All Forum Posts by: Yushengji Zhou
Yushengji Zhou has started 2 posts and replied 3 times.
First time investor from California. I plan on buying a SFR in Dallas Fort Worth area for about 220K. I wonder what area would be a good choice. I was looking at the TCU and Joint Force base area. However, for my budget there is not many options available. I wonder if Fort Worth is like Dallas there is more developing on the north side and People are tend to move to the North side? I plan on take a trip to there to know the city better. Just wonder what area would be a decent choice
Quote from @Robin Simon:
Quote from @Yushengji Zhou:
Hi, My name is Roger. I currently live in Los Angeles. I get to know bigger pockets and the real estate investing world last year.From that moment, I have been saving up. So far, I have saved about 50k and i want to buy my first single family house rental property in Texas. I understand there is no way i can start with this amount of money and invest in my area and expecting a positive cash flow.That's why i choose Texas. My goal is to let rent fully cover my monthly loan payment and generates couple hundred positive cash flow every month.
I am considering to buy a house around 200k with some mild renovation need to be done. In that case, i am capable of covering the 20% down payment and closing cost with the money i saved up. I would expect a mild renovation expense about 8k. I am just curious if the plan is workable and if there is anything I miss or need to rethink about.
I realize that I don't know much about property management company, if I am going to invest in Texas. I really need to use a property management company. I wonder how everything works between property owners and property management company?
Have you considered traveling to the markets in Texas you want to invest in? TBH - property managers are going to vary, and you are going to want to likely interview them in person. Also, have you considered other strategies like multi-units or STR/MTR? Unfortunately in the current environment, its very hard to have SFRs cash flow unless doing massive renovation BRRRRs (not light 8k stuff) especially when you have a PM to manage. Cash Flow is going to be tight as it is and adding on a PM if its a vanilla long-term rental is going to make it just tougher
Actually, i do plan to travel to the market before i buy a SFR. I don't know exactly what to look for when i interview a PM. Do I just go to their office in person and tell they that i Am going to buy a SFR soon and i'd like to see their terms?
I don't fully understand "vanilla Long-term rental". Since it is my first SFR. If the rent fully cover my monthly payment and PM cost, after that i can still generate $200-$300 cash flow, i am okey with that. I think overall that i am gaining equity purely on rent.
Hi, My name is Roger. I currently live in Los Angeles. I get to know bigger pockets and the real estate investing world last year.From that moment, I have been saving up. So far, I have saved about 50k and i want to buy my first single family house rental property in Texas. I understand there is no way i can start with this amount of money and invest in my area and expecting a positive cash flow.That's why i choose Texas. My goal is to let rent fully cover my monthly loan payment and generates couple hundred positive cash flow every month.
I am considering to buy a house around 200k with some mild renovation need to be done. In that case, i am capable of covering the 20% down payment and closing cost with the money i saved up. I would expect a mild renovation expense about 8k. I am just curious if the plan is workable and if there is anything I miss or need to rethink about.
I realize that I don't know much about property management company, if I am going to invest in Texas. I really need to use a property management company. I wonder how everything works between property owners and property management company?