All Forum Posts by: James L.

I have a friend in dfw, he worked out a deal with his rental neighbor to keep an eye on it and do handyman stuff. He just goes by every 6 months. And does all the management him self when needed.

Is that 1300 a unit? Depending on your numbers will determine weither or not you can afford a PM. If you have any investor friends, or a handy man you use maybe you can work a deal with them to keep an eye on it. Manage from a distance.

Hey guys,

I have a question for my south Austin people. How is the east riverside area now that the train fell through. I know prices were starting to soar a little bit, with the prospect of light rail. Do you think it will hold or drop a little?

Thanks Skyler,

I do have some some concerns about that very issue with tying the two together. I had originally thought about the heloc. I plan on going ahead with the paper work. Can't hurt to hear what they're offer.

Hey everyone, so in an attempt to learn about and prequalify for loan I talked to a small community bank that said they do portfolio lending. I asked them about the different lending options available to me. I told them that I have some cash reserves and a lot of equity in my only rental property, they said I could qualify and they would be willing to do a bundle loan on my existing property with any new property. She really didn't want to go into real details till I qualified. 

I guess my question is should I persue this or look at a conventional loan? Any thoughts would be helpful Into the pros and cons of this.

I'm a newbie from Austin tx. I'm really enjoying the thread and insite. We never had a bubble pop here, and while seeing RE appreciate 100% in some areas, rents double all in 5 years with wages not keeping pace. That coupled with high property taxes makes me nervous. 

Thanks for the thread and for sharing all of this insite 

I know there are deals out there in other areas Joe and I should probably persue them. The problem is I have what we like to call control issues, coupled with trust issues.  I would need to find some boots on the ground I could trust. And then trust them to do the leg work for me. I'm a hands on kinda guy. But I'm opening up to the idea

Hey guys,

I thought I heard of a math formula for doing the math backwards to figure out what a property should sell for.  Eg. If I know it will rent for x and needs y amount of rehab purchase price should be Z.   With x amount of dp

Maybe I imagined it, I don't know. Just maybe their is an easier way to do the math. Thanks

Hey Joe, thanks That makes a lot of sense. Now if only I could find some 70k houses in my area. Hahaha

I know this is an old post butttt..... You should look at the numbers ! Let use this example . If you can get a heloc with a 5% interest rate and use that money for down payment for more property and it is getting a 15% cash on cash then it seems to me that you are still coming out a head. And if the first property is still appreciating then now you have a win win situation. Now if you got a heloc on that property it should be able to get 60% equity out so 70k which if you do your home work would be 1 down payment for a 350k property, renting for $1500 so good. Same if you sell your SFR . Or if you can find 2 more properties in the 150k range and rent them for 1500 a month a piece seems like the math works better. Now you are making $4500 a month with about 3500 in bills. Your $400 turned into $1000 a month until heloc is paid then it goes upto $1500. And them assume your rents went up in this time too. Now your making close to $2000