All Forum Posts by: Yasir Einaudi

Hi @Jaime Camino

My name is Yasir Einaudi. Like you, I have deep roots in Mexico but have made El Paso, TX my home after living in four different countries over the past 18 years. My 8-year journey in the real estate investor sector has been diverse, dabbling in flips, rent and holds, apartment buildings, BRRRRs, STRs, and MTRs.

Regarding your query about starting a flipping project in Texas, I can mostly speak for El Paso. While it’s the most affordable market among your options, it shares similar economic conditions with other Texas cities like Dallas, Houston, Austin, and San Antonio.

It's pivotal to acknowledge the current economic climate. The real estate market is experiencing its lowest sales in recent years, and mortgage applications have plummeted to levels unseen since the 1990s. This downturn, compounded by recession and persistently high-interest rates, is prompting price adjustments across the board. Though construction labor and framing material costs have decreased slightly, most construction materials remain expensive. In El Paso, I’ve noticed flips staying on the market for four or five months, and luxury properties experiencing significant price drops.

Your strategy to invest in duplexes and 4-plexes is sound, but such properties are relatively scarce in El Paso and other Texas cities. With the strong Mexican peso against the US dollar, I’d recommend considering investing in rent and hold properties in any of these markets until the economic situation stabilizes and interest rates fall to more palatable levels, around 5%.

Personally, I've pivoted towards employing a BRRRR + MTR + conversion strategy, a niche but highly successful approach in any market.

I'd be delighted to meet up for coffee when you’re in town and delve deeper into these topics.

Warm regards, 

Yasir Einaudi Einaudi Real Estate & 

El Paso Furnished Homes

I highly recommend Jaxon Texas as your property management team. Their team is professional, knowledgeable, and dedicated to providing the best service to their clients. They have a strong understanding of the real estate market and are experts in maximizing returns for property owners. I have personally had a great experience working with Jaxon Texas and I am confident that they will exceed your expectations. 

Is there any difference in the eviction process between residential and commercial? 
I’ve attached a flowchart on how I deal with residential evictions for reference.

@Tony Ruiz I am sure it was! Good luck with it! 

@Tony Ruiz I consider low income for the $500-$600 per month rentals, I bought a 11 plex 4 years ago, completely gutted it one by one while cash flowing positive, went from $380-$400 rents to $560 and increasing with much more stable long term tenants.

My mindset is if you work in providing a safe, clean, and some what nice environment you won't have issues finding tenants. I have 100s of interested tenants every time I turn on my listing for these units. 

Regarding segundo barrio, it depends on the price, I own a duplex property on Magoffin which is a few blocks away, I purchased it for $15K - I fully remodeled it and have had 4 tenants in 4.5 years, so can't complain on the turnover. Beto tried to do eminent domain on that area but got a backlash a few years ago, I believe it will take a long time for this area to get $$ from investors, there are a lot of dilapidated properties in the area and therefore I see other areas with higher potential, specially the 79902. 79903 and 79930.
 Where did you end up buying?

Well, that would technically be bribing lol as it doesn't benefit the seller only the agent.

Hey @Allan C. wow never thought about doing that, I suppose is a type of rapport building but with the seller. Thanks for the advice 

Hey @Ivan Munoz, Good to hear that you want to get started in REI, I recall reading Rich Dad / Poor Dad when I was 18 years old, but didn't take action until I was 30, when I bought my first rental. So cheers to you to get started early.

There is a ton more resources to get started, I suggest you read Set For Life, by @Scott Trench its a must read for newbies as it changes the way you think about investing, saving, and how to set you for success.

Let me know if you need any advise in particular RE strategy.

Thanks,

Yas

Hey @Tony Ruiz, great news that you are moving back to El Paso, a lot has changed in the recent years, specially having the 375 loop which is a massive life savor during rush hours. 

I am a real estate investor and hold multifamily properties in the central area of town, I catered for low-income renters $500-$700 per month. I am about to get started in the short term rental world in one of my properties, let me know if you need any advise, 

Just be advised that you will need a commercial loan which requires a 25% downpayment if you are looking for anything of 5 or more units. 1-4 is considered single family from a lender perspective.

Cheers,

Yas

Awesome thanks for the advise @Julian Gonda and @Brian Garlington

Yes I tried to talk to the listing agents but sometimes they get 20-30 offers and 50+ calls so is hard to even get a phone call answered.

But I could start implementing building rapport at least via email, Are you seeing any indication of a slow down on your side of CA?

BTW I get calls from CA investors all the time, looking to explore the TX market.

If you get across a client that wants to diversify to TX, let me know!

Thanks,

Yas