All Forum Posts by: Daniel Tisdale

I only heard to buy more income producing assets

Hi @Carol Small, just wanted to follow up and see if you found a good CRM to integrate with Propstream?

@David G. any updates to this thread? I'm interested in purchasing a short-term rental investment property in this area.

Hi @William Brock,

Any updates on if you moved forward with getting a STR in the Horseshoe Bay area? I'm looking for one myself right now.

Hi @Ryan Kelly, that's what I was factoring into it. I guess I'm more curious if there's an "optimal" amount of equity to leave in properties versus utilizing that equity to go purchase more properties.

@Jaysen Medhurst it is worth between 500K-525K and I owe about 305K on it. Right now the cash flow is around $700 per month on it.

Hi,

I have a property in Austin, TX that I just turned into a rental property and I have about 200K in the property. I am considering pulling some money out and either holding the cash until I find another property or just have extra cash on hand. My hesitation is wondering if there's enough equity to make a cash out refinance worth it as well as potentially waiting a year with how crazy Austin's market has appreciated. I am only 1 year into the 30 year mortgage at this point.

Any advice on whether or not this seems like a good strategy or if I should wait a little bit longer?

Thanks,

Daniel

@Joe Splitrock, it says no leases shorter than 6 months. I am hopeful that I can get the front unit to change that to limit it to 30 days or 60 days, but the 6 month time frame is really messing things up. Should I have a lawyer read over this HOA doc before proceeding with anything?

@Dell J. that I am not sure about. How would I find this information out?

Yeah I believe that I was told that there was an HOA, but that there was no limitation on renting it in a short term capacity, which is the only reason that I even bought the property. Having a separate unit with a garage apartment that has no kitchen is pretty much useless to me. It is just me in the property and the main unit has 2 beds and 2 baths, so more than enough space for me there. I was planning to make up most of the mortgage payment with the money from the short term rental and now feel like I should maybe try and re-sell it, so that I get out quickly, but that is clearly a lot of money down the drain already.