All Forum Posts by: David Chappell

 Thanks! Its tougher to find cashflowing deals in today's market...if a few thousand +/- on the tax bill puts you into the negative then the margins may be a little too tight for it to make sense. 

You could spend some time on Zillow and find properties that you know are rentals (non owner occupied, non homestead) and are the same value and then lookup their tax records on the city site to see how those look.

I would check and make sure you arent comparing property taxes for owner occupied properties vs investment properties. For example, in Alabama where I invest, non-homestead properties are sometimes double what owner occupied ones pay. Using the rates from the link below, it estimated non owner occupied taxes to be $3352...so $4200 is a little high but not too far off. I estimated the taxes incorrectly on my first property, I ran the number as an owner occupied but when I lost that exemption, the taxes went up 2x and wiped out a majority of my cashflow but rents are slowly rising and Im catching back up.

https://www.roomsrealty.com/mi...

If you do a few google searches with the terms below, that should spit out a list of wholesalers paying for advertising/doing search engine optimization for those terms are wholesalers 99% of the time.

city name + sell home fast
city name + buy home cash
city name + home buyers

I own rentals there but have recently been looking for properties to fix and flip. Slam dunk deals have been hard to come by, Im on the list of at least 20 wholesalers and actively participate in FB groups to try to find deals but it's been tough. Going after your own deals would probably yield better results. If you are looking for properties to flip in the sub $125k ARV range it will be easier to find deals as there are a ton of $30-40k properties that need some work to get around $85k on market. As a backup plan I make sure that all of my properties would be good rentals, and anything under $100k ARV is hard to get long term financing so I leave those alone.

But deals can be found in 35228, 35211, 35214 areas if you buy on good streets.

Hi Aubrey, I own some LTRs in Birmingham, AL so I have a great team down there. My wife and I own an STR in Surfside Beach, TX that we manage from Austin. Would you be interested in hiring a co-host for your listing? That route could be cheaper than a full service management company and I could manage the listing and handyman side of things. Feel free to PM me if you want to discuss.

I paid a scraper on Upwork to gather all data points from city-data.com and threw it in a sheet for me. I use that to analyze the overall trends of a city and then use quantmaps.com to check stats (crime, median hh income, etc) on the micro-neighborhood level.

Here is the link if anyone wants to take a look - https://docs.google.com/spread...

 I will send you a PM to connect further, thank you Julio.

@Julio Gonzalez does your firm provide tax return assistance for investors using the STR loophole you mentioned above?

I agree with Michael, if I cant find 4 strong comps that fit the below criteria then I usually stay away. I have heard a rule that its better to go back in time (from 6 months to 12 months) than it is to expand the search from .5 mile to 1 mile.

Built within 10 years +/-
Same Garage/Carport
Same # of floors
sq foot within 25%
similar lot size
similar exterior (siding, brick, stone, etc)
.5 mile away and 6 months back
purchased by the same type of buyer you are expecting during an appraisal (dont let a bunch of $40k wholesaler bought comps scare you away, use court records to find properties that owner occupied people bought and the price they paid for it)