All Forum Posts by: Karl McGarvey

 The advantage to buying more for cheaper is diversification. If one 500K house sits empty, you have nothing. If one of two, 250K properties sits empty, you have 50%. That being said, its all about the numbers and the area. I work with investors on the SE side of town and in Galveston, if I can be of any help to help you get to know the area, feel free to reach out!

A lot of opportunity to do that here on BP! Good Luck!

 A lot of great places to house hack in Houston, I have represented a few clients on their first homes which they will house hack. If you are living and working in Houston I would capitalize on the stability to keep the lender happy and spend the 12 months you would be satisfying the occupancy period, spend the time researching where you want to go after!

 Pricelabs actually does give you an estimated revenue and occupancy. On the right side of the report where it says "column filters" you can add both of them. Every market is different for which platform performs better for a given listing. What I look at more closely than the averages, are the properties closest to the one I am looking at for my clients. Specifically the numbers they have as well as reviews and the reasons for those reviews. If revenue is low, I am trying to find out if there is a problem that is fixable with new mgmt, or if the property is a dead end from the beginning. 

Sub-To and Seller Financing are great, but they are not super common. For Sub-To you are going to have to find someone/property in distress who is willing to just let it go. This could take months to find, maybe longer.

With FHA now offering loans as low as no money down, I would be chasing after a small starter home to house hack using that financing instead. Take your remaining time in school to focus on building a credit score and a small savings account. This gives you quicker entry into "the game" and you start building equity from day one. It is the easy button compared to what you are talking about above

First off, sorry for your loss, it is incredibly difficult losing a parent.

Now to the RE - my brother lives in Royal Oak and told me his next door neighbor passed away and they are currently rehabbing the house for sale. Small world.

You have started! That piece of real estate is 100% an investment for you now, even if it does not make you cashflow, in the future if and when you sell it, you will benefit from the appreciation of the property over time. I would talk to your CPA about tax implications of holding now and seeing how you might be able to use the property for tax write-offs. 

Lender will have to approve it. LLC is going to drive the need to do commercial financing potentially which is not easier. One reason why I prefer umbrella policies as opposed to LLCs

For you #1 - Use Pricelabs! They have market data for only $10 that provides an incredible amount of market insight. I use it on every deal that I represent clients on down here in the Houston/Galveston area

Hello! I have helped multiple house hackers through the Houston area as well as down in Galveston with STR House Hacking. If I can be of any help, feel free to reach out!