All Forum Posts by: Gautam Venkatesan
Gautam Venkatesan has started 11 posts and replied 586 times.
Post: Cashing out 401k to invest in RE
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Steven Hamilton II:
I strongly suggest in most cases the loan from the 401k. As you can deduct the interest you are paying yourself.
Post: What's your Real Estate Investment goal or dream?
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Thomas S.:
Many have a goal of achieving enough rental income to live off of with the belief that it is passive income. That is short sited goal planning. That would be my definition of work in the form of responsibilities..
My goal was to accumulate enough wealth to be able to sell everything and retire. I no longer require the rental income as I have achieved my goal and am simply passing time till I decide to sell.
Hi Thomas - just trying to understand your comment. Accumulate wealth through mortgage paydown or appreciation or something else??? How do you plan to sell all your properties without a huge tax event?
Post: Texas Property Tax Blood Bath
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Post: Texas Property Tax Blood Bath
- Investor
- Dallas, TX
- Posts 619
- Votes 128
https://www.dallasnews.com/news/watchdog/2017/04/20/file-texas-property-tax-protest-must
Post: Spartan Invest - Birmingham Turnkey Case Study
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Chris A.:
@Gautam Venkatesan
PM fee: 9% of monthly rent
Lease Up fee: 1st months rent (they only sign 2 yr contracts)
Same Tenant Renew: $500
They didnt list a eviction fee in their agreement. Maybe @Clayton Mobley can weigh in?
If it isn't specified in your PM agreement you may want to reach out and find out about other fees when things go bad. Like if rent is late who pockets the late fees? What is the process to evict and which party is responsible for what, what are the typical costs/timelines, etc. Ideally it is a passive investment for the most part but you need to be prepared financially/mentally for those hard times. Good luck on your journey!
Post: Spartan Invest - Birmingham Turnkey Case Study
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Chris A.:
@Gautam Venkatesan Thanks for looking out, my 3rd party inspector just finished his inspection and I have forwarded the report to Spartan. Waiting to discuss what items should be addressed before the sale moves forward to close. What items should I expect to be addressed with no questions asked?
If this property is being sold to you as turnkey, if it were me, I would want to make sure the mechanicals will survive for another 5-7 years, that everything is up to code for that city/county/state, basically try to minimize huge capex in your first few years of ownership. There will always be repair items you just want to limit them :)
Post: Spartan Invest - Birmingham Turnkey Case Study
- Investor
- Dallas, TX
- Posts 619
- Votes 128
@Chris A. can you share some numbers from the PM agreement with Spartan? Monthly PM fee, lease up fee, fee if the same tenant renews lease, fees for eviction, etc?
Post: Spartan Invest - Birmingham Turnkey Case Study
- Investor
- Dallas, TX
- Posts 619
- Votes 128
@Chris A. hope you are planning to get a 3rd party home inspection before closing to make sure the scope of work agreed upon was completed and its up to code for that city/state.
Post: Morris Invest Case Study 2.0
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Tyler Jahnke:
my monthly cash flow would be $375-$400 per month, depending on how conservative I am on expenses.
-Tyler
Did you pay cash to purchase the property? $400/month for a turnkey property is awesome!
Post: Best Side of Indianapolis?
- Investor
- Dallas, TX
- Posts 619
- Votes 128
Originally posted by @Nate Hammond:
Is anyone currently investing in Indiana (specifically Indianapolis) from out of state?
Lots of BP members do! Did you have specific questions?