All Forum Posts by: Shane Elias-Calles

Is anyone using SBA loans to develop and hold assets like self-storage facilities? 

When people purchase a house and go through a large renovation (new roof, rebuilt hvac, etc.) what is a good percentage to set aside for vacancy and repairs?

Also, if one were to have say 5k in reserves, should the investor stil set aside the monthly percentage for these things? or only start contributing those percentages once part of the 5k is spent?

thanks,
Shane 

Hello everyone,

does anyone know of a set of keywords that can be used to search for houses with ADU, or Mother in Law suite, or simple extra space that can be used to house hack?

thanks 

shane 

Looking for property management in the DFW area, specifically Grapevine.

Any recommendation is appreciated.

thanks

shane

@Jaysen Medhurst, I have not been there for 2 years, which is a bummer. However, in running the numbers I had a management company charging $150 per month, $250 for reserves, and $98 left over. Not a great performing cash flow number thats for sure. 

2150 - 1652- 150 - 250 = $98 

I appreciate the knowledge and opinion.

@Rob Lee,I am a developer in Grapevine, TX, we are in the midst of building an 8 lot subdivision and there has been a lot of interest in wanting to buy our lots and build custom. We are also going to start a spec home in the next few weeks so I will have to let you know how that does once it hits the market. 

Hey guys,

I'm in my first house hack but i just got offered a job to leave the state. I can either rent it and make for $2150 with mortgage of $1652, or sell for about a 16% return on my investment, and walk away with about 60k in cash including equity.
any thoughts on this situation? a lot of people have stated that owning one house long distance may not be worth it so a sell and reposition is a good idea? 

anyone have experience with owning one property long distance? 

@Wayne Brooks Thanks wayne. What if I do not move for a few more months? 

Hello Everyone,

I recently purchased my first deal with conventional owner-occupied financing. I had planned on living in the home for a year, however now I may have another job offer in a different state. 

My disclosure states that there is no prepayment penalty but also states I must occupy the home for a year.

I have renovated the entire home so it is now worth a lot more than I anticipated. Can I sell the home even though the disclosure says a year? Would I have to prove that I was moving out of state?

Thanks

Shane  

Jose, any luck with this? I was looking into this as well. some of these boats slips come very close to the 1% rule but have very low maintenance. Im trying to figure out what type of financing can be used.

Thanks

Shane