All Forum Posts by: Andrew W.

Hi Texas investors! 

Can anyone recommend a bank in Texas that will allow me to setup separate checking accounts for each Series of my LLC? 

• I've setup an LLC with a separate series for each of my rental properties (2 so far)
• I would like to set up a separate checking account for each series of the LLC.
• Chase Bank told me that they do setup accounts at the series level. 
• If posting a recommended bank, can you also please include what their balance minimums and/or monthly fees are? 
• I'm based in Austin and currently have properties in Houston and Killeen. 

I found a CPA, and got enough advice to setup quickbooks myself. Thanks all

I am focused on multifamily as well, and consider all Texas markets. 

Working on property#3 right now. 

I'm in a similar boat and curious what suggestions other folks have. 

Can anyone recommend a real estate savvy CPA for the following? We are buying our 3rd rental property and looking for professional help to setup everything up right before we expand to (hopefully) 5-10 properties.

-Rental Property bookkeeping (Quickbooks setup)

-Tax planning

-Tax Return prep and filing

-LLC setup

Can anyone recommend a real estate savvy CPA for the following? We are buying our 3rd rental property and looking for professional help to setup everything up right before we expand to (hopefully) 5-10 properties. 

-Rental Property bookkeeping (Quickbooks setup) 

-Tax planning

-Tax Return prep and filing

-LLC setup

I'm in the process of buying a fourplex there. I agree with everything said so far on this thread. It's definitely a cash flow market, not appreciation. 

My advice would be to find a property manager that you like (I like Gold Medal so far) and see what areas they recommend. 

I'm using Brian Adams as my Realtor, he wrote a great article about this topic: https://www.biggerpockets.com/blogs/10185/66309-killeen-fourplexes-the-best-multi-families-in-central-texas 

Hi all, 

I am amazed at how much apartment complexes are able to charge for rent. Here in NW Austin, a 2 BR duplex unit rents for about $400 per month less than a 2BR apartment in the same area. The apartment would is usually slightly more updated, but the duplex side includes a yard and 1 car garage. 

For the amount that people pay for luxury apartment in North Austin ($1700+), one could actually rent their own SFH.

1) Anyone have any explanations for why the apartment rental market and duplex/SFH rental market are so different?

2) Anyone have any strategies for a SFH or duplex landlord to reach potential renters who would otherwise choose an apartment (at a worse value in my opinion)?

-Andrew 

About me: I own and rent out duplex units in NW Austin, 1 year experience. 

Brendon: 

In North Austin at least, you will not be able to achieve this goal with a duplex. I don't think you could do it with a fourplex either, unless you buy it in bad shape and make significant improvements. 

However, I still think it's a good idea. In NW Austin (78729 or similar) there are duplexes for $300-400k that rent for $1100-$1500 each side. 

I'm living in one of them that I bought this year. I now net out paying $350 less per month than I did for my apartment in the same area. Compared to that apartment, my duplex side has 1 more Bedroom, 40% more sqft, a nice yard, a 1 car garage. So it's still a big win. 

If I was more aggressive and had more free time, I might start with a fourplex, then move on to a duplex once you want more living space and privacy. 

Good luck, and I'm happy to discuss further!  

Andrew