All Forum Posts by: Layne T.

@Account Closed
I can not tell you how much my investing experience improved after working with the team at 

https://www.indianapmg.com/

Drop a line to Jason there - if you PM I can give you his email address -I would honestly pay them more than they charge, that's how good they are from managing, feedback, guidance, rehab management, A-Z.

@Alejandro Lisson Ramirez

Typically, if the inspector finds the items satisfactory/in working condition, most people don't do additional specialist inspections. The specialists come into place when the general inspector finds an issue to be corrected (i.e. plumbing, roof, electrical, etc.). 

From your report, the water heater issue seems fairly minor. You're in Bogota I see - do you have a property manager already picked for your market? That will be an important alliance as that person will help coordinate any repairs needed to make it rent-ready and usually already has a full network of specialists to use. 

@Sarah Singh call Jason at 

https://www.indianapmg.com/

@Kenneth Kussman

This is pretty basic for a tax cpa, I echo Brian Davis's comment above. This is complicated potentially for someone who's not a tax cpa, and tax laws change all the time. A tax cpa can be worth their weight in gold, and saving a few bucks to use turbotax can be dangerous. 

@Jamir Walton
Thank you for your service!

Echoing the others comments on VA Loan/Triplex or Fourplex route.

Here's a simple roadmap for you:

- Pick a market
- Find a investor friendly real estate agent here for that market
- Find a good property manager for that area from these forums (will be gold when you eventually move out of there)
- When doing an home inspection, don't skimp - pay extra for the sewer line video scope (that repair is the most expensive nightmare that too many people skimp on), do a mold check, etc.

Now with this stuff in mind, you don't need to ask "where do I start?"

You can focus your questions into "how to pick the best agent/property manager," and some online searching will give you good info for that. In a nutshell, it's partial gut/who you click with, who'll help you learn the area and where to buy/not to buy, can help guide you and be a part of your team. Good luck! 

@Roni Karpman @Percy Matsunaga

First a property manager recommendation - Indianapolis Property Management Group. AMAZING at what they do.

Next, Locations - I like Brownsburg, Avon, Plainfield. There are going to be 150-170k level homes. Worth it paying a little more:
  - Minimal extra on mortgage, 80% of this is financed anyway, plus more mortgage means more equity paydown
  - Less problems as far as area crime
  - Excellent schools
  - Longer-term tenants (you save a LOT by not doing a turnover every year and having a 3-year tenant)
  - Better appreciation (vs. nonexistent in your c/c- classes)

Don't be penny wise and pound-foolish, i.e. don't cling to the C class for another $50-75/month in rent while you leave a $5k annual benefit off the table. 

@Katy Logue I loved US Home Inspect, used them twice.
They can bundle add-ons if you want (mold, radon, termite, etc.). 
Great work, great reports, infrared etc.

Thank you @Lucia Rushton - lots to think about next few months.

Appreciation is definitely the goal, I'm not holding out hope for much immediate cash flow in B and above neighborhoods. 

Thanks @Bruce Lynn - great help!

Murali - I was mostly going by the above map for green areas for a preliminary look, and the new construction in Forney is almost the same price as a older properties. 

Looking through some Dallas listings, there's a slew of new construction homes especially in the east / Forney areas, all good neighborhoods, for 225-275k. Builders are Lennar, DR Horton, Meritage, etc. Those prices are in line with the preowned homes in the area.

-Does anyone have local experience with those builders/have you been happy-not happy with your purchase?

-Any general tips on why or why not to go down this route, particularly in the DFW market?

Thank you!