All Forum Posts by: Alexi Schreier

@Arissa Pedroza thanks for your reply :) Does "Vacant Rented" mean that a tenant is paying rent but doesn't occupy the unit?

Also, any ideas why the general vacancy trend is rising over the years? I realize that the vacancy in the report I screenshot could include different types of vacancy but the report does specifiy that it's talking about Rental Vacancy so I feel like it's still pretty relevant. Any thoughts?

Hey all, I stumbled on this while doing some research on vacancy rates:

Can anyone who knows the San Antonio market well explain why rental vacancy started rising since 2013? The data only goes up to 2017, but has this trend kept rising through 2019?

This shows vacancy for the entire SA metro area so I'm sure it varies wildly depending on what neighborhood you're in but it would be interesting to know what's causing this global trend.

Source: https://www.deptofnumbers.com/rent/texas/san-anton...

(cool website for looking up various stats related to real estate)

@David Neese Interesting perspective. It's good to remember that the 1% rule is not a rule but a rule of thumb. And factors like high property taxes can skew the numbers. Thanks for the reminder!

@Blake Berke Thanks for confirming what's been said about the 1% rule! Very helpful :)

@David Neese Thanks a lot for the insight, no doubt that Omaha has a strong economy and stable market.

@Owen Dashner Yea I'd like to stay away from 2% neighborhoods in general, not enough experience yet to be too adventurous :D

Thanks for the info though!

When you say multifamily, are you investing in 1-4 units or 5+ ?

@Brynn Jacobs @Owen Dashner @Blake Berke Thank you all for clarifying!

The trade off of high taxes for a stable market seems fair to me too. Blake, thanks for the article, crazy story.

Are you guys able to exceed the 1% rule on SFH or residential MF rentals with this extra cost?

Hey all, I'm from San Francisco and interested in Omaha because of it's strong economy, good school system, relatively low vacancy rate, etc. I also visited the area a few years back and met the nicest people  :)

I've noticed that property taxes are quite high in Douglas county and was wondering if someone could explain some numbers I came across on the Treasury's website.
After looking at a property I saw on Zillow selling for $135k, I looked up the property taxes on the Treasury's website to find that they amount to $3,289.78 for 2018 (see red rectangle in the screenshot). That seems quite high for a $135k home.

Looking at the Assessor's Valuation Page, I saw that the assessed value for the home is $153k (see green rectangle in the screenshot).

I have two questions:

1. Why is the property listed at 135k assessed at a value of 153k?
2. What could explain the jump in land value from $5.8 - 18k from 2016 to 2017?

Here are the links if you want to check it out:

https://payments.dctreasurer.org/taxinfo.xhtml?par...

http://douglascone.wgxtreme.com/java/wgx_douglasne...

Hope everyone's week is going well!

@Kevin Rinn Congratulations :)

I’m assuming that the 15k was for the down payment, closing costs, etc. Is that correct?

Are you planning on doing any rehab work?

Hi Ed,

It's great to see you interested in REI at such a young age. I'm also starting out. What I can tell you is that many people will tell you many different things and it can get a little overwhelming. Find a few mentors that are successful in the area of real estate investing that you want to be in (it's a very broad field) and listen to them. Learn from the best. Focus on what you learn from them. Sometimes the best mentors aren't available in person but they may have books that you can read. I agree with @Rafael Norat Gary Keller's Millionaire Real Estate Investor is a good start.

You'll do great man!