All Forum Posts by: Austin Nicoson

Yeah man, if you're looking at a B/C grade 14-unit multi-family and can make the rehab numbers work with your expected ARV/Value based on the income approach, you could see some crazy equity gains much quicker compared to waiting for appreciation on your 4-plex.
Ultimately it depends on what your end game with the properties is; 

Cash flow for the long haul vs. a quick(er) turnaround on your capital. 
Best of luck!

@Alex Olson thanks man, that is helpful! Running all the various scenarios for HOA numbers will likely be the deal maker or breaker; just wasn't sure if there was inherently anything else to worry about with these types of communities.
Thanks again!

Hey all! I've been looking into potential fourplexes to purchase as my second REI and have come across several that are within "communities" of fourplexes. I know there would be HOA dues with these properties, but aside from those, does anyone have any experience/opinions as to their pros or cons versus a stand-alone fourplex unit?

Assuming (2) separate fourplexes were a great deal, would you prefer a stand-alone unit or one within a community with a pool, perhaps some other amenities, etc.?

Thanks so much in advance!

Hey guys! I’ve been following BP for a couple of years now and have finally taken action on an awesome home here in the Houston - Spring Branch East area.

My plan is to live in it for a year with a roommate then Lease the whole house out.

My question is...

Have you ever utilized a lease agreement for a roommate/house hack situation?

And if so, did you make any special provisions or additions since they were your roommate in as well as your tenant?

I want to make sure I keep things pretty official and straight forward that rent is due, for X amount, on this date, etc.

I appreciate any and all feedback!

Thanks @Dan Tran!

@Nicole A. Thank you so much Nicole, that’s all helpful info :)

No specific questions really, just seeing if there’s anything I hadn’t considered with this strategy or just general advice, things I should be particularly cautious of, etc. 

But it’s great to hear to hear of your experience, I really appreciate it! 

Hey all! If you could please lend any advice/experiences/lessons learned about moving into a SFH fixer upper w/ conventional financing + renovation loan, add sweat equity, refinance in a few years and convert to full rental, I'd truly appreciate it.

This is my strategy to begin my REI career here in Houston and considering Oak Forest area, so any locals with advice on that would be sincerely appreciated as well.

Thank you so much for your time!

@Will Pritchett absolutely man! Thank you for your advice.

@Jim Cummings True, I'm seeing the light Jim! Lol thanks man.

@Rina Risper Definitely, my next step is to build my team of trusted agents, lenders, and attorney. Then immediately start reviewing potential PMs. Thank you!

@Guifre Mora That's a great idea man! Maybe work out a deal with a long-term tenant to manage the property to some extent in exchange for discounted rent or something. I like it, thanks brother!

@Tamara Deering thank you Tamara!

Everyone's input has really helped inspire me to take REI seriously at this time in my life and try my best to find a great deal to start my career. No waiting!