All Forum Posts by: Zacharias Salva

Good morning y'all!

My wife and I are new investors (4 years in the game) in Dallas Fort Worth focused on MFH buy and hold.  I'm very passionate about real estate and have thought a lot about getting my real estate license in Texas.  However, I'm doing a feasibility study on obtaining a license, and I'm not sure if it would be worth the money, time, and effort if we're only buying one investment property a year.  Would it be possible to sell one or two houses a year for clients to cover the costs of having a license?  Is this not realistic?  I know that there are like 30,000 something real estate agents in Dallas, most of whom probably work full time.

Currently, my primary career is in enterprise tech sales (which I am also very passionate about), and I'm not willing to consider switching careers at the moment....

Also if anyone in DFW would be interested in coffee, I'm always looking to meet some like minded real estate professionals!  We live in the Allen area :-)

Good morning bigger pockets forum! I guess you could say I have been in the real estate investing game since I was around 25 years old… My first investment involved buying a house outside of the army base that I was stationed at and having several of my roommates live with me to essentially pay the mortgage. Fast forward to five years later and I still only own one long-term real estate position. However, my wife and I have become students of this game and for the last several months have saved our butts off in order to come up with the money for our first multi family investment in Dallas Fort Worth. We live in the Allen area currently and are still searching for the right property, but in the meantime I have been thinking seriously about obtaining my real estate license. I happen to enjoy my current career in enterprise tech sales and wouldn't want to do anything that would jeopardize it. However, I have a passion for real estate just like I do with technology and I'm thinking that if I can sell one house per year in Dallas Fort Worth along with being able to purchase additional investment properties ourselves without involving a buyers agent, that would be enough to justify obtaining a license....or would it? What do you all think? And by the way, if anyone in this community who lives in DFW would be interested in meeting for coffee, I would be much obliged!

How's it going all,

I've been a member on BP for several months now and am based in the Kansas City Area, but I have a question which I would like to direct to any members with their fingers on the market in Miami, Florida.

I have a friend moving to the United States soon with an interest in flipping houses in the Miami area - he's coming in hard with more than enough capital and wants to get into the business.  He also possesses around 10 years of experience in commercial and residential construction overseas.

What he lacks and really needs is someone that he could correspond with, perhaps meet in person who can help him quickly familiarize with the market there.  I promised him that I would at least do what I could to help him find someone!  Thanks for your attention and responses.

-Zach

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Thank you Brian. It's located in Andalusia off of East Trimmier. One of the Eddie Vale developments. I ran my numbers again and my losses were a bit exaggerated with my first assessment. This is a beautiful new home and built rather well to boot; the market here is stable and they are almost finished with the stagecoach/195 hwy connection which I think 'might' begin drawing this area into the north Austin commuter distance.

Where do you see this market headed with some of the units on fort hood getting deactivated?

On my long drive from Kansas City to Texas, I happened to listen to a TED talk on the subject of investment in Africa, in which the speaker alluded heavily to the real estate potential in South Africa. Just curious if anyone has turned their attention towards this particular country or other countries in Africa. As an investor I would be extrememly hesitant to assume the risks involved - perhaps my bias overweighs this presumption. However I'm just prodding the cow to see if anyone out there at least shares an interest.

Thank you all very much for the input. I was not expecting so many people to chime in. What a truly outstanding, mutually supportive, and motivated forum community!

Thank you for the input. This just confirms my suspicions. I have to wait until after I return from overseas to sell unfortunately, hopefully I can get a decent price on the sale. It was not well thought out, but oh well.

Well, I didn't really plan on this being a rental property. But it wouldn't make sense to have a neg cash flow. He is a good friend, I probably wouldn't do it for anyone else. I'm wondering what keeps other owners in this neighborhood renting instead of selling. Who knows. Maybe they're not as motivated with cash flow and more focused on equity appreciation.

Hello,

I could really use some help analyzing my first rental property. I financed this particular house - newly built in 2013 - as my residence using a VA Loan, (no money down) for 168,000. The home is located in Killeen, Texas which is a military town in case you haven't heard of it. It is quite possibly the lowest value home in this neighborhood. I'm on a cul-de-sac with a 320,000 home on the left and a 200,000 home on the right. I will be moving out at the end of this month and already have a tenant in place, renting for 1200. The low rate was a personal favor to someone I know, and after one year the rent will go back to 1300 and stay there.

If I'm doing this analysis correctly, I believe I'm projecting a negative net cash flow. This is a bit vexing to me especially because the other homes in the neighborhood are renting for a similar price but have much higher values overall.

EFFECTIVE GROSS INCOME (10YEARS) @1300/mo.

Potential Rental Income = 156,000

Vacancy = 15,600

Concessions/Delinquent Rent = 1560

Net Rental Income = 138,840

OPERATING EXPENSES

Insurance = 15,000

Taxes = 24,326

Repair/Maintenance = 15,000

Property Management = 15,600

Landscaping/Pest Control = 4500

NET RENTAL INCOME AFTER OPERATING EXPENSES = 64,414

MORTGAGE EXPENSE (~$800 a month principal and interest) = 96,000

NET CASH FLOW = ................. - 31586

My question, aside from whether I am computing these numbers correctly, is should I consider selling this property instead of holding onto it? I have also already made an additional 8,000 in improvements.

What would you do as an experienced investor if this was YOUR first property? Thank you! -Zach