All Forum Posts by: Travis Rogers

@Bryan Brooks I did finalize and it's going well financially, has been a lot of work but getting better every month. Now searching for facility #2, also in Texas. How are things going with your place?

@Jim Cummings also definitely leaving Oregon politics behind! lol. One of the main factors in my decision to relocate to Texas, as well as all of my friends who relocated to TX last year

Hey @Jacob Whitney, I live in Oregon and am moving to Texas as soon as I can. I already have a business (self-storage) and a home (SFR) there and am purchasing another self-storage this year and possible another home. I have one last rental in Oregon and my primary here which I'll be transferring to TX. I just hung up with a commercial broker, a lot of folks are doing this right now. I had five different families who I know in Oregon move to Texas in 2020. Quality of life improves, and investment strategy does as well. You can invest remotely, but it is definitely more challenging. If I can be near my property that is always my preference, but I will no longer invest in Oregon.

TX is booming, I was down there twice in December, my appreciation and my cash-on-cash has been amazing down there, and they are continuing to grow. I spoke with a builder about buying some houses from them, but they don't even have spec homes, because homes are selling so fast that as soon as they break ground they sell. My cousin is building a home about 20 minutes from his current home, they have made a great profit on their primary as well over time. If you have any questions feel free to reach out. 

Texas is a great state and the laws are much better especially if you're investing. People are great too! On top of that, aside from right now, it's warmer there and there's a lot of great food and things to do outside. Check it out and find the right area, each place in Texas is a little bit different. There are some beautiful houses down there, I can't wait to get there! All the best!

Thank you @Account Closed. I found a good elease and got it signed for the apartment tenant. Tonight I'm working on an office lease, both of these filled up quicker than anticipated so I'm looking for a commercial, office lease now. Fortunately the apartment lease went well. Thank you for the insight on TX law. I have rentals in Oregon and am up to speed on laws here (carbon monoxide, deadlines, notices, etc.) and am involved in a rental organization in Oregon. I'm not aware of a similar organization in TX that I could be a part of to stay up to date. If you (or anyone else) have insight into a group in TX I'd be glad to join. Thanks again! 

Perfect, thanks @Caleb Longino! I glanced around there and ran out of time last night. I'll look into that, I also found Zillow has an option and since I'm remote I'm considering that as well. If you (or anyone) has any insight on the Zillow leases vs TREC I'd be interested in your thoughts on that. Thanks again! 

I live in Oregon but own a self storage facility in Belton Texas, right outside of Temple Texas. I'm renting one of the onsite apartments in Belton Texas to a friend who will help run the facility. I'm looking for a rental association I could join if one exists in Belton/Temple/Bell County (I have one in my county in Oregon). I'm also needing to get a lease for him to sign, as well as any other forms that may be necessary. I'm still getting familiar with Texas so I'm curious where the best place to get these forms, etc. would be. I started on Zillow but need to modify some verbiage and Zillow's going to charge him so I'm hoping to ensure I can modify what I need to before I have him pay for the credit/background. If there's anyone in Bell County with knowledge on this that can provide some guidance I would really appreciate it, I am way behind. Getting this self storage facility going has taken every second of my day lately, but now getting him in the apartment is a priority and he's anxious to get moved in as I had the place cleaned out today. Thank you in advance BP community! 

@Joseph Chew I would also recommend checking with a mortgage broker first just to get your numbers dialed in. They can give you an estimate at $100k purchase, or whatever you're considering, with taxes and insurance built in. Do a market analysis on rent online to get an idea on what it will rent for, subtract your mortgage payment, taxes and insurance, and leave some aside for repair, etc. Typically initial purchase equals more up front capital than you were expecting, especially on your first rental. Make sure you're familiar with repairs or upgrades that you're planning to do to account for those up front costs, and factor in more misc for the unexpected. 

I shoot for a $300+/mo net in my pocket after my mortgage, taxes, and insurance are paid. Everyone has different methods, but if I'm getting $3600+/yr I won't spend that on vacancy or repairs aside from a roof or heating/cooling system typically (so check those well before you buy!). Minor things will go wrong, plumbing, sprinkler heads, maybe a cracked window, appliance, etc. They won't be in a large cost category typically though. If rent goes down, I have a buffer (I typically like to be closer to $400-$500/mo net before repairs/vacancy). Also, a duplex and living in one side as mentioned above is a great way to get started! I've got my son taught to do this as early in life as he can. Also as mentioned above, ask questions on here and don't let anyone discourage you. It will be a learning experience, after one, you'll have a good idea what to expect on the next one. And there's always good advice on here. Best of luck to you! Texas is a great state poised and ready for more growth!

@Andrew Zannotti I have a single family home in Temple that I rent and just purchased a self storage facility there as well. I live in Oregon right now. Would you mind PM'ing me your property manager in Killeen? I'll be down there very soon and I may be in the market down the road for a PM and have learned to secure one ahead of time to avoid stress and last minute headaches. Thanks for the good advice to Joseph as well by the way.

Thanks @Henry Clark! My goal is to purchase another facility next year once I have this one automated and running smoothly. I have the benefit with this one in Texas to have fantastic friends and family "boots on the ground" that I can trust, have connections, and are amazing, knowledgeable people! San Antonio is a great market! I don't know anyone there so it would be tough to invest in, but I'll keep that in mind. I feel Texas will appreciate. The SFR I purchased in March down there is up 9% in 8 months! I'll take that return any day!

Thank you @Henry Clark! Got earnest money in today and should have my first facility in my name before end of year, can't wait! Have a great week! 

Travis Rogers