All Forum Posts by: Zack Oberlies

Another option is looking for distressed property that has high DOM. Sellers and agents are going to be much more willing to negotiate when you're 90-100+ days on market vs inside the first 60 days. And to some of the points above, figure out a way to close quickly, whether it's cash or HML. Quick closing and waiving option/inspections can help negate the lower offer.

Hi James - let's connect this week when you have a minute. My firm covers all types of investment property from San Marcos through Austin, up to Killeen/Temple and works solely with investors. Shoot me a direct message. 

I agree with @Chris Marroquin, don't feel bad...It's business at the end of the day. Do whatever is best for you financially. And trust me, no hard feelings on this side of the fence. It's part of the job. 

I won't jump in anymore, so everyone can opine freely. Just wanted to drop my 2c.

I work with New Western. Happy to answer any specific questions you, @Akshay Bhaskaran, or anyone following the thread has. 

The short answer is that New Western is generally used as an additional resource for investors. For investors who have the time and network to find their own deals and the numbers make sense, then by all means, it makes sense to source your own deals. We run the numbers beforehand, package them up, and make them available to our investors who can choose to take it or leave it based on the data provided. Sometimes you'll be able to make more money on your own deals if you have the network, and sometimes we'll have deals you won't be able to beat. Really just depends on the deal and depends on what your end game is. 

Hey Alden - I did this a few years ago in Chicago before moving to Austin...I've got a lot to say. Send me a message and lets hop on the phone this week. 

Hi Michael - I like 78745 and would also recommend 78722 and 78721, all if you want to be closer to downtown. To some of the points above, I'd also recommend going off market if possible. Shoot me a DM if you have any questions. 

Little late on the response, I like the South and East suburbs and surrounding towns of Austin. There is a little more land out there than North near Pflugerville, Gtown, Leander, but starting to develop very quickly thanks to Tesla/Samsung. Also going to see the San Antonio to Austin corridor fill in and become a metroplex over the course of the next decade, and these surrounding towns will become suburbs. I really don't think there's a wrong answer right now.

Thanks, I hadn't seen this article yet. We are seeing Hutto start to absolutely fly off the rack. As well as Leander and Bastrop. 

It depends on how much time and resources you have available. If you have a network of agents and contractors, whether it's in your city or remotely, it could open up your options to the types of properties you invest in. I strongly encourage my investors who have a little bit of time to spend to go the hard money route. A lot of hml lenders will lend on the deal too, so it's easier than conventional and faster pace. Instead of putting all $100k into one investment, you can split it into two or three different projects and really snowball your profit. Spreading it out over multiple projects also de-risks each investment. Then you can flip and sell or cash out after the rehab and refi. If you have very little time to focus on real estate, I would look more into a cash flow market and find a good property manager where you can just collect rent every month. Shoot me a dm if you have any interest in the TX market.

To me, this would depend on what city you live in and what kind of tenant she is otherwise. If it's affecting your mortgage payments and she has not otherwise been a respectful tenant, then I would say yes, let her go. Does she take care of the property and keep a clean unit? Or is she devaluing the unit? Coming from Chicago, our tenant laws are extremely strong and it would take potentially a year to evict a tenant (especially with the post-covid courts). Then you have to worry about the potential of vacancy afterwards and the loss that comes with that....plus a leasing commission if you hire an agent. I've kept good tenants who consistently pay late as long as they're ultimately reliable. Some people get paid on atypical schedules. But if it's negatively impacting the cash of the property, then I think you have a decision to make. 

I think you're the only one who will know if she will destroy your property, but generally there's some semblance of a respectful relationship with a long term tenant like that.