All Forum Posts by: Steve S.

My goal is to build a portfolio that generates $5,000 in cash flow per month.

I generate about $5,000 per month in spare cash from my job that is part of how i built up my investable funds.

Would I be best served hooking up with a real estate agent?  I'm in the DFW area.  Not sure if my investable portfolio matters so apologies for sharing if not appropriate.  I know this is a small or very small amount to some and a huge amount to some but I'm trying to be transparent about my goals and current position so I can short circuit my goals of generating $5,000 per month from rentals (single family or multifamily) as soon as possible.

What would you think is a reasonable amount of time to build up a portfolio that generates that much cash flow?

very helpful. Thx

So at $4000 that's $333 month. If renting for $1500 how does that all net out?

I'm curious if there's any tools or obvious formulas that could help me understand turner impact of property taxes in a rental property I may buy. 

As an easy example, let's assume property tax rates are (2% - that would be nice ;)) and the property is appraised at $200,000. 

That means property tax would be $4,000 for the year. 

If I'm in the 28% tax bracket, how much of that could I write off and is there a general ratio or percentage that could be applied for quick back of envelope math?

I'm thinking, although I'd have to pay $4,000 that I could write off some of that in a way that my net outlay wouldn't be $4,000 when all is said and done. 

Is that correct or is it just interest that could have a net positive impact?

Do most of y'all own your rentals through a corporation you form?  How important are these considerations when purchasing rentals?

 @antonivanov I noticed there's nowhere to put property tax info in on the worksheet. Am I missing something?  In Texas that's typically a fairly large expense at > 2%. 

[Edited] Ft Worth, Tx

1950 sq ft 

4 br / 2 BA 

7,000 sq ft lot

They are asking $175k for it. Based on what other tents are gong for in the area it seems like this could rent for about $1,600. 

Just based on numbers and not other things that clearly matter like schools, specific location of property etc, how would you rate this opportunity?

I'm looking to make my 1sr rental acquisition and was curious of the smart group here's opinion. 

Obv the 2% rule is tough in Texas. 

Will I have to look out of state or are there good rental opportunities within 100 or so miles of DFW?

is there a good app that is ubiquitous and many people use?

They have acres for sale for $80,000.  Haslet is north of Ft Worth about 15 miles and just east of I-35W.

I've never bought land before.  This land comes with an obligation to build in the next 5 years with a single builder (who is selling the land) and the house must be at least 2,400 sq ft. 

There's also options to have minimal livestock on the land.  No horses, but there are other options / stipulations.

My thought is the DFW area is booming and will continue to do so as people flee the oppressive governments of other states until there's no where to flee.   This is driving significant growth to the Texas population and DFW has maintained a strong labor market as a result.

Is there anyone out there with more insight than I have as to whether or not this would be a good place to park $80,000?  5 years is both a long time and not a long time but I don't know how to value this opportunity.

Thoughts?

anyone have any experience regarding this general area (including a bit north and towards Addison to the west)?

I will use this as a rental and am curious about cash flow possibilities etc. 

Thanks!

@Luke Shivers

Luke,

Thanks for your post. Most of my investing experience is in the stock market so I'm looking to diversity some of my holdings into real estate.

In general, not sure if this is a horrible time to be investing in real estate in the DFW metroplex or not, but I'm starting to dig into how to do the necessary homework to identify quality investments.

I'd be curious of any information you have to share.

Thanks for taking the time to respond.

btw, I tried to send this as a message, but apparently I have to upgrade my membership in order to do that.