All Forum Posts by: Cameron Tope
Cameron Tope has started 14 posts and replied 1752 times.
Post: My first house-hack
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Sounds like a home run deal! Well done!
Post: 2024 Real Estate Investing Goals
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Great goals! Our main goal is to grow to 300 doors under management!
I have found focusing on my daily or weekly actions, rather than the outcome, help make my goals a reality.
I see a lot of folks want to buy 1-4 properties this year but don't have a daily goal to analyze 10-20 deals.
Best of luck to everyone in 2024!
Post: Houston/Southeast Texas area!
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Congrats on the long-term rental Kaycie!
Maximizing for cash flow over the next two years will create a different strategy over maximizing cash flow over the next 10-20 years.
I'm not a fan of STRs as Houston is super saturated but they do create more short term cash flow.
If you're looking to maximize cash flow for the next 10-20 years buy a few solid properties in Katy, Cypress, Spring, etc. where there are great schools and affordable rents.
Best of luck!
Post: RE Tax and Portfolio in multiple states
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Hey Tiffani,
I invest in Ohio and Houston, and found that that you don't need local CPAs or accountants as the real estate deductions are the same across the country.
I do use a company that reviews my books, does some tax planning and files my taxes as well. For me, it was simpler to find a company that does both the planning and the filing.
Best of luck!
Post: Newbie, starting in the next 3 months, please review my plan
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Plan looks solid! As far as the area, I would select the area where you have the biggest competitive advantage. If you have no advantage in a given area, then build a really strong team.
Best of luck!
Post: New Investors advice: Dallas/ Rochester/ Houston ?
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Quote from @Andrew Postell:
@Ethan Li this is a very common topic of discussion - which city/town is better for me to invest in. And it's ALWAYS the same answer...which city/town do you have people that you trust?
I'm saying this as a 15 year, out-of-state investor - my recommendation is to ALWAYS choose whatever city you have the most trustworthy contacts in. Keep in mind that you may never see your asset. That's an ENOURMOUS amount of trust/money to put into a stranger's hands. What I mean here is that if you know someone in a different city...but that city may not have as good as numbers as this other city...then stick with the city where you know people. One wrong move, one wrong contractor, one wrong vendor will erase any "benefit" one city has over another. Your network is the most important piece for any potential returns when you invest out of state.
So, which area do you have good people in that you trust?
I couldn't agree more with Andrew - the best area to invest is the place where you have a competitive advantage. The biggest advantage you can have is a rockstar team.
Best of luck!
Post: What would you do for flooring - LVP or restore/refinish existing wood floors?
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
When we've quoted refinishing hardwood floors, it's about the same price as new LVP so we go with new LVP.
Post: Property Management in Little Rock
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Hey Brittney,
Start with NARPM!
Best of luck!
Post: Looking for an Experienced Mentor to Partner With
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
Hey Steve,
Sounds like you're off to a solid start!
Be cautious of folks who talk a big game or spend a majority of their time coaching instead of actually doing deals.
There are some great investors in Houston but also scammers.
Best of luck!
Post: PM areas of improvement
- Property Manager
- Katy, TX
- Posts 1,807
- Votes 1,392
IMO the main reasons folks hire a PM is to reduce liability and because they don't want to deal with it.
If your PM company doesn't understand and abide by the state property code and is always asking you as the owner what you want to do, then why hire them?