All Forum Posts by: Walker Seid

I would also account for cap ex depending on your holding period

I golf every Sunday morning and curious if any members want to golf and discuss real estate.

I have home warranties on two houses and they are a waste of money. I would not recommend them. 

I bought that house November of 2014. My cash on cash return is 9%. Is a4 year old 4 bedroom 2 bath in a nice area. My repair costs are very low. I should see some good appreciation. 

I started with a 40k down payment (36k down and 4k closing costs) and 5k for back up. I had to put 25% down. It was a 4b 2ba single family home.

I think the easiest way for you to get started would be to buy a small single family home or duplex. Then house hack by renting out the extra bedrooms. You could put the extra money towards a down payment for the next one or into the mortgage to build equity. Try to buy the house at a discount. Maybe it needs work and you can add value by fixing it up. Then sell or refinance it in a few years and buy another one. Your biggest challenge is going to be qualifying for a mortgage because of your income. You might want to look at a partnership with someone that has a better income source. You will want to live in your first investment because its the only way to get 95-100% financing. If you buy a property as an investment the bank will require 20-25% down and your interest rate will be a little higher. Good Luck and stay focused

Postlets is a great way to advertise available rentals

Keneeth what kind of cap rates do you tend to get in the Houston area? 

thank you

Do you pay taxes once a year or every quarter on the passive income?