All Forum Posts by: David Sandvig

Welcome!  It's a great community to be a part of!

I'm always up for discussing Austin area real estate!

@Galen Ikonomov I fought a few properties. I was unsuccessful on the ones that were probably still below market value, but I got one down 7.5%.

Welcome to Austin!  Happy to have you here!

Solar panels definitely add a level of complexity for realtors, but I don't think it's as cut and dry as "they're good" or "they're bad".  Sellers' agents need to make sure they know if the panels are financed/if anything is owed on them. Buyers' agents need to look at the monthly savings, think about that and discuss it with their clients, and factor that into their offer.

Like any investment, you can make or lose money on solar panels.  Similar to real estate, getting creative can mitigate risk and add upside though.  Ultimately I decided it made financial sense to add them to my personal house, but not to my investment properties.  I might add solar panels on one of my properties, but the roof doesn't have a lot of life left in it right now.  I'd probably talk with my CPA and find a way to get creative utilizing the Form 3468 Investment Credit.  I'm not an accountant though; if you're thinking about that I'd talk to a CPA.  If you're thinking about eventually doing a 1031 exchange with that property, I'd also discuss that with your accountant and/or a 1031 exchange intermediary.

I love the conciseness.  It definitely beats sitting through the 4 hour meetings.

You'll probably have more turnover too, which will make it easier to raise rents to the current market rate and perform regular/annual maintenance.

You're definitely in a great spot!  I would probably talk to a CPA or a lawyer first.  They'll be able to help you with your specific situation. I'd also talk with your insurance agent and make sure you're happy with your coverage.

I like to keep track of all the transactions for my real estate income and expenses in one place.  I started out with a very simple spreadsheet and am currently using www.stessa.com.  It was easy to set up, and I wish I'd started using it sooner.  There are other paid services, like Quickbooks, that probably offer more features/functionality than Stessa.  If you have the finances organized well, it will probably make it easier for an accountant or lawyer to help you out too (which will also save you money since it will take less of their time to help you).

I’m an agent and investor, and I’m always up for connecting with other investors!

I usually focus on buy and hold long term rentals.  I haven't seen much that excites me in 2022.  So far this year I've invested in a few syndications instead.  I've got some cash ready to deploy or go into another syndication with.  Recently I've seen a few deals in the Austin area that are very close to being interesting to me, but not quite there.  I think there will be some opportunities over the next 6-18 months in Austin though.  I also might try a short or medium term rental in the meantime.