All Forum Posts by: Beau Fannon

They're doing well enough to give up 20%-30% of gross and all of the cleaning fees? 

Following...

Conversely, there are currently 122 3/2 SFH in Kyle and Buda on the MLS today and you would definitely be able to save money building your portfolio chasing SFHs in that area.

Currently, there are 26 duplexes on the MLS in Travis and Hays counties. Only one is in the Kyle Buda area. It's listed at $375k which is the same price we just bought our duplex for in Southwest Austin. You don't save any money by going outside of Austin for duplexes.

Absolutely right. We have 2 historical examples of significant house price decreases since the 1970's in Austin. In both instances, the price declines lasted about half a decade.  

My first real estate mentor tried to do a tear down and new build on a flood plain in 78745 just over a decade ago. The city gave her the go ahead to demo but once it was time to start building they shut her down. She got rope-a-doped. That lot is still undeveloped to this day. 

Chris Wolfe from California... are you the same Chris Wolfe that was in those Sharknado movies? 

Hey David, have you been running into more and more people especially cash buyers who are on edge about a recession?

I show them this local data but it doesn't seem to soothe their fears. How have you been addressing this issue if you've been experiencing a it?

That's my brokerage!

Your bank won't be the service that collects rent. You'll need a portal to do that which will act as an intermediary between your bank and your renters. You don't want renters making deposits directly to your bank anyway. 

I run my family properties through Cozy for rent collections. I do manual dispersements from the bank account to my family members using Venmo, Zelle, or a bank transfer depending on the person's situation. 

The brokerage I work with has about 400 units under management and uses a more powerful property management software called Buildium that handles almost every aspect. But I believe they have a 50 property minimum to join.