All Forum Posts by: Matthew Rolf

@Paul Leavitt Piney Point Village and Mission Bend are VERY different neighborhoods.  Piney Point is Californiaish prices, Mission Bend is a very middle class Houston neighborhood.

@Paul Leavitt thanks for the tag! Yeah I'd be interested in going. Most mid sized multifamily stuff you have to get away from HOA dominated areas. Old Katy, Rosenberg, Brookshire all would have options.

@Viraj Chaudhary definitely!  I'll PM you both.  I want to learn the process.

@Jacob Dean I've always wanted to go to a property auction, but still have never been.  I think it sounded intimidating to me for some reason.  Have you been to one or would this be your first time?  I'd love to tag along sometime.

@Norb Schneider I think if I were in your position I would read through Houston related posts here and find an investor that is doing things similar to what you want to do.  You can connect with them and they may be willing to give guidance on who the use.  In general, people here are wanting others to also succeed.  Best of Luck!

@Blake Hernandez awesome man!  I would definitely go to get your RE license vs working an entry level job especially if your already in RE on the investing side.  Texas requires the most RE course hours in the country (180), but honestly it isn't that big of an investment when you can do it online on your own time.  AYPO is the cheapest option ($100), Aceable Agent has the highest reviews (I think it costs $250), or you can always do something like Champions RE School if you are an in person learner.

I personally chose Keller Williams because I had an experienced high producing mentor there.  If you have the right support, EXP you will keep the most money at the end of the day (getting commision split back in stock if you produce enough + when you recruit other agents it is Revenue sharing (EXP) vs Profit Sharing (KW).

@Rubab Sayeed of course man!  You're on a great path

@Rubab Sayeed Welcome!  Are you looking turnkey or willing to do a light rehab?  From what I can see here, doing some sort of a rehab or value add is your best option to cashflow.  House Hacking is probably the easiest way to get started though.  Small multifamily option are pretty limited out in many of the Suburbs (ie Sugarland) but closer towards Houston you'd have more options.  Not sure if you're interested in living in D/C class neighborhoods going through early gentrification, but that's where you could find a lot of upside down the road.

If you want to be in Sugarland now (I know you don't need to be) and if your budget allows, you could find a home with an above garage apartment.  If you lived in the apt, you could rent out the entire home and greatly reduce your cost of living + pick up your first property.

Another option if you're open to the rehab option would be doing a live in flip, moving after 12 months and cash out refinancing to keep your money moving (modified BRRRR + a place to live). I can provided you contact info for affordable contractors if you need those down the road.

@Ryan Lam yeah you can still find deals that meet the 1% rule out here (and cash flow) but most of those would need some sort of a light rehab.  In general, homes below 200k usually would be easiest to cash flow and those are getting snapped up in no time.

Eustis has a section of town that falls in an opportunity zone, some of that section is rough, but there are decent neighborhoods in that area also.  Mount Dora / Taveres / Eustis / Umatilla (most rural) would all be worth a look (there's some toll road or something being expanded in that direction, but that's a questions for someone that knows that market).  I know a property manager out there if you wanted to pick his brain.

@Ryan Lam looks like we've checked out a lot of the same general areas.  I just moved to Houston suburbs about 18 months ago from the Bay Area.  I'm mostly out in the Katy, but I know that rent number is conservative for the Heights / Rice Military especially if your able to find a decent 3 bedroom.  Without knowing many details, I'd guess you should put something closer to 2k for rent.  Your tax number is probably too low for most of the homes you'd be getting.  I think something closer to 2.4% down there would be more accurate.

I have a sister that lives northwest of Orlando (Eustis) and have given that a serious look too. The area is appreciating and you can find properties that cash flow. She is househacking, lives in the downstairs, AirBnB's out the top. She found her home for 70k, did a big rehab of (80k), ARV is 230k and she makes 1400/mo from the upstairs. Not bad for a school teacher!