All Forum Posts by: Nina Hayden

Matt - Plano isn’t the place I would look for rental properties. Just look at the area and stats for who lives there and income.   So I’m not surprised at all!  Now for residential real estate for homeowners, the market has been strong.  

The obvious areas like Vegas and NYC I can see why they may be impacted.  But cities like Austin and North Dallas, I don’t think we will see a big effect.  Houston has has a big hit in commercial due to the oil and gas situation, but expect that to come right back once it’s booming again. Both of these areas (Austin and DFW) continue to attract businesses relocating and overall growth.  Despite prices not dropping due to the demand and very low interest rates, the cost of living here is far better than a lot of the big cities across the nation. I say this will definitely be a market  by market situation.   As for preparing for great deals, I have a different approach:  if a great deal comes my way (numbers make sense) then I will take advantage of it.  

Welcome and good luck!  I highly recommend listening to several podcasts here on BP and research topics related to what you want to do.  Lots of great info here.  Of course I’m biased, Austin is a great city. Just know that the market in Austin will be hard to find a great deal right now, especially if you’re looking for multifamily.   

I use the app for a lot of personal and business.  I also offer classes to agents to learn how to use Canva.  The class is CE approved too.  So this makes me happy to see!  

Insane.  I have mixed feelings about this.  Just the fact that property taxes are about to go up is already maddening. 

Those numbers will change as the majority of Texans are ready to get our state back and running.  

@Account Closed become a pro so you can take advantage of many more features here including getting acquainted with calculating deals.  Keep educating yourself. I can’t stress this enough.

I’m on the conservative side of investments.  What this means is that I don’t like to leverage like a fool. I like to know and be at peace when things get bad like a recession or Covid-19.  I either purchase all in cash or put down greater than the requirement of 25% down.  

In my line of career at the moment, I work with thousands of realtors. And I mean thousands.  Part of my job is to make sure I bring value to them. One of the values is to help them grow their business or pipe line. There are a ton of realtors that mean well but do NOT have experience with dealing or have dealt with  investment properties.  None.  Nada.  Find yourself an agent that is truly an investor friendly agent, is extremely knowledgeable of the market, and even better if they have weathered through the crazy cycles of real estate like high interests rates, recession, hot market (strong negotiation skills), does business with like-minded reputable vendors (lenders) and the latest, Covid-19.  I can name many more.  But please due diligence with whom you talk to and sign a contract with.  
Please don’t take this wrong:  your best option right now is keep saving, keep educating yourself about everything and anything, and wait.  Deals will always be there.  But only the ones who are prepared are the ones that will jump on them and do well. 

@Account Closed it sounds to me like you should really take a lot of time to read and listen to a lot of the podcasts that you can find here. Become knowledgeable with the many ways of approaching investing in real estate so you can figure out what is the best way for your situation and what you prefer to handle.  You’re going to get so many different advices but all will agree that it doesn’t matter the amount you will spend, but what matters is that the numbers do make sense and you’re cash flowing...not losing.  Also, be prepared to make mistakes. Some of those mistakes can be costly and you need to be fully aware of that and learn how much risk you can handle.  For example, my very first one I went in with one question in mind: can I afford to lose here? I knew that if I made mistakes I would be ok. And guess what?  I did make mistakes that cost me!!!!  But it all worked out and I learned so much.  Keep asking away. Take your time to learn as much as you can.  Don’t rush it.  

It’s always far better to buy as many doors as you can with that money.  But it won’t happen in Austin with what you have.  And I wouldn’t “invest” in negative clash flow ever! 

Does it have to be Austin?  

I went to one of Brad’s weekend event and have done one of his webinars prior to the whole crisis.  I spoke to them about joining and they went over both levels of becoming involved and the cost.  A few days later we began the shelter in place so I’ve been sitting tight waiting for this to play out for me to resume.  One thing is, I will be ready.