All Forum Posts by: David Schmiediche

Even with this event unfortunately being cancelled we have just scheduled a meet up for March 11th Bryan College Station Meet up: House hacking 4plex. I hope you can make it to this one @Razen Thomas

Looking to live rent free while also building wealth? This is the meet up for you!

@Kyle Fry at the age of 23 is opening his door to his live in fourplex! Come and learn how Kyle purchased his home with minimal down, having someone else pay your mortgage allowing you to live for free, grow your wealth and achieve financial freedom!

Bring your questions and friends this is going to be a good one!

@Aaron Henricksen To answer the main question in the first paragraph "Do y'all have a sense of the condo/townhome market in BCS right now compared to SFR or small multi-family? Is one soft, while the other is strong? Or are they in line with each other?" They are for the most part in line with each other the College Station market is strong and the only reason I would say that condos may be slightly softer than SFR and Multifamily is because condo sales are very seasonal. Most condo buyers are parents looking for a place for their kids to stay while they are in school and avoid paying rent. Meaning if you try to sell a condo after August you have a very small pool of potential buyers. You will have more negotiation power and keep it in mind when you wish to sell as well. Put the condo on the market around March or April right when parents are looking for condos for their potential kids.

As for your second question Greg Schwartz is exactly right.

@Alvaro Rodriguez Howdy! About a year ago I was looking for my very first investment and because I only had a small amount of capital for a down payment I was looking specifically at Condos. They are hard to make cash flow because of the HOA fees and the condos on Cripple Creek Condos off of University Oaks intrigued me. They cash-flowed a small amount and would allow me to invest with little capital. After meeting @Gregory Schwartz and talking about his investment plan Multifamily became much more intriguing than Condos. Greg invested in a fourplex and after hearing about his success and asking him tons of questions I eventually followed in his footsteps and am very happy with the multifamily investments. Greg is a great resource to purchasing an investment and will be able layout the benefits of each type of investment and help you find the best way for you to invest your money.

With that being said Mary Whitworth is the Condo Queen in College Station and if you are still wanting to invest in Condos the three places I would look into are Cripple Creek Condos off of University Oaks and University Place off of Southwest Parkway (This seems like the best place in my opinion based off your investment plan in your previous post.) Twin City Condos, the condos off of Verde cash-flow as well and is not an area in town that I would want to invest in and some of my investors love these properties because they have great cash-flow. I hope that answers your question and don't hesitate to reach out directly if you have any other questions!

@Kathy Scott 17% is very impressive. Seems like a great deal!

@Kathy Scott Congratulations on the new investment! I do have two questions if you don't mind. Was it an off market deal? What's the return?

Howdy Caleb!

Congratulations on starting early and like @Kameron Yellin mentioned there will be a meet up happening in College Station on February 18th. It will be a great opportunity to learn from other investors and ask specific questions you have on investing in real estate. Based on your post the biggest problem if you have good credit is going to be showing income to qualify for a loan. Definitely reach out to a loan officer now and ask what you need to do in order to qualify for a loan by the time you want to purchase. Since income will be the biggest problem I do know of a loan officer that is able to help by taking 75% of the projected rent of a property and count it towards your income when qualifying for a mortgage. This will help with being able to show income for the loan. I would love to talk more about your specific goals! Don't hesitate to reach out directly!

@Juan Salazar Howdy Juan! Congratulations on the sell of your homes in Austin! College Station is coming up with some crazy ordinances on STR. With that being said they are still very profitable investments. On deciding what to do with the proceeds does come down to what it is that you are wanting to do. From your last post on wanting to possibly semi retire in ten years apartments or multifamily investments does seem like a good investment for your goal. Even though you have never done commercial investing it would definitely be worth looking into and you could even invest in a package of quadplexes or duplexes. Congratulations again on your success and best of luck with your future investments!

@Kameron Yellin Great price! What's the current return with it being Owner Financed? Also, what is the interest rate if you don't mind?

@Kathy Scott Thank you a lot that does help out with the tenant situation!