Hello. My wife and I have 3 single family home rentals in College Station, Texas which is about 75 miles northwest of our home in Katy, a large suburb of Houston. We purchased two of these properties about 10 years ago and then added the third, also a SFH, this summer. These are all student rentals. We are looking to expand into more properties possibly in Bryan/College Station, but more likely in the Katy area. My wife and I are both accountants and CPAs and work in Houston. I work for a large, commercial mechanical contractor and my wife works for multi-national energy company. Looking forward to learning more from the BiggerPockets family!
Hey @Byran Farris From another CPA, welcome to BP! Student rentals can be a great niche and looks like you have a great foundation.
Here are some resources I recommend for newcomers:
If you haven’t already listened to the podcasts I’d start there.
Episode 220 - Jesse Fragale - Student Rentals
Episode 108 - Grant Cardone... Just listen…
Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...
Episode 113 – Jay Papasan - Very practical slow and steady advice
Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k
I work with real estate tax clients; however, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.
Tax Reform Update – Brandon Hall and Amanda Han
BP Calculators or spreadsheets uploaded by members
My Favorite Books
I have to say all of the BP books…right? :)
The Millionaire Next Door
The Millionaire Real Estate Investor
What Every Investor Needs to Know About Cash Flow
Hope this information can give you a good start. Feel free to reach out with any questions.
@Byran Farris Congrats on your previous investments. You mentioned both: you and your wife are accountants, so you're very familiar with the economies of scale and tax aspects of owning RE properties, why not look into buying multi-families?! You can place many more students there. :)
I'd recommend reading some books on multifamily by stating with Steven Berges book on apartment complexes and David Lindahl on multifamily millions.
Welcome to BP @Byran Farris . College Station is a beautiful area (I just moved from central Texas). If you do start considering multi-family properties I'd suggest podcast #285 that covers that topic.
@Byran Farris Welcome!
I also recommend checking out small multi-family rentals. I own a handful of duplex/fourplexes in Bryan/CS and they are performing excellently.
The book that changed my thinking was called Duplexes, Triplexes, & Quads by Larry Loftis. Check it out!
@Account Closed - Wow, what an awesome list of resources. Thank you!!
@Account Closed We used to have a portfolio of SFH's in Katy/Cypress/Tomball but recently sold them all to move up to a multi-family in Bryan/CS. I might need to pick your brain as I get to know the area.
Thanks to all of you for reaching out.
@Account Closed We have a lot in common with our markets. Thanks for linking up with me.
@Byran Farris Awesome! Great coincidence! Hope other suggestions help as well.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you