All Forum Posts by: Lawrence Moore

@Mitch Foster Welcome to BP. I attend SFA (another FCS school) so I know a little bit about the jackrabbits but not much, and certainly not a lot about your market. However, like everyone here has said, use the tools on BP and research/read as much as possible, that has helped me immensely. 

I'm going to try to close on a 4 plex and be renting it out fully by next school year. Being a student I'm sure you know the student housing market as well as anyone in your area, so play to your strengths and focus on that like @Joe Splitrock said. 

Like I previously stated, read and research as much as possible. Feel free to send me a request too!

Axe Em' Jacks and go Jackrabbits? 

Welcome to BP.

I am an aspiring investor and will also be based out of east Texas (primarily Nacogdoches since I go to school there)

Let me know if you have any questions! Could possibly work with some deals with you in the future

Has anyone ever done this?

There's a property that I'm looking at that could be bought for about $80,000-$100,000 in cash. It's a 4 plex and needs about $25K worth of work and the ARV should be $175,000-$200,000.

What if I purchased the property with cash using private money, and give my investor(s) a 6-7% return on investment yearly for the first 5 years. After year 5 I refinance the property and buy out the investor(s).

What do you all think of this strategy? 

Thanks y'all! 

Wanted to just get a clarification for that

Greetings,

Okay so I'm studying a ton over REI, am looking to start in April/May of 2017, and I have a quick question.

When someone like Brandon says "I look for $100/month cash flow per unit" what EXACTLY does that mean? I get that a 4 plex that each have 1 bedroom would equal 4 units. But what if it is a single apartment with 2 bedrooms? Is that 1 unit or 2 units? So, for a 4 plex with 8 bedooms, would that be 4 units or 8? 

Thanks. 

-Mac

Awesome, that's what I was thinking. 

What do I want to say to the insurance company to convey this to make sure I don't overpay? 

@Jason Bott it's a condo unit. 

Would the HOA fees cover insurance?

I'm about to close in on my first deal, extremely excited.

I've accounted for insurance, yet I don't know where to start on acquiring it. 

It is for a single apartment unit. 

What kind of insurance do I need, and where do I get it?

Thanks for all replies! 

Greetings,

Okay so this will be my first investment property, and I plan on investing more in this market (East Texas)

The only problem I have right now, aside from finding financing, is that I will be leaving the country to study abroad in Austria from October-February. I'm nearly positive I can have tenants that I already know fill my property, so getting a hold of me should something go wrong won't be too difficult. 

I just have some reservations about making my first investment then leaving the country. 

Any thoughts? 

Thank you! 

Greetings, 

I am a student home for the summer from school (Stephen F. Austin State University) and I am just looking to gain experience in the industry. I work Monday-Friday 8:30-5:30 but am pretty free at any other times unless I am traveling. If you have any work or know of any work that I could possibly help with please let me know. 

The goal for me is to just get my feet wet before getting my first rental property possibly in February of 2017. 

Thank you!