All Forum Posts by: Marci Mayes

@ Regina Dupree
Conroe is a great place to invest! We have lots of people moving into the area, so demand is up. In Year to Year Comparisons, The Average Days on Market have increased from 27 days to 56 days, and the Median Sold Price has increased 9%. We are returning to a more normal Days on Market, but our price growth remains strong especially compared to other parts of the country that are showing negative or flat price growth. I personally own several rentals in the area, and I do not have any trouble finding tenants. Thanks for sharing the article from the Conroe News! 

An investor friendly agent can also help you find homes to flip. 

@Schadrac Mertis 

I am not sure which state you are referring to, but my daughter has a short term rental in Montgomery County, AL. She has been doing very well with it. I am a real estate broker in Montgomery County, TX where I also own several long term rentals. My long term rentals have worked out great for me. I would love to connect and help answer any questions you have about getting started.  

Welcome to Bigger Pockets! You've come to the right place to learn about real estate investing! 

Ask your lender about a DSCR loan.

Congratulations on learning about real estate while you are still in high school. If you have not done so already, I highly recommend First to a Million written by Dan Sheeks and published by BP. I would get a W2 job while you are in high school and start saving for the downpayment on your first house. When you finish high school, you should have enough saved for a downpayment. The book outlines ways to qualify for a mortgage BEFORE you start accumulating consumer debt. You can purchase your first house and start house hacking after you graduate. Reading books, listening to podcasts, finding mentors are all great; but I have found that experience is the best teacher. Set yourself up for success. Get out there and get started! 

@ David Woz I have a loan servicer that might work for you. Please DM me, and I will send contact information.

You can apply for the Texas homestead exemption the first year you occupy the property. You have to prove residence. I encourage all my clients to get the address changed on their driver's license as soon as them move in to the property. I give my clients the exemption application form. If the address on the driver's license matches the address of the property, it is pretty easy to qualify for homestead exemption. 

I have purchased quite a few rental properties in Texas over the years. My experience has been that the exemptions in place on the property on Jan 1 stay with the property for the remainder of the year. For example -- If I purchase a rental with a Homestead exemption, Over 65 exemption, etc, I benefit from the exemption the first year. This gives me time to stabilize the property by doing repairs, finding tenants, etc. before the property tax exemption falls off the next year. 

I applaud you for trying to get in the game of real estate. I think the north side of Houston is great! I also like Montgomery County. You are correct that all you need is a base hit. You don't need a home run. My suggestion is to buy the property with more cash flow. For a newbie, a property with with zero or negative cash flow will be very discouraging. You want to build momentum so that you are ready for your next deal. Best of luck!