All Forum Posts by: Danny Webber

Steven,

Austin's market is overpriced in regard to rents vs PITI's +. Rents have not kept up with the market in most areas. You can go to a few areas outside the city and still cash flow some. Need more details.

Kai,

You need to get more specific on what you are looking for, dn pmt amt, cash flow expectations, ltv, appreciation, etc...Austin is a good market for some things and not for others. 

Danny

keep in mind that underwriting guidelines for loans are changing daily and not getting any looser.... another drag on sales/purchases

There will def be some fallout of airbnb style investments as well as SFR sales. It is unavoidable. No telling how much though. It's not like Texas has been immune to unemployment claims at this point.

Work on identifying very specific goals for REI. This is the number one reason RE Investors fail.

What do you want in $

When do you want it

How much risk can you tolerate

What assets do you have to start with or what assets can you acquire

etc...

PS: Don't quit your day job anytime soon! REI is not an overnight process.

It all depends on your REI goals, down pmt, exit strategy etc.... Any house/multi could work for you without a plan.

File a petition at the JP after sending a certified demand letter to mgt. Make sure your ducks are in a row when you go to court.

1-4, seller fin addendum, + other docs as needed. i always have a bunch of extra disclosures to cover myself as well

depends on your assets, income, time, knowledge, etc... there are many ways to make things work here

keep it and owner finance it out, collect a note and not rent