All Forum Posts by: Timothy Edwards

So, what are people using the loan funds for? I own a rental and it is vacant. To get rents up, it needs numerous projects completed.  I haven't found anything that says the loan funds may be utilized in this fashion.  Yet, haven't seen anything that says you cannot. Any  ideas?

@Brandon W.It would be great to get some insights from you! I sent a connect request with a message; let me know if you got it.  I’m in Austin/San Antonio area and love the business model of subleasing with distressed homeowners or non-owner occupied.

New investor, within 30-45 days of closing on first SFH investment property. I will manage the property myself. Prior to renting out fit the first time, what are the players I need on my team, ranked by importance and why? I am referring to accountant, tenant-screening applications, attorney, etc? Being my first deal, I want to be conservative with expenses, but don't want to save a quarter, just to lose a dollar later!

Sorry term I will have it as my primary residence initially for the first year.  I forgot to put that in as well as the comps.  Rent comps are 1100-1250. Maintenance I have at at $200 a month. There is ZERO rehab costs;  it is like new including new carpet

Home is 2006  1354 sq ft 3/2/2 in immaculate condition - walked the home, it needs literally nothing. Home is one of only three on the street less than 2000 sq ft. Kitchen appliances convey, no fridge.  Short sell offer of $95k.  Comps have come in from $115k-127k, and none were in pristine condition.  Shortsell situation.

• HOA $250 annually
• Taxes $2000 annually
• FHA loan so PMI of $420 annually
• Home owner's insurance $-500 annually
• PM assumed 10% of rent (I will manage, but keeping it in the formula)
• Vacancy 8.3% assumed
• Administrative Fees $240 annually

I have utilized buy and hold spreadsheet (30yr long form) on BP Fileplace.

Home in NE San Antonio, newer homes, newer retail and GROWING.  Area of home is nearly built out, not just neighborhood, but surrounding area allows for little new home construction.  Looks to positively cash flow, rent demand outweighs the supply considerably.  What am I missing? 

Thanks in advance for helping out a true newbie. 

@Tim Touchette 

Tim, I am curious to know more about the whole corporate rental niche you are using (I sent a colleague request along with more info just a bit ago before I saw this post).  I am tying up an '06 3/2/2 that is exactly what you describe here.  1342 sq ft and is completely turn-key - looks brand new and was a short sell.  It's located in NE San Antonio where numerous engineers come and go due to the oil fracking boom.  Would love to learn how to find these 3-6 month-stay travelers! 

Thank for all the quick replies! Good stuff

@Jarrod Weaver @Dusty Warner 

I should clarify that I am happy with my realtor - she is an investor, but has limited access to MLS in other areas I am interested in. An additional partner/realtor is what I was looking into the possibility of. There are two additional realtors that do investing as well, that want to work with me, and they know what I am looking for.  Could I work up a partner agreement with them? They wouldn't get a commission on a sale, but I could bring them in for a % of profit at time of the flip if they originally found the property, couldn't I?

Hey everyone,

I apologize if this is answered elsewhere, but I couldn't find what I was looking for. I am looking for my first SFH or duplex in central Texas, from NE San Antonio to south Austin. This covers a LOT of territory - Schertz, Cibolo, San Marcos, New Braunfels, Lockhart, Kyle, Buda, etc. I have an exclusive agreement with a Realtor that is based in San Antonio. However, I have realtors interested in sending deals my way closer to Austin and surrounding area, but I'm locked in. Is there an agreement that would allow a different realtor bring me a deal, have my realtor close on it and get the commission, and offer the realtor that brought me the property a % of the profits once I flip it? Is this completely unorthodox, or do others do something similar?

Hopefully this isn't a completely amateur question, but hey, I am an amateur at this point! 

Thanks in advance for the feedback.

Kyle/Buda are practically the same community, but you will find more in your price range in Kyle 78640 or the southern zip of Buda @ 78610.  The average price is much lower, and it's actually growing faster in Kyle than it is in Buda.  FYI, Hays county is forecasted to be the fastest growing county in the state over the next four decades.  Solid area to be looking, and the pricing isn't through the roof much like Austin right now.