All Forum Posts by: Matt Brown

@Laurine D Hollis

Did you buy the house in Tuscany Meadows? There's one with extensive fire damage there.

@Wes Johnson

Not really any restrictions with military. I've been in the army for 13 years and have owned several properties and rented to other military and haven't had any issues with any restrictions. As far as a landlord is concerned, treat them like anyone else. Only catch is deployment or PCS orders can get them out of a lease.

I appreciate the responses from everyone!

@Michael Wagner

It would be a cheap way to get into it and learn the systems to become more hands free. I can devote time to it for sure, but this one I could go in all cash and get it going.

I drive by a run down storage unit on my way to work every day. It's very small, and what I can tell it has 10 garage sized units and maybe 15 5x10s. Hard to tell because I can't see all of the small units. It's a single building on 0.31 acres according to the CAD.

It would need a huge renovation. However, I don't K ow where to begin. I'd like to see it and see what the owner would take for it but the CAD lists it belonging to an LLC. No other info on that LLC. It's also listed as C/O one of the largest property management companies in the area.

What are your thoughts? I'm thinking it would be a nice small transition into personal storage which I haven't done before. I'd like to automate everything with it and keep it hands off for the most part.

I believe he is the founder of Cozy, but @Lucas Hall is on here. Really friendly. I use Cozy for everything, from payments to expense tracking. Wish they listed properties in more places, but overall solid.

@Steve H.

This is totally normal! The agent is going to put time in scouring the MLS for you, pitching properties to you, showing you homes, etc. Lots of work in it. Also, when you find that property, they're not off the hook. They're going to setup all closing and get everything setup for you, regardless if you found it. It's the only way they get paid.

My wife is an agent (I'm the investor) and has investors looking for freebies all the time. They suck up time and effort and not want to pay out for the time. It's a business. They have credentials to get on the MLS. Recommend you get your license and find a broker if you don't want to pay, but even a broker is going to take a slice.

Curious how this ended up for everyone. I'm interested in starting one in Central Texas as well.

@Jason Vo

I found the land the land I'd like to purchase, have a plan in place, but currently looking at finance options. That's my biggest friction point. As I mentioned before, I am versed in SFRs, just not so much in this area.

I look at IRR for buy and holds, but my real driving factor is cash flow. IRR is more like if I put the money in a stock, what's my return vs if I put it in a property, what's my return? I can do whatever I want with either pot of cash in the end.

@Mark Philibosian

I don't think there's a legal binding requirement for the percentage, but rather a lender. I work with SFRs, so a little different, but I have gone to 3 different lenders and got 3 different terms. I'd shop around and ask about it. It's all up to the lenders risk tolerance.