All Forum Posts by: Travis Rogers

@Caleb Longino Thanks for the info! I have fam in Temple, and am currently under negotiation and working with fam to make something happen. Quick question, what does FF stand for? I'll review Georgetown, my fam is building a home in Salado, a little closer to Georgetown than where they are in Temple. I try to target smaller towns and higher cap's but will take a peek at Georgetown today, I'm still in the negotiating phase on one I'm looking at now, so nothing's set in stone yet, always good to look at other options! Thanks again! 

Hi Folks! I have an SFR in Temple, Texas that is doing well. I'm currently looking at options for storage facilities in Belton, Texas (or smaller towns around that area). Is anyone in the storage market, or have any insight on that market/area? Unfortunately I currently live in Oregon which makes it a little challenging. Thank you in advance for any info

    

@Eli Zachary Goodwin congrats!! I'm in Eugene as well. I have a few rentals and about to make a larger leap into storage out of state. RE is the best investment you will make over the long term! Best wishes!

@Tyler Baltus I live and have invested in eugene. I also have the best realtor in town, just referred him to a friend who had great results as well. I've worked with him for over 10 years now, certain months he's #1 in Lane County, but he's always available, and a nice guy! The market is hot here, so I'm not seeing deals, but feel free to reach out with any questions. Just a heads up, I'm on vacation with my son so my responses will be delayed. All the best!

I agree with @Rachel H. and @Jay Hinrichs. Personally I stay away from those type of tenants and rentals. I learned watching my dad with a triplex in a bad area, he spent more time trying to get paid a small amount for each unit and then taking care of them after one would get trashed. High maintenance. My preference is above mid, to high-end rentals in good school districts. You get paid more per unit, and tenants seem to be respectful most of the time, they are truly passive. That said, if I could find a good MFH park, in a decent area, that is a great option. Dealing with them in bad shape is tough unless you can change it to a nicer park. In this situation that would be tough I would think. Maybe it could be done, but the payoff wouldn't be worth the time, cost, and effort to me (just my opinion). Good deals on MFH parks are hard to come by right now, they are a hot commodity that will continue to do well if times turn, which seems likely in the near future. They also can't be built so there are a limited amount making them harder to come by, increasing the sales price. Therefore, they're in a sellers market. Again, just my opinion, I don't want to be negative, but also would hate to see someone spend a lot of what they probably worked hard for to realize there may have been a better deal out there. All the best regardless! 

@Cory Carlson Thank you for the info/advice! I appreciate it and will try to reach out this week or next.

@JJ P. Thanks! Unfortunately I can't payoff my property w/out cash-out. I will just save $300/mo refi on my primary, which looks like what I'll do and seems to be the best approach for me. It would be nice to pull some out and pickup another property, but timing's not right for me. I'm more of a turtle investor and it has paid me well, just not going to be super rich, but that's not my goal. Financial freedom is better than the risk of trying to be a billionaire. I will definitely check out Financial Mentor, thanks for the suggestion! Locked in my rate today figuring if a vaccine comes out the rates/market will go up, I think my decision is made, always tough to decide but not a bad thing to save $300/mo so I'm happy with it. Appreciate the input, I lived in Diego 20 years ago, best 1M+ city in the nation IMHO!!

@Anthony Bellesbach thank you for your comments. I don't pay PMI, I avoid it like the plague :). Yes, my current strategy with these three is long term, and weather the storm when it comes, to come out ahead on the other side. I have also considered selling one or two and putting that into storage units or multi-fam, not sure though if I could do a 1031 since it wouldn't be like property, and if so there would be a huge tax hit. I try to avoid tax hits too.

Thanks for the info Jack, I agree. As far as the TX property, this was a huge learning experience for me. If I had it to do over I wouldn't have done it due to property management costs and complications I've ran into (and lack of appreciation as you've mentioned). However now that it's generating $300/mo net after property management, etc., and is on auto-pilot, I plan to keep it at least until the tenant moves out. 

I've realized appreciation is huge and I've always had it where I live in Oregon, this is the first property I'm not seeing it on due to location. Appreciation in TX may change as a lot of Californians are moving there now, which is what keeps Oregon costs appreciating as well. Time will tell, but it will also be the easiest to pay off, and will be a nice cash flow at that point so that's the positive side. 

Thank you again for your time! All the best!

Hi Folks! 

My name is Travis, I own 3 SFH properties (2 rentals, and my primary). Two of them (one being my primary) are at about 50%-55% LTV, they are in Eugene Oregon. I'm considering a straight no-cash-out refi on my primary, cutting my monthly payment by about $300. Prior to that I was considering a cash-out on my primary (100k cash out) and paying off one of the rentals (the low cost one in Texas), but the numbers line up about the same and I'd rather pay off my primary in the end than my low value TX rental. Numbers are below, any thoughts, suggestions would be appreciated! Main goal is keeping payments low and being able to weather a storm. This helps with that, I just don't pull any cash out in this scenario.

Primary: Owe 218K / Value 440k 3.875% current rate (4 years in)

Rental 1: Owe 212k / Value 380k 4% current rate (1 year in) fantastic rental/renters/area!

Rental 2: Owe 101k / Value 140k 4% rate (4 months in) decent rental, but not spectacular

Obviously rental 2 won't do anything on a cash-out. Rental 1 and Primary both have great equity positions. Rental 1 pays me about $415/mo currently. My thinking at this point is just to refi my primary and save the $300/mo for now, but if you see any better options, creative options that I'm overlooking, let me know. Thank you for your time! I look forward to reading any comments you may have. Also, if any of you know anyone doing a no-cost (true no-cost) refi please let me know. I've done them in the past, but can't find anyone doing them right now, probably due to the market being so hot! This is my first time in this scenario, just want to make sure I'm not missing anything obvious.