All Forum Posts by: Travis Fairbairn

 Sonya can you walk me through your numbers? I’m genuinely curious as to how this works out positive cashflow? With a mortgage around 1200 a month and taxes somewhere betweeen 5k and 8k a year, it seems that P/I and taxes are right around 1700-1900. What did you do differently?

Unfortunately that’s not an option for my family. 

I am getting close to an accepted offer on a 3 unit property that will be used as an Airbnb property, however the numbers work as a longterm rental as well.

I am prequalified for 75-80% downpayment commercial loan for the property. Assuming it needs ZERO rehab, does anyone have any creative financing ideas or loan strategies to minimize the amount of out of pocket money on my end? While the numbers work great, I don't want to limit myself to only being 1 property for the next year or two.

Also I'm in the Dallas Fort Worth area.

Travis

tags: 

Airbnb Dallas Fort Worth creative finance Texas STR Short term rental vacation rental commercial loan portfolio loan BRRR

I'm looking at purchasing a rental property South of Dallas, in Desoto. This SFR has an in ground pool in the backyard. It's going to cost 100-150 a month to maintain it. How would you account for this in the rent? Options:

1. Raise the rent slightly higher than comps to account for a pool which others won’t have

2. Standard rent with a 150 a month pool maintenance feee tacked onto rent

3. Try to educate the renter and set the expectation they will maintain

4. Expect to just eat the cost of a pool

Thoughts?

 Building as a rental? Or a personal residence?

I just listened to a David Tilney YouTube video talking about Master Leases. However, I’ve heard that Master Leases are illegal in Texas. Can anybody clarify what Texas allows in regards to Master Lease Agreements?

I operate in the Dallas Fort Worth area. 

Very interested to hear about this as well!

I analyze properties in Dallas all the time. I don’t think you need to look at tax any different than any other expense. It’s just higher here. If you can find a property at enough of a discount and good terms(along with all the other factors involved that make it a good deal), and you run your numbers and it works, then I wouldn’t worry about tax by itself. Higher taxes probably do affect the price-rent ratio. But ultimately there are plenty of landlords in Dallas that are renting properties and they are covering their tax expense. Just gotta find the right property!

@Mark Clayton

Congrats man! Something to keep in mind is that Fannie Mae doesn't like to lend to entities (LLC). For when you plan to buy and hold.

@Antonio Barnes

@Ryan Blake probably knows a few banks/credit unions. Also he can set you up with hard money as well.