All Forum Posts by: Michael Renna

Hi Everybody,

I've been on this site once before and then got caught up with my job, My name is Michael Renna.  I'm 26 years old and currently living in Houston, Texas.   I'm taking a second stab, but I have a burning question for everyone/anyone on here.  

I have been presented with two options:

Option A) Owner Occupy a brand new home in the heights (Houston, TX), a very nice 3br3.5ba and rent out 2 of the 3 rooms.  I already have tennants lined up.  My mentor has advised me that this is a risky/short term strategy, since I will need to rent it in the future.

Option B) Continue my search for an affordable Multi-Family-Residence and fix it up slowly.  Most likely I will need to partner with my Father (who has agreed to help, but won't give me a $ figure to work with.)

I realize this is a broad question, and I'm asking retail brand new vs established seasoned property, however I feel like I will get some good answers from the community.

Thank you for your time.

Michael Renna

Has anyone heard of [email protected]?  It is free and you submit payment via email.  If you have ever paid for anything with a iPhone, you have probably used Square.  This is the same thing and THEY DON'T CHARGE ANY FEEs!!!  I'm thinking about doing the same thing as @Asher Anthes but only 2 roommates for me.  Is there a better way to have the home in a trust instead of owning it personally?

I love these forums great stuff! I am a subscriber and listen to the podcast almost everyday! Thanks @Brandon Turner

@Bill Gulley When do you start to consider building your own Multifamily if none around fit the criteria?

Hi All,

My hometown of Austin Texas is in a huge growth cycle. The home prices could be argued to be overvalued, so I wanted to look at alternative nearby towns. I came across Bastrop, TX. I found a charming home that I could live in and watch as over the next few years Austin will continue to expand and I could watch the value of the land in Bastrop continue to rise. I've oversimplified my theory, but I would still appreciate any experience other investors have had.

Thanks!

Wow! What a quick reply out of everyone. BP really is awesome! I've been trying to immerse myself in the content both podcasts and literature I've found on this site, and it is all great information. Awesome advice and thanks to @Account Closed

As easy as it would be to live in a rehabbed place, I understand there is far more value in living in a unit that needs some work. And I am okay with that! So with that being said how do I find those properties online I know there must be a place? #newbie

Hi BP,

My name is Michael.

Just became a fan of the BP podcast, some really great stuff so far. Seriously interested in part time real estate to earn extra income. I'm a full time IT consultant and enjoy my day job, but I (as could everyone) use a bit of extra income. I live in Austin, and currently staying with family and friends, but I'm looking for a place to call my own/make some extra cash at the same time.

Naturally identified a Multi Family Rental Property would be a place I could live in and rent out the other part. Specifically I think starting with a duplex is a good idea for now. The home I am looking at currently is WAY over valued (austin is in a bubble) considering roughly 100 people are moving here a day. http://www.bizjournals.com/austin/blog/at-the-watercooler/2014/02/how-many-people-move-to-austin-a-day-heres-the.html

How do I go about purchasing when I know I know this home was flipped and is in a "developing" neighborhood?

Here is a link to the home:

http://www.redfin.com/TX/Austin/2211-E-51st-St-78723/home/31418874

Any Advice would be greatly appreciated