my costs. 

Sounds like Jill's advice is geared towards a business where you will be advertising your services, and you want people to know your business name, that could be good advice depending on your objective. 

My advice is intended for people who are just using the LLC for asset protection, where you want to stay low profile and anonymous, you don't want to be a target. Doesn't matter if it sole proprietor or multi-member. Ex. MLNC LLC

Yes it's too early to worry about. If you are financing, most likely will not be able to buy in the name of the LLC.

When choosing a name, pick something very boring and generic and makes you sound poor. Should not reference real estate, or investing, best if it has no meaning at all.  If you spend more than 10 mins picking a name you are overthinking it. 

see this thread

https://www.biggerpockets.com/forums/52/topics/491641-nearing-1-000-college-student-tenants-heres-what-ive-learned

@Theresa Harris  "In Vancouver BC they said it was foreign owners who were driving up the prices, but when they looked at the number of foreign owners, it wasn't that high. Part of that was again related to houses sitting empty while people couldn't find places to rent."

Same thing was going on here in the Bay Area.  It doesn't take a lot of of Chinese investors to push the prices up.  As they overpay, they are setting the top of the market.  All the new comps are now influenced by these high recent sales, even if there only a small number of them.  The new sales spiral up due to the new comps,  justifying even higher new highs.  New investors come in and overpay above the current top, setting higher new highs, and it can keep spiraling up even though the percentage of foreign investors is pretty small.   The local buyers who are desperate to buy something, anything, before prices go up even more have to be there to support this dynamic.   So they cash in their stock options and pay crazy prices because they feel like they have no choice. 

This doesn't seem to be happening around here much anymore, as it was 10-24 months ago. 

Overall, in most markets I agree that investors aren't a big factor in driving the prices up.  Investors (usually) have to make a profit, while OO's do not. 

Agree that the search capabilities of BP are pretty crap, can't find much of anything even when I know for sure it exists, like I just read it yesterday and want to find it again.   So if there are any tips to get search to provide anything useful I'm all ears.

OP didn't mention what your time horizon is, how long do you want your money tied up?  If you are accredited, you should look at syndications.  They are passive, returns can be better, no tax write off's though.  It really does depend on your situation and your goals. 

Find a property manager to handle it for you.  Unless you have construction mgmnt experience you will likely be taken advantage of.  You need local people to watch and make sure it's happening correctly.