All Forum Posts by: David M Trapani

Disagree. Nothing blithe about it Apparently your mind is too limited to understand freedom of movement. There are numerous states and places to be. Freedom of movement is a Constitutional right. What you spend, where and how much - These are all, in fact, personal choices. Don’t appreciate personal attacks. Apparently, you are tied-down to one location (you don’t say where). You are responsible for your personal choices. Stop the personal attacks.You have been reported.

Flippant? Funny. Apparently someone drank the koolaid & may be bitter. Not my problem pal.

Great points Justin. Personally would not buy investment real estate in TX unless its NNN commercial (and have done so), for the very reasons you've stated. TN is the place to be. Sure, sales taxes are higher, but that's a choice of personal expenditures. Property taxes are relatively reasonable & no state income tax.

Is it free & clear? If so, Look into seller financing. Of course, be sure to evaluate using fundamentals such as location & running your numbers to determine if you will make positive cash flow & decent return. Also, if it needs TLC (but structurally sound - be sure to have it inspected), all the better, as you may use "sweat equity" (if you or friends / partner have skills) to renovate, maximize rental value & correspondingly appreciation. 

Yes, TX property taxes are high. Rumblings of property tax increases on STR's in CA, CO and yes, even conservative Sevier County, TN.

Cars are expensive to own, operate & maintain, make no income & lose value (usually). How about selling a car or two? If you live in a downtown (walkable) bike-able area or live near work perhaps no car is possible. Uber, Lyft, trains, planes & rental cars are options as needed. Had no car (by choice) for some 3.5 yrs. Very liberating. Cut costs. Loved it. Sold one high value car & put it down on a house. That house has generated income every month since. How much income was that car generating? All of a sudden had a bunch of cars again uggh. As much fun as cars can be, now selling a bunch. Time to get lean & focus on what's really important.

May wish to shift to MTR, LTR, sell or trade as needed. 

Sorry this is happening Brittany. Good job putting the word out. Yes, contacting representatives is a good idea. 

They're trying the same thing in California SB 584. Illegal and Unconstitutional imho. 

Lots of good advice & ideas here. Forgive me if already mentioned, suggest adding “business interruption” insurance on your str policy. When Covid closed str’s or water heater or other leak shuts down the business, etc., the insurance company may well compensate you for your losses based on past revenues. Can be a big boost.

Ryan,

Thanks for the heads up on the Austin case. Very interesting.