All Forum Posts by: Kenneth McKeown

@Anna Hummer the only MFH in 75234 are going to be one street in Farmers Branch and I've seen two duplexes in three years be sold there. Just not a lot of MFHs in Farmers Branch. I own a SFH in 75234.

@Dustin Tran Both the 1% rule as well as finding suitable rentals under $150,000 is going to be difficult. There are certainly homes under $150,000 but not a lot that would fit the type of home I'm looking for a rental (personally, everyones different). 

I'm familiar with all the above listed cities - and you're likely to find cheaper houses in areas of FW, GP and Arlington. HEB is pretty centralized and thus is harder to find homes anywhere near $150,000. 

MFH's are going to be quite competitive just because of our market not having many and plenty of folks interested. Just a supply and demand factor there.

@Neil Sutfin Hey I'm also a Veteran and have prepped my business the past few years as a 1099 individual to where I can now purchase homes with my commissions income pretty easily. 

@Russ Wahl the biggest attribute to you joining eXp will be the sponsor & community they provide you. Too many out there join a recruiting sponsor and are left out to dry. I joined 3 years ago with a very good leader and now have closed over 150 homes and left my full time job just a year in to pursue real estate full time. 

@John McCurley I have a 4-plex that's zoned MFH but the water meter is not separate. It's one water bill for the entire month so I use a plan to distribute the cost to all four units. What kind of shape is this duplex in and area would be the determining factor to me whether or not it's worth it. Is this an area where this is going to be demo'd at some point? 

@Kunaal Kumar that's going to be a hard no. Soil in Texas is the reason why we don't have basements. Good luck obtaining a city permit for that as well. 

@Chris Hernandez my biggest suggestion is get connected with a local mortgage broker.

@Tyler Hodgson is great and can get you situated with where your books are and what you're potentially available to do moving forward. 

@Chris Hernandez if you have the entire home in your name - a lender isn't going to care. That entire mortgage is what will be on your credit/DTI.

@Chris Hernandez you mentioned your payment is $1200. How do you have a $1200 payment on a 420k home? Whatever the total mortgage cost is - that is what will affect your DTI. $20-40k likely isn't quite enough for an investment property ($40k is - will be tough at $20k) but if it's a good property number wise - it shouldn't negatively affect your DTI. Sounds like you just need to get connected with a lender and get pre-approved and figure out where that puts you.

@Joseph Pytcher love hearing that. I’ve got 9 doors myself and growing. Little less risk in my business though 😅😅