All Forum Posts by: Wesley I.

@Shivani Kumar

Finding people you can trust and rely on and finding a great property manager. May I suggest buying a small multifamily (2-4 units) to occupy in TX. Network to find a great PM or trades. This will allow you to get to know the property, its maintenance items, and slowly tenant proof(upgrade) the units before you move back to CA.

@Caroll L. Brown

I chose Chase because they had 2 locations within 5-10 minutes from me. I also had an existing account with them.

@David Minaya

Whats the activity during open houses? Any offers?

What coastal area? IB or PB?

I’ve seen a lot of price reductions but also seeing quick movement on properties that are priced right, maybe consider the advice to price it under a $1M.

Wish you the best!

@Jacky Johnson

Had the exact same scenario two years ago.

Neighbors dog would try to get me while i was cleaning the yard.

Replaced the whole fence prior to renting the property out.

@Jim K.

See if you have coin appraisers in the area, go to at least a couple of them to get a better idea.

For the baseball cards, you can go online and see how much they go for.

Congratulations! My recent find was bags of half dollar coins in the attic.

@Andrea Prada Serrano

I borrowed from my 401k around 10k for a downpayment on a 440k primary purchase back in 2012.

My neighbor with the same sq ft/layout just sold his for $1.3M a week ago, 3 days on market.

I don’t get that kind of return from my 401k.

@Andrea Prada Serrano

The income from the 2nd unit should offset your largest expense - your rent.

If you can live below market in your area, i consider that a win!

As for property taxes, look at the recently sold duplexes in your area and multiply that value by the tax rate in your county. Its either 2.75 or 2.875 in Harris county where mine is. Surprisingly, it didnt increase this year.

@Zach Knoll

I hire a PM for my out of state and self manage for locals.

@Nicholas Stevenson

Good suggestions to ask the seller if they can carry the note and talk to other lenders.

Also a reminder there will be tax implications when you cash out on the crypto and that you should consult with your CPA before you sell.

@K James

Sounds like the first plumber who inspected was looking for some extra work telling you that they saw problems. Your contractor was good to advise you to get a second opinion.

I will also install a sewage ejection pump in our primary for a bathroom addition (well my plumber is), from my research, im going with a grinder pump. I am on septic not sewer.

I second the pump but have reserves for that old cast iron.