All Forum Posts by: Gil Segev
Gil Segev has started 9 posts and replied 100 times.
Post: Where to find cash flowing rentals in TX?
- Austin
- Posts 108
- Votes 47
Quote from @Joe Funari:
@Gil Segev I have been very successful helping other investors buy LTR's and Flips here in the DFW area. This time of year is always a great time to purchase investment properties regardless of exit strategy. Most of my buyers are getting sellers concessions on financed offers too. Which helps reduce your cash out-of-pocket at closing.
Thanks! I see a couple of folks mentioned DFW so I guess that's an area to consider.
Post: Where to find cash flowing rentals in TX?
- Austin
- Posts 108
- Votes 47
Quote from @Jordan Moorhead:
Finding B class rentals that cashflow will be hard anywhere in the US with housing demand. C class isn't all bad, we have quite a few!
In Austin?
Post: Where to find cash flowing rentals in TX?
- Austin
- Posts 108
- Votes 47
Hi all, I live in Austin and would love to invest closer to home after not so successful out of state investments. I chatted with several agents in Austin and San Antonio and it looks like finding positive cash flow in these areas is challenging without STR which I'd rather avoid.
Are there any locations in TX that still have a positive cash flow in C or better neighborhoods for long term rentals in TX?
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
Quote from @Afam Agbodike:
@Gil Segev I believe all of the states I posted above have many properties well under $100k. My method:
1. Go to zillow
2. Type in a state
3. Enter my max purchase price
4. Select the type of properties I'm interested in (such as single familty)
5. See what comes up.
I just did that for texas and it shows over 1,300 properties matching my criteria. Of course most wont actually work out, but I then start clicking around and see how they look.
After that I find a town that looks promising, and search the town name for rentals, to see what the going rates are. After that if it looks good I start looking in more detail at the town, does it flood? how is the crime? Etc. How long are the properties on the market?
There are many places with properties under $100K that look promising to me, positive potential cash flow and beating the 1% rule. I can't say they will meet your criteria, but my preference is to find properties that have been on the market at least a month. If I can get into contract I'll do a home inspection. I know it will cost money, but it will save me from buying a money pit. If you find a good real estate agent they may be able to connect you with a contractor who can give you a rough estimate for free.
Thanks! I did find a market I'd like to target and was now able to connect with an investor friendly realtor. I am hoping to start making offers soon!
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
@Afam Agbodike this is me trying another out of state market :)
I am limited by budget of 100-120k and not sure how many markets have viable properties at this range.
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
@Nate Sanow thanks! That was my thinking but realtors I spoke with said offers with inspection contingencies don't get accepted nowadays which I find unreasonable. I'm trying to reach out to additional realtors now.
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
@Sharon Rosendahl thanks Sharon! Did you end up buying properties out of state without walking them? Did your realtor walked the property for you?
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
@Joshua Janus thanks! I guess I need to reach out to more realtors.
Post: Buying properties out of state in today's market
- Austin
- Posts 108
- Votes 47
Hi all, I live in TX and would like to BRRRR out of state due to budget limitations. I am wondering how other investors inspect properties when out of state in today's market. From what I am seeing, reasonable deals on MLS go under contract in 24 hours and realtors tell me that offers with inspection contingencies have no chance of getting accepted. Some wholesalers I connected with are giving investors one hour to walk a property before making offers.
I don't think it's reasonable to have a contractor walk every deal I'm considering and it seems like a risk to make an offer based on a realtor walking MLS properties.
How can I mitigate the risk of major repairs in properties you can't inspect? Who can I work with to walk out of state properties?
Post: rehab estimation before putting in an offer
- Austin
- Posts 108
- Votes 47
@Aaron K. Thanks for confirming! This is essentially what I've been doing but somehow it's a topic that doesn't get covered very often in books and podcasts so wanted to see what others were doing.
I guess in the first few deals you end up with a potentially larger gap between the offer and final purchase price due to inaccuracies in your rehab estimate and renegotiations with the sellers after the offer gets accepted.