All Forum Posts by: David Light

The options are limitless in Texas. Houston, Dallas and Austin all have great opportunities from what I've heard. I'd research the cities and see what you like best. They all have different industries and factors driving growth.

Welcome Alex!

@Rod Brady we have three properties there and purchased the last about 6 months ago. I'd recommend Char Glidden as a good local realtor. We've used her for everything. 

I've been a lender on a flip there and looking to do my own in the near future. 

@Jon-Michael Clark we've never had any trouble renting our houses and have heard the same from others so makes me think there aren't too many.

Mathew Wray I invest in Abilene and have really enjoyed it. I self manage my properties but happy to share my experience in other areas. It's a great area.

@Cody Begg I don't have great insight into what the apartments will do to the rental market but having grown up in College Station have been amazed watching the growth. Form the university and businesses moving to town it is booming! Every time I've looked at investing there the houses barely hit the 1% test and I end up investing in another market where I've had better luck on the percentages and longer term tenants. 

@Tim Yearout welcome to BP! It's a fantastic resource.

Dustin Clarey welcome! I was in your shoes not long ago. The first one is scary but it's worth it sounds like you're doing the right things. Bigger pockets is awesome, when you find a property you like post your detailed analysis and numbers. You're sure to get some helpful feedback. Good luck!

Steve, for me it's not about the rent rate, it's about the return I can get, location and type of tenants. If those work on a $500 or $1500 per month property I'd go for either one. That being said, my preferences on the above have led me to houses that are $1,100 or more per month. I saw you're in Houston, hope you're staying dry.

Some good advice on accounting above. Other things to consider may be the ability to renovate while living in the property. A live in rehab, especially adding a bedroom, can be challenging and very stressful. It would also be worth comparing the projected rent of the 2 bed and 3 bed to the cost of the renovation. Sounds like you may have already don't that but thought it was worth mentioning. Good luck!

Do you own your current house or could you move in to one side of these? I've always wished I did a house hack to get started.

Yes sir, class of 07. I've done business with family and it's worked out, its just best to keep everything documented with loan agreements etc. I noticed on the financing tab you've got 4.5% as a rate. That would be low for private lending and impossible for hard money lenders so you might see what it looks like with a higher rate. I've been able to get 6% on my private loans.