All Forum Posts by: Stuart Chinworth

@Silas B., @Michael Mendez is right, the high crime areas in Lubbock are pretty isolated from the areas that most investors want to focus. In regards to sfr vs duplex, just based on the rent to purchase price ratio alone, I don't understand how many of the duplex owners in town are making much money. Persoanlly we have had good luck with sfr's and a 4-plex. 

Growth has been steady for years and I don't see it slowing down significantly. Good luck!

@Wade Erwin I don't at the moment. What types of properties are you looking for? Feel free to PM if you would like. 

That will make things much easier. The only other thing I would mention is, if you are going to the trouble of setting up an LLC, I would assign a lawyer as the registered agent (RA) or, if you want to be the RA make sure the mailing address is a PO Box and not your personal address. Assuming anonymity is a goal.

@Deborah Hernandez Based on the research I have done personally, there doesn't appear to be a huge benefit to putting a property of that nature in an LLC. Do you have a mortgage on the property? If so, that could create some potential issues with the lender. Also, the LLC is taxed as a pass through entity so there wouldn't be any tax benefits.

Being prepared and understanding the terminology is key. I would say it's also important to clearly communicate the benefits of the deal as well as how you will minimize the lenders risk. 

@Arad Goller The counties central appraisal district website should have all of that information. I would google, "X County CAD" and the county website should come up. I will tell you that the quality of the website and information available varies widely from county to county. If you need assistance with a specific county or property, reach out and I will help any way possible.

We are seeing all sorts of crazy appraisal fees coming out of the north Austin/ Georgetown area. Those appraisers are making great money right now but probably don't even have the time to spend it, with how busy they are. 

Given how competitive both of those markets are, I would start calling brokers and building relationships. Since you are doing a good portion of your DD, my guess is that you could clearly define you search criteria. That will go a long way in letting brokers know that you are serious and aren't just a tire kicker. Depending on the size of property you are looking for, you might also try partnering with someone who has a track record with larger properties. I have been told many times that depending on the circumstances, a potential buyers ability to close is sometimes more important than how high their offer it. Best of luck. Always exciting moving to a larger asset class. 

Ha ha. Great stuff! Thank you for the laugh today. 

@Charlene Stovin We invest in Lubbock/ west Texas and I couldn't agree more with the comments @Mason Moreland made. It is definitely worth a close look, especially if you can get good management in place. Feel free to message me with any questions. If you are looking for something closer to Azle, Granbury currently has a rental shortage. Best of luck!