All Forum Posts by: Nick Sheveland

@John-Bradley Greene @Sam Teifke @Cory Mortensen

@Neil Narayan is right I feel. I would say it's mainly an investor game. I'm a newer investor and house hack a duplex in downtown Round Rock via fha. I plan on house hacking small mfr's for a long time but also get into small apartments in the next 3-5 years.

Welcome to BP. For starters it would be a good idea to define your WHY, why are you wanting to get into REI and what will that accomplish for you. I would also get a general idea of the main niches and figure which one(s) interest you the most. Listen to a ton of podcasts and stay active here. Also finding a mentor is extremely beneficial.

@Aaron Gordy I'm actually mailing that street and a few others soon. 

@Bradley Chiakas thats good that you are running numbers in the HOT Austin market and getting a feel for it based off realtor.com but let me ask you this, how many offers are you making? So what if it's mls, run numbers and see at what price it works for you. Offer that price and stick to your numbers if it works it works if not go to the next one. I also like to make offers via clist and FB market place in the for rent section. That actually gets me in contact with the owners on the subject about 30% of the time.

Also I'm an Austin native and know the market and surrounding areas quite well. Let me know if you ever have any questions. I'm always happy to help.

@Sam Teifke @Jared Crouch would yall be interested in going to this? I plan on it.

I closed a few weeks ago on a duplex with a tenant in place. At closing I got a envelope with the keys and a check from the sellers in the amount of the deposit. Open a separate account to deposit that into for safe keeping.

LVT for sure! Don't get me wrong I like carpet because it's more comfortable to walk on and doesn't get cold in the winter BUT for a rental LVT without question. Tenants wont take care of your carpet and things will spill and stain it, plus you'll get to redo it every 5-10 years. If they want carpet they can go get a big area rug. IF you choose to go with carpet I would only do the Master bedroom. LVT is tenant-proof.

@Sam Teifke @Cory Mortensen @Chris Sweeney @Eric Langridge lets go yall. I'll be there since I'm off that day.

I 110% agree with @Joe Scaparra a duplex might sound like a lot at first but it's easier on the wallet then a SFH. I just closed and moved into a duplex in downtown Round Rock, Texas. My tenant next door is paying Over half of everything. I pay net $2188 a month and he pays $1175 plus my side has been reno'd and is all new. I highly recommending running the numbers on your duplex AND location(very important) and let us run some numbers and advise you on what we think. This is my first property so I'm just one step ahead of you and would love to help you get started. Buying a house or duplex really isnt hard. It's just a lot of emails really haha, easy!!! Yes have some cash set away, really doesnt have to be a lot. I'm all in in a HOT market for under $10k tops, PLUS the first one is the hardest. Did I mention this was a MLS deal? We just sweetend up closing cost by nearly all of it thanks to @Sam Teifke. The first purchase is scary and new but the next time is just a repeat ordeal, you've done it all before. Don't be afraid to buy, be afraid to stay stagnate!! Seriously, pm me and I'd love to help you every step of the way. This is BP baby, we got you. @Joe Scaparra we still need to meet up!! First step Find BP, second step find a GOOD agent, third step find a GOOD lender, fourth step MAKE OFFERS, fifth step CLOSE! You got this!

I agree with @Melissa Barnard. Money is cheap right now and prices are starting to flatten out. I just closed on a duplex last week that I found on the MLS in downtown Round Rock with FHA. Purchase was $310k, $3k earnest, sellers paid $5500 in closing, lender covered $2k @ 4% and all I had to cover at closing was $5439.28! Oh and it cashflows. MLS deals are out there but you have to make offers and find creative ways to make it even better. I'd love to have some MF's in the Dallas area in the next few years.