All Forum Posts by: Whitney Breedlove

 It's based on the tax assessed value of the house multiplied by the property tax for that specific area (usually around 3%). Look on HAR.com they have the most accurate property taxes for listing in the Houston area. 

Just beware of property taxes! They can change drastically neighborhood to neighborhood in that area. Besides that, it's a growing area with great school and high quality tenants. 

I live nearby in Clear Lake and my personal policy was just dropped and all new policies were over double the price. I went from paying $1600/yr to being quoted $3500 and this was under my name, not an LLC. They're raising insurance prices like crazy so it may not be just because you're an investor. Definitely shop around though. If it is just because it's under an LLC then it could potentially be worth it to put it back under your name and then just buy umbrella insurance to protect you? I also have an investment property in Pearland and so far my homeowner's insurance has remained steady on that home at around $1700/year (it's under my name, not an llc).

@Diana Jing That's super helpful! Thanks so much. 

Was this on one of the properties in Florida? If so, how were the insurance costs looking on these homes? I'm slightly worried about flooding and hurricanes (a little ironic considering I currently invest in Houston lol). 

Is it a common strategy to make a cash offer in order to have a more competitive bid and then once you've purchased the home, refinance to get your money back out? I'm thinking this is what I'll need to do in order to win in this crazy market. To be completely honest, I'll have to borrow a large portion from my parents to have the cash so I'll want to be able to reassure them this is a good idea. What are the downsides to this?

Thanks @Luke Trovinger! That's actually what I'm currently doing as well. I have my money in a money market account with CIT Bank. But yeah you're right, when I first got it 3 or so years ago the interest rate wasn't bad but now I'm getting 0.45%. 

Hey guys,

I'm wondering what everyone does with their down payment money they have saved while they're looking for rental properties. I'm totally inexperienced with investing my money outside of real estate and my work retirement. I have a nice amount saved up that I plan to use for a down payment or two for some rental properties but I'd like to have that money working for me while I'm looking for deals but it obviously needs to be easily accessible for when I do find something. What do yall do?

Congrats!! 

Got it, thanks! Yeah I'm trying to fully vet how it works because we would sell my husband's car to get a car better suited to rent out but also use it as our second car when we need it so I don't want to go through all of the hassle of selling it and then not really having a good experience with Turo. But I would think only renting one car just for some income on the side wouldn't be TOO much of a hassle. I'm in Texas too so it's interesting to read about your experience.