All Forum Posts by: Riley Spiller

Buddy Huffman is my recommendation. I really just found him from a quick Google search a couple of years ago. He turned out to be great. I invested a very small amount it didn't seem to matter. He's always been very helpful.  

http://www.kw.com/kw/agent/buddyhuffman

Welcome, Kurt. Same story for me just joined and am stoked to see all the great people and info here. I'm working on my first SFR at the moment in north Austin. Cheers!

@Stephen ~ I appreciate the feedback. I've been looking for homes in the 100 - 120k range. Perhaps I should lower aim even if it means buying further out of town.

Thanks for welcome and for the tips! Greatly apprecaited.

@Stephen ~ Thanks for the tips. I hadn't thought that, as I've seen some deals in SW Austin. However, do you think that might change with the racetrack out there?

@Nicolaas ~ thanks! Austin is a great place to be. I really do love the east side both for living and investing. Congrats on rejoining civilian life. Welcome to Austin!

@Jon Klaus ~ thank you for the welcome!

@Dennis ~ thanks for the reply. I've got my eye out for that sort of property. But it's hard to find a good price in the nice parts of town. I've looked into FHA loans. I'd have to live in one unit (or convince them that I live there) to be approved for an FHA loan. Furthermore, FHA loans, as of April 2013, require private mortgage insurance (PMI. This is in addition to home owners insurance) for the LIFE of the loan. Previously it was only required for the first 5 years. The cost of PMI is figured at 1.5% of the loan - so an FHA loan at 3.5% can actually be thought of as 4.25%. Keep in mind this is new since April. At this moment, interest rates are closer to ~4.5% (5.25% with PMI). It's comparable with a conventional loan, unfortunately. The only benefit is the lower downpayment - which is, don't get me wrong, is a benefit. Just want to share what I've learned.

@Joshua Dorkin ~ thanks for the warm welcome. That is the video I saw. Thank you! The site seems great. I'm very excited to be a part of it.

Hi All,

I'm very excited to get started with real estate investing. I bought a house last fall in East Austin. Seeing the booming market landscape has inspired me to get involved. I'm interested, ultimately, in buy and hold rentals. I'm happily employed as a computer programmer / app developer but, that said, my ultimate dream is to provide a second source of income from rentals, enough to not rely on my job.

Primarily interested in learning about the possibility of Subject To type deals as I've only got $50k to start with. That amount is only good for about 2 SFH if I go traditional routes. I'd like to acquire faster than that if possible.

Btw, I found BP from a YouTube interview by Joshua Dorkin. He was interviewing a hard money lender.