All Forum Posts by: Lane Berry

@Jacob Swihart

Your insurance will go up as Gustavo mentioned since it would be a rental income property. Also, you will lose that homestead and have to pay taxes on the rental income. Given the current rental market in Houston, you shouldn't expect much monthly income. The main benefit is continuing building that equity. Then, if you add more assets there could be some tax benefits.

As for as finding tenants, if you don't use a management company or leasing service/agent. I'd recommend just listing the property on Zillow and other similar sites. The key is to price it at the market rate. If overpriced, you with attract unqualified tenants. Placing the right tenant is crucial, don't just rush into a lease with one because you want the property filled. Ultimately, late rent/no rent payments or damage to the property can be extremely costly. 

Tenants don't care about the lawn like an owner would. They pay and you coordinate is always the best course of action to ensure it is being done. 

It's going to be interesting to see how slightly lower rates affect the fall. Also, at what point do institutional buyers re-enter the market aggressively. 

Hey Mesturah,

Welcome to the platform, I am a newer member as well. That is an impressive amount of growth in a short period. What type of properties do you target?

Great info! I think these regulations improve accountability, generate revenue, ensure fair competition, protect neighborhoods, address housing shortages, and promote responsible property use. Going to be interesting to see how many investors continue to switch to LTR's. 

Yes, that makes sense. Assuming they are leasing and managing it efficiently. 

Travis is right, 2 of the main insurance providers pulled out of Texas in the last few months. Premiums are up at least around 20% in that timeframe. 

@Lance Mel Section 8 isn't easy in Houston. The approval process for vouchers and red tape involved getting it set up is a real struggle. 

Hey @Yonna Wu, we have a couple clients that have rentals in the Rosharon area. It's developing rapidly and has demand for tenants. Depends on the cap rate for a given property. 

@Dan Kiely Independence Heights and Garden Oaks are similar to Edo as well. Product/price wise.