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All Forum Posts by: Andrew Johnson

Andrew Johnson has started 4 posts and replied 27 times.

Post: Addressing Racial Disparity in Home Ownership/ Wealth?

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14


Without presenting any bias, I'd like to enter some statistics from the US census.
Currently there are 139,684,244 housing units.  Of those 63.8% are owner-occupied.  
Here are some of the statistics for ethnicity.  The word "race" is an inaccurate term to use when discussing humans, as there is currently only one race of humanoid mammals, Homo Sapiens.  I took the liberty of eliminating the double counting of individuals, since the statistics add up to 178.5%, and eliminating double counted individuals gets us to 99.4%.

Given the below statistics, of the 89,118,575 housing units that are owner occupied, 11,941,889 (13.4%) would be owned by "Black or African American alone"; 

1,158,541 (1.3%) would be owned by "American Indian and Alaska Native alone"; 

5,257,996 (5.9%) would be owned by "Asian alone";

178,237 (0.2%) would be owned Native Hawaiian and Other Pacific Islander alone";

16,486,936 (18.5%) would be owned by "Hispanic or Latino";

53,560,263 (60.1%) would be owned by "White alone, not Hispanic or Latino"

-----------------

I just think it's important for people to understand the difference between equally represented and equal. 

Other stats that complicate equal representation are things like age.  The stats for ethnicity are age blind.  And its easy to understand that children under 5 are not homeowners.  So we would have to further go into the data and extract ethnicity per capita of age ranges which one may find appropriate to consider for owner-occupied housing unit ownership.  30-60 years of age would be an accurate age range to consider in my opinion. Then we would also have to consider regional differences if you'd like to be more granular.  

For example, what is the ethnicity per capita of "Madison county", how many housing units are owner occupied?  If of 30-60 year olds living in Madison county are 31% "Black or African American alone", then one would hope that EXACTLY 31% of owner-occupied housing units of 30-60 year olds are owned by an individual who is "Black or African American alone".  If it is under 31%, then 30-60 year olds in Madison County who are "Black or African American alone are under represented in home ownership.  If it is over 31%, then they are over represented and one could conclude that they are receiving some sort of socioeconomical privilege that other ethnicities are not receiving. 

My point of all this being three fold; ensure that before you investigate a problem, first ensure the problem exists through meticulous research.  Second, if your information is coming from a United States based media company, it is inherently flawed and should never be trusted; conduct your own research methodologies.  Three, there will never exist a universe in which some category of people is not over or under represented based on a per capita analysis.

Anyone can skew the above research by simply changing the age range to fit their narrative.  Or by expanding or contracting their regional research to fit their narrative.  Be well informed, conduct your own research and follow the scientific method.


Black or African American alone, percent(a)13.4%
American Indian and Alaska Native alone, percent(a)1.3%
Asian alone, percent(a)5.9%
Native Hawaiian and Other Pacific Islander alone, percent(a)0.2%
Hispanic or Latino, percent(b)18.5%
White alone, not Hispanic or Latino, percent60.1%

Post: Need CPA & Attorney Recommendations - San Antonio

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14
Originally posted by @Brad Larsen:

@Eric Jones  Eric - if you send me your contact info off line, I can drop a few names for both CPA's and Attorneys here in San Antonio, TX.

Your criteria for a CPA to be an investor themselves may be counter-intuitive.  Most CPA's are not hard-wired for that type of risk.  They are high in compliance and low in risk-tolerance.  Keep that in mind when shopping.  

I've been using my CPA since 2003, and he was recommended to me by my mentor that had more rental homes than he would ever tell me.  (Enough to zero out his income every year).  

Hope this helps!

So sorry to drag up such an old post!  My bad.  However, I am also looking for these recommendations!  Thank you. 

Post: San Antonio CPA - looking for recommendations

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

I’m looking for a CPA for the first time, here in my new home, San Antonio TX.

This year I put my SFH, and a Duplex into service. It's my first year as a landlord. I also received a Bonus this year, and as active duty military, our bonuses are rare (every 6th year for me). So I have an unusually high income this year, that won't continue into next year.

I'm hoping there's a fancy tax method to reduce my taxable income based on putting the SFH (purchased in 2014) into service, and the Duplex (built and purchased in 2019) into service.

Thank you everyone!

Post: What's the most effective vehicle to advertise a rental property?

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

The answer is, "Yes."

Tenants use everything you've listed and more.  Now if we're talking about targeting military, specifically the Air Force, I would recommend AHRN.com.  It is still the primary software pushed by the Air Force when you call up the base as an incomer and ask about the local property situations.  Mind you the base housing office is pretty honest with members about the state of housing in the local economy.  They'll tell you which schools are best, which ones to avoid, and a rough guess at what you can afford with your BAH (basic allowance for housing).  Typically there are no application fees for properties on AHRN as well as a noted discount (typically $50?) in the rent for military.

If you want to cast a wider net but still scoop up military, just advertise everywhere and put $50 military discount and application fee waived in the ad.

Post: How do you decide whether it's better to sell or rent your home?

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

Hi Julie,

You may want to run it through the rental property calculator or the BRRRR calculator here in BiggerPockets. I believe it's biggerpockets.com/calc . Since you already have been in the house 3 years, many of your numbers will be fairly concrete. Also, @Brandon Turner made "How To Rent Your House: The Definitive Step by Step Guide" which can be found at https://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/

Good luck and I hope you got the orders you wanted.

Post: Building a duplex

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14
Maybe I've misspoken. What I'd like input on is a look at the break out of costs from people with experience building. Is $117/sqft pretty typical for an investment build of a duplex? Do the margins seem good/bad for new construction investing? With 315k in the end and an estimated gross of 3k/month; is that better/worse than others have experienced with new builds? Thank you, Everyone.

Post: Building a duplex

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

@Steve Vaughan what is plex-ville? The 24 duplexes are being placed between two upcoming schools in the best school district in town. The new ones will be about 1000ft from each other and these 24 duplexes are going down between them. 

I will not need to refinance as there is no construction loan. I don't need any financing until the house is done being built.

The red writing is what I edited to the sheet he made me before I showed up. I edited it to fit my financing. Should cash flow about 150 per unit, with an extra 150 of cash flow per unit while I'm managing during the first 1-2 years.

Post: Building a duplex

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

The income/expense break out is on the right. He added that to the price list because he knew why I was buying. I edited it to fit my financing.

Post: Building a duplex

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14

Hey all,

I've been presented with an opportunity to have a duplex built in a to-be neighborhood to have 24 new construction duplexes. The area is the best school district in town, and right next to the schools. I expect the properties to be valued at the same market value it will cost to build; approximately $116/sqft. Today I met with the developer. He will be carrying the notes with a large loan to build them. He is one of the biggest and longest standing builders in the area. Luckily for me, this means no construction loan. Just a $1000 lot selection fee, that will go toward closing, and then securing financing after the home is finished. As a landlord himself, he gave me a small break out on excel of cashflow. I'm excited for the opportunity. Also, I would be living in one side for 12 months minimum. Please take a look over the paperwork and let me know if I've missed anything; or if there are any questions I should be asking I haven't. I've never had a property built. Also; 2/10 warranty from the builder.

Post: Newbie from Nevada

Andrew Johnson
Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 29
  • Votes 14
Fortunately, Nevadas laws for LLCs are a toss up for the best between them and Wyoming. Zero business tax, nearly full anonymity, and no information sharing with the IRS. So, being as it's your home state, I'm sure that may benefit you down the road when you consider it. My advice is to read read read! The forums are full of information and I believe BiggerPockets publishing put out a book on wholesales. Check biggerpockets.com/books . Good luck and welcome!