All Forum Posts by: Himanshu Jain

You can analyze any area in multiple ways. I would look at the City in general, the kind of demographics that it has, employment opportunities, business opportunities, population growth, peoples influx or exodus etc. that tell me if city in general is growing and what the prospects will be in coming year for example, if you are in Dallas - you would notice lots of influx of people, you would see lots of companies moving in and setting up there offices there, so all these are good signs in general and should be a good place to invest.

You can then start looking into specific areas within the city (@ micro level) and do the same for that area, when looking at a specific area I like to visit that area to see if there are new developments in the area, is there new office building coming up or a new dealership coming up, any new retail outlets coming up all those are good signs or vice versa.

 I also have reached out to the city planning commission to get more details on the master plan to see what they are planning for in the long run, I also like to get demographics information for a specific zip codes - you can go to zipskinny.com and compare different zip codes to get an idea. I like the demographics information because it tells you what kind of an investment opportunities will be available in that area.

Hope this helps

My experience is that banks typically expect you to have 20 to 25% in down payment and another 5% in reserve. Some of it will depend on your net worth as well. But I have not encountered any bank that would go lower than 20%, so the maximum LTV is 80%. You can time the closing, and try to close in the beginning of the month that way the rental for that month gets prorated and comes to you during the closing, allowing you bring less money to the table on closing.

I am thankful to BP for all the Podcast that motivates me and inspires me to do more and keep focused on my goals. I am also thankful to all the insights and suggestions that I receive from all the fellow investors on the forums.

I like complexes simply because of economies of scale. I think it depends on what you already have in your portfolio, it is good to have some diverse asset types in your portfolio to provide some liquidity, which you already have. If I were you I would go for an apartment complex now.

Hi Josh,

Welcome to Bigger Pockets. PM me and we can connect sometime

Himanshu

I would love to buy A class, but based on my experience financing these is really tough as these don't cash flow well, the banks usually wants a certain debt service coverage ratio and these being pricey really never works out. Untill and unless if you have lots of cash to put down.

Reach out to the city recorder office and give them the criteria and they can provide you that list. They might charge you some fee to provide those details.

I think the first thing to do is make sure you have a clean title, not sure how you closed and which title company you used. Ping me I can help you connect with some companies I have used in the past. The PM can do all that for you. Do you already have a PM or are you looking for one?

My experience is that most of the times you would not get to meet any of the tenants. Usually the agent or the owner would let tenants know of the showing and they are not there at that time. When ever I am interested in a property I go there on my own at different times pretending to be a renter, to get the sense of the place and then I would walk around and inquire about the place in general. Hope this helps.

I do not allow for dogs in any of my rental properties, because they can damage the property and the cost and headache of fixing things later is far more than any benefits.