All Forum Posts by: Richard Potts

Thanks for the comments, gentlemen. I think it is indeed time to widen my circle in order to move to the next level. Appreciate it. 

I've been looking to move from one-off duplexes and SF's into larger portfolios/structures (currently we have 5 doors) to grow our family business, and I have a neat opportunity near where I live. But it would require leveling up quite a bit. Our family net worth is 1M+ and our income is ~150K. We're very careful with our finances and asset management, but I'm afraid we lack the firepower to get a funder to consider us bc the portfolio is 2.8M depending on negotiated offer. Just feel stuck on this gap, since we can't qualify for funding based on income. Just not sure how to approach this. 

Anyone here that has made that sort of jump?  Thoughts and advice? 

Do I just accept that I have to climb a few more rungs on the ladder before I pursue these sorts of opportunities? I want to be realistic, but I also want to grow. 

Thanks, BP community

Bumping because I am also very interested in this topic. Any news from anyone? Texas landlords? 

Awesome. Really appreciate the replies! @Marian Smith, do you have contact info for Mr. Sylvester? @Jordan Moorhead, please send along that name, and I'll follow up. 

I'm in need of a painter for work in Hutto and Austin, and of course preferably someone who comes with a reference would be great. Please send leads for people you've used and like. Thanks!

Thank you, Sammy G! I'll advise the husband accordingly. 

I'm going to consult an attorney, but any help from experienced Texas landlords would be MUCH appreciated. 

THE SCENARIO: I've got a tenant couple breaking up, not yet divorced or legally separated. Husband has been diligent about paying rent and caring for the property. Wife, who was a signatory on the lease, has been absent for much of the lease period, which just ended on June 1, including removing her possessions. So I renewed with husband, who wants to stay in the apt, as lone lease signatory. Wife is suddenly back demanding full access to the apartment and is damaging the property (broke door and locks in an argument) to prove her point. Though husband is the only signatory on the new lease and is working toward a divorce, I understand that doesn't truly dissolve wife's access to the marital home. But then wife wasn't violent before. 

QUESTIONS: Is there any way to evict one half of a married couple when they are still married? Or would I have to evict everyone for property damage? How do I get the one destructive member of this couple out? 

Thanks BP community! 

But, to be clear, I'm not excluding anything just yet.

Thank you for that, Carrie!  Do you have any duplexes on your desk now?  Or could you shoot me some leads when they do pop up? I'm interested in duplexes that have at least one side with three BR, and preferably one-story, on the north side, all the way to Cedar Park or Round Rock, etc. 

Price would have to be around 200K. 

I'm new to property investing, but have been reading this gold mine of info at BP for a while now. I'm anxious to jump into a deal. 

I'm sure about my plan and niche: want to buy and hold small MFH (duplexes to start) by house hacking and self-managing up to about 16-20 units over the next couple years.  I have the appetite to start with something that needs *some* work, but I have to house my young family with me. So I can't take on something unlivable. 

But l am also really spooked living in Austin where we've been officially labeled the second most overvalued city in Texas by Forbes, et al.  I've held off for a couple years on purchasing, waiting for the market to turn...so I clearly have bad judgment there. 

Anybody here still killing it in Austin? Not concerned about buying near the peak? Advice for where to be looking for a first deal? 

Do I just need to get over myself? A kick in the pants? Work harder to find a discounted deal?