All Forum Posts by: Jerry Stevenson

Hello All,

Curious to hear everyone’s story about their first investment property! Was it a good deal? Did you cashflow right away? What did you learn?

@Jordan Moorhead Thanks!

@Joe Scaparra I appreciate the advice!! I actually started out looking to buy a duplex! I got a little discouraged because of the prices in ATX, but your advice is gold! I really appreciate the insight!

@Alan McClain Thanks for your insight! The goal is/was to buy a cash flowing property. Building equity and saving for my next property isn’t a bad back up plan, but ideally would like to buy a ash flowing property.

Newbie here! I signed a contract to have a home built (purchase price 244,490) in East Austin, TX (Basically manor) The house comes with a 1-2-10 warranty, closing cost are basically completely covered (6000 towards closing cost). The numbers don't really make sense now that I am analyzing them. Here are the details about the home: It's a SFH 3 bed 2.5 bath, closing costs would be $1500, taxes $520+ a month, HOA $33, insurance $60, PMI $116, cap ex 4%, vacancy 3% (not sure if I should include vacancy since it's owner occupied), repairs 3% (low because of new warranty and new built). I have enough saved for 5%-10% down payment. I'm thinking I can get 700 per room. Even thinking about renting out the master to get more. It's hard to find a home in Austin that cash flows because of taxes! Please share your thoughts and advice! I can still back out of the contract if I need to!

@David Ivy Great information!! What are your thoughts about buying near East Austin in Manor?

Also, not sure if I am missing any other cost associated with repairs?

Hello All,

Newbie to Real Estate here. Should you buy or build a home? What are the pro and cons of each? I’m looking to house-hack my first property, but I’m not sure if it makes sense to have a home built or buy a home.

I may have made a newbie mistake by signing a contract to fast and I want a second opinion on if I'm making the correct decision. I signed a contract to have a home built (purchase price 244,490) in East Austin, TX. The house comes with a 1-2-10 warranty, closing cost are basically completely covered (6000 towards closing cost). The numbers don't really make sense now that I am analyzing them. Here are the details about the home: It's a SFH 3 bed 2.5 bath, closing costs would be $1500, taxes $520+ a month, HOA $33, insurance $60, PMI $116, cap ex 4%, vacancy 3% (not sure if I should include vacancy since it's owner occupied), repairs 3% (low because of new warranty and new built). I have enough saved for 5%-10% down payment. I'm thinking I can get 700 per room. Even thinking about renting out the master to get more. Please share your thoughts and advice!

Hello All,

Newbie to Real Estate here. Should you buy or build a home? What are the pro and cons of each? I’m looking to house-hack my first property, but I’m not sure if it makes sense to have a home built or buy a home.

I may have made a newbie mistake by signing a contract to fast and I want a second opinion on if I'm making the correct decision. I signed a contract to have a home built (purchase price 244,490) in East Austin, TX. The house comes with a 1-2-10 warranty, closing cost are basically completely covered (6000 towards closing cost). The numbers don't really make sense now that I am analyzing them. Here are the details about the home: It's a SFH 3 bed 2.5 bath, closing costs would be $1500, taxes $520+ a month, HOA $33, insurance $60, PMI $116, cap ex 4%, vacancy 3% (not sure if I should include vacancy since it's owner occupied), repairs 3% (low because of new warranty and new built). I have enough saved for 5%-10% down payment. I'm thinking I can get 700 per room. Even thinking about renting out the master to get more. Please share your thoughts and advice!

@Kirk R. Thanks for your insight, and I’m in Austin Texas. I found a property that makes since for 240k, that I want to house hack. I have a buddy that will be staying in one of the rooms and I would just have to find another for the other room.