All Forum Posts by: Chris Webb

As someone who has no knowledge of the area I would add to get in touch with a few rental agents and ask about the market rents. With this information you can evaluate on paper if the investment makes sense. People tell me all the time that BLANK is a good market to invest in, but according to my metrics it often does not make sense. Math is math and once it passes the math test for me, I will explore further. Good luck in 2022!!

Hi @Hasan Jessa, always begin with your criteria and desire to own in particular area. I am in central Virginia now and I would probably pass on investing here because of the oil heater situation. I am not interested in it at all. So I will continue with my Texas and Florida investment areas. It can make sense to invest here, but I have no desire to. Sometimes decisions are made from the gut. Best of luck in 2022! Also, if you need a Realtor in Frisco or north DFW let me know I have a great one. 

Hi @Tanner Kenneth Jenkins, because you are single take advantage of house hacking and get roommates to pay your mortgage for a few years then move out and have a fully funding property to base your investment career on. Also, look at the numbers and see where a good fit for you is. I recently lived in TX and it just wasn't a good fit.

Also, there are many options out their for financing so explore them, especially if you are having someone else pay the bill. 

Great Job!!

If you need a second opinion, I went through the Texas Insurance program for my job and I know a few local (DFW) agents who could give you another look. 

Hi @Debbie Richards. I have an insurance license from a previous career (not sales) and I know that you may have to talk to several insurance people, If you need a referral, let me know. There are lesser known, but still reputable insurance firms that can insure people who have been rejected. 

House hack while in college and up until you get married. This will give you a solid financial future to grow your investments over time. Also get an advanced degree with some sort of statistical background as early as possible as it is an asset that will always be with you. Statistics and math does not lie. 

Hi @Aaron Ross, how are you measuring your return? I can help you make one. 

I use cash on cash return and it looks like you will get a negative 5.45 return meaning that it will cost you every month to own the property. This assumes a vacancy and repairs rate of 5% (5%of 2500 = $125 - so $250 off the top each month) I assume you will self manage so I left that at 0. I also assumed no closing costs but that is probably not true. Your yearly earnings assuming the vacancy and repairs of $300 is negative $600. Here is the math - (2500-2300-125-125)

I hope this helps. 

Hi @Grant Huckestein, what are your closing costs?