All Forum Posts by: Bob Houston

I would like to do a cash out refi on one of my rentals so as to buy another property...once I initiate the refi, do I have to start paying back immediately, or can I set it up and " pull the trigger" once I find the property I want to buy? How long does it typically take to complete a cash out refi?

Lease is going to expire next month.

Got a text asking us to lower rent. We said we would not raise it, even though taxes went way up.

They said they are not sure if they can continue to make rent (guy lost his job due to covid).

Need advice as to how to handle.....

1. Do not renew lease?

2. Go month to month?

3. ????

Thanks for all the input. I just started advertising and want to do it right. I will stick with the 3x and see how it goes.

SFR is in the Dallas TX area which is a red hot market right now. Rents have increased a lot over the last few years.

I am concerned that requiring 3X rent as a monthly salary may be unrealistic.

- it is a 3 br, 1.5 bath, 1 car garage in 75126

- rent is $1350/math

Input?

Thanks Greg for the good information.

Hello BP'ers...i am a new investor and have purchased my first SFR. My head is starting to spin regarding insurance options. Any advice e is appreciated.

Here are the facts:

- house is in our LLC (per our CPA's advice)

- paid $70M and put $1M in rehab...paid cash/no mortgage

What insurance do I need and how much?

Any referrals to a good agent?

I am in the Dallas Texas area.

Thanks in advance.

thanks for the quick replies. Anyone have input on the "personal versus business" portion of the question?

Made our first deal on a buy and hold. Is it better to pay cash or finance personally or pay cash or finance through our business?

Thanks for the input Mindy, interesting strategy. I am married, but I don't think my wife would want to move every couple of years!

I do not have J Scott's book yet, but am going to get it soon. I do visit his site quite a bit.

Hello...I know the lead management tool is in beta right now. Does anyone know when the roll out will be? Also, will it be a separate charge to use? Or, will it be included with subscription? Any known details would be helpful. Thanks in advance.