All Forum Posts by: Bryan Noth

@Rory Kelleher the 1% rule really should be called the 1% guideline.  It is also highly market dependent.  Better cash flowing markets will tend have better rent to purchase price ratios.  What are you seeing as a norm for your specific market, especially for the age of the property?  And what market are you in?  Someone local may be able to help provide more poignant insight as well 

Welcome to BiggerPockets @Roberto Rodas!  Love your goals and keep us posted on your progress.  

@Karan Jhavar It is hard to give exact information, for that area I assume it's a 2 story 3 bed / 2 bath?. Is it updated inside or need work?

What I like about the rental amount you have is that it is affordable and likely has room to grow in the future.  

I would make sure foundation is good.  Through both disclosure and inspection, that area is prone to issues.  

@Renuka Lokare to answer your question on starting: Make sure your target market aligns with your specific investment criteria. You can gather market insight through research or connecting with a local expert. It may also be best to clarify your REI metrics. Is it purely cash flow, hoping to force equity through rehab, bring rents to market rate, long term buy and hold?

Then build your team: agent, lender, property management, contractor, etc.  The more precisely you know what you want the easier it is for someone to help you find or achieve it.  

@Jennifer Escobar the respective affordability indices for the Austin MSA shows continued upward potential.  Compare median home price to median household income for the MSA and Austin still comes in far under other major MSAs.  Simply put the demand to move here and jobs also created correlate with the price increase.  

Welcome to the BiggerPockets forums @Daniel Schintz!

@Mike De Lota If the comparable inventory suggests rents can go up then absolutely.  For housing programs you have to give market comparisons for current rates to justify an increase.  If the respective housing authority accepts your proposal then you can request an increase.  

@Mike De Lota it honestly is no different than any other tenant, the goal is to find responsible and considerate tenants either way.  As @Nina Hayden mentioned the process to qualify for the program can be arduous and if they violate stipulations for the program, such as violating lease terms, they risk losing the voucher.   To my knowledge the renewal process takes considerable time.  It is important to note that housing vouchers can come from different entities: county, city, etc.  I have multiple voucher tenants with different programs and they are mostly similar but not entirely the same.  

Welcome to the BiggerPockets forums @Christopher Palsgrove!  Glad to connect!

Welcome to BiggerPockets forums @Luis E Zarazua!