All Forum Posts by: Eliott Elias

Love where your heads at. Educate yourself on this Austin market, a good deal for investors here may not necessarily be a good deal for the typical RE investor. Increasing your income via cash flow is going to be tough here, the name of the game is appreciation and is how you are going to create wealth investing in Austin. 

Credit, financials, and background check 

Keep the cash flow coming and take out a HELOC! Unless you need the money now. If your market is hot and you believe there is appreciation to be made keep it

Have it up on the MLS and on platforms like Zillow. Putting a sign in the front yard is also effective

It's usually a red flag when they want to pay up front. Ask them why, and why they wouldn't just pay monthly. Who knows where that cash came from, they have leverage throughout the entirety of the lease when it's paid in full. 

Spend as much time as you are studying into networking. What the internet projects RE investing to be and what actual investors are doing in your area are two different things. If you talk to any investor they will say the hardest part is finding the deal, not the money

All up to you, if you believe you will have long term tenants with a low vacancy rate carpet may be a better option. I always put LVP in my rentals to avoid the turnover expense. 

All up to you. Are your renters higher risk (lower credit)? Charge them double deposit. If your market is hot applicants should have no problem with this

It takes A LOT of real estate to be able to retire off of real estate. When you quit your W-2 banks look at you as higher risk and are less likely to give you a loan. If you're genuinely unhappy with your job that's a different story, to be frank your path to financial freedom doesn't start by quitting your job. 

Take advantage of your sales job and practice like their sellers or your client. Get the hang of negotiation and building thick skin!

Read David Greene's out of state investing book! 

What do you want to do with the property. I suggest if you are newer to this process to wholesale the deal, contractors are going to keep you up all night if you plan to rehab. Find a cash buyer and put it under contract!