I'm thinking that these projects will tie me up for the first quarter of next year, but I should have them rehabbed and rented by April.

If you are capable of finding two good deals a month, why not flip six houses a quarter instead of just the one?

Some areas, typically more rural areas, will use a "meets and bounds" survey that says "starting at the SW corner of the NW quarter section of section 14, township 3, range 5, north 100', then north 93 degrees west 300', blah de blah".

i do most of the work myself, i can do it in a quarter of the time, the quality is good, and don't have to worry about other people.

Hey Clay Huber - We've considered doing that, but that would make the shows a little more dated.

Most of north Texas is clay which moves quite a bit.

The difference is with a multifamily you have your own living quarters whereas with a single family you would be sharing the kitchen, living room and all common space with your tenants.

@Michael Clay - I am actually using this strategy now.

  • They need to inspect the property at least twice a year but would prefer they change out the air filters quarterly so they enter the property  • And I like the communication on all repairs even as little as a text. 

Our non-debt costs are as follows:Insurance: $42/monthProperty Taxes: $125/monthProperty Management Fee: $150/monthIncludes renter insurance for tenant, home warranty for appliances, weekly external visual inspection, quarterly internal inspection with tenant, annual maintenance of property's systems (HVAC, flooring, etc.) and some for CAPEXTotal monthly non-debt costs = $317 which is 24% of the gross monthly rent.