All Forum Posts by: Henry J.

Marty Joyner I think it is necessary for you to know your investing / buying criteria before you buy anything. You should also know the city before you buy there. Definitely visit and meet the provider in person to check out the quality, operation, and people. IMO that's the price of doing business. If the company rep can't guide you to figure out what you should buy, but just sending you deals to choose from, they need more training before they can help you. From the look of it, it seems the rep is selling you units he/she hasn't even thoroughly reviewed. That doesn't give me confidence in the provider / marketer either. If this provider is so well known / like on BP, it may help them, as well as others if you post their name and give them a chance to explain. Just a thought. By the way, nothing wrong with REIT, crowd funding, notes, private lending and anything else that's RE related. Different risk / return / avenue to make better ROI than what the banks offer. Good luck figuring it out. Henry

@Vindy M.

I have a property in Keller area.  This last round of tax increase is pushing my mortgage payment past my rent so I'm on the fence to figure out my next step.  Property tax increase is really hard to deal with when the rent increase in the area hasn't caught up.  

When I calculate my cash flow, I only account for repair reserve, PM, mortgage (PITI). You should also account for Capex (~$200-$250).

Good luck.

Henry

Jared Samsel Do you have enough income to contribute to your ROTH IRA and continue investing in your REI? If you can afford it, you should continue to contribute. ROTH is tax free distribution after you turn 59.5, and principle can be withdraw after 5 yrs (pls double check this). Once you build up enough fund, you can set up a self directed ROTH account and do HML or private money loan, notes, or invest in syndication deal, and all return will be tax free. If you invest those from your regular accounts (non-retirement), you will be paying taxes based on your income level. Good luck figuring it out. Henry

@Amit Kal

Thanks Amit.  I'd love to hear from other investors about how good these terms are for mortgag when it's more than 10 loans.  

Henry

@Amit Kal

Is Capstar's investor mortgage limited to the 1st 10 loans for Fannie / Freddie type of loans?  Or it is over and beyond the 10 Fannie / Freddie loans?  What's their limit on # of loans / mortgages?

Thanks.

Henry

@Tony Stephenson

Just sharing my experience.

I got 2 MLS properties and inherited 2 tenants. My PM checked with previous landlord and confirm payment history, verified their income / credit and approved them. 1 tenant is still at the property after 4.5 years. 1 tenant moved out after 2 years. I didn't have any issues with them since my PM approved them.

My TK properties got tenants in before closing but they were approved by the TK provider / PM.  If TK provider, hopefully is also the PM, didn't include the tenant then I think he/she will place a tenant for free.  You will have to check your contract with your TK provider.

Hope that helps.

Henry

@Mark S.

You are right.  I should have wrote "if you can contribute more than IRS limit..."

Joel Bowen I can't see the images on the app so I will have to try it when I get on a computer. Here is a quick general guide - Look for low fee/cost whole market mutual fund, not actively managed fund. Allocate % based on your age into stock / bond fund. If you have Roth 401K option, use it because the contribution will be after tax and future distribution will be tax free. If you contribute more than IRS limit yearly, those extra contributions are after tax so are considered Roth when you move them out of your 401k. If the sheet didn't include fee %, pleas ask you HR or 401k plan manager for it. Good luck figuring it out! Henry

@Steven Mitchell

Some area of Memphis have city and county tax, that's the reason why you need to provide address for people to tell you.

Here is the site for Shelby county - 

https://www.assessor.shelby.tn.us/content.aspx?key...

You can find the property tax calculator on the left side if you know the municipality and property appraisal value from the county.

Henry

@Justin Sumulong

You got plenty of opinions above and many people shared their experience and path already so I will skip mine.  MBA title may not worth anything to your current / next job, or RE, or your next deal, but if it is important to you, do it.  YOLO so it's important to live it how you want it to be.  Good luck figuring it out.

Henry