All Forum Posts by: Account Closed

Thank you all -- Yes, I will be going for a trust. Appreciate this great BP community's support. 

Very interesting.. @Nicole A - I will definitely consider that. 

Thanks @Jon Crosby. I have definitely considered that, but I do have mortgages on almost all my properties and I have heard/read online that lenders shall not allow moving the ownership to an LLC. I am not opposed to spending for an LLC if it can solve my privacy problem. 

Hi, I am primarily an SFR investor with about 6 years of experience. Very eager to get into the 4-10 unit MFR market. However, deals are very hard to come by and those on the market for long are barely cash flowing or less than 3% CAP rate. Looking for a broker who would help me find + close a deal and continue to grow with me. My criteria is - 4-10 unit MFR in Waco, TX, College Station, TX, Austin, TX, or DFW area under $1M. 7-10 % cap rate and at least $150/door/month cash flow (after debt service). Feel free to send me a PM. Thank you

Hi everyone, I am an investor in the Williamson county, TX area. As you know, information is publicly searchable on how many properties one owns. I do not have an LLC, so I buy properties in my name. Since I also have a Full time job, I would not like colleagues and acquaintances to be able to see how many properties I own and what is their value. Especially during property tax season, I do get a lot of taunts and questions. I have been able to remove personal information from the county appraisal district website but have not been able to get the tax assessor website to do so. They only do that for law enforcement, judiciary and victims etc. Any advice on how I can hide/mask my personal information? Thank you

Has Anyone determined the best practice to setup rental properties in Wave? I see options like adding properties as customers (or should tenants be customers?) The other way is to add them as a category so you can categorize expenses by property. Third way is to add them as a business. I am confused, please help. Thank you

Has Anyone determined the best practice to setup rental properties in Wave? I see options like adding properties as customers (or should tenants be customers?) The other way is to add them as a category so you can categorize expenses by property. Third way is to add them as a business. I am confused, please help. Thank you

Thanks @Kristina Heimstaedt and @Account Closed. From what the realtor briefly told me, it is currently legal. The term legal non-conforming sounds right. I also remember him telling me about the grandfathered clause. He also recommended to not request the city for re-zoning as that is like opening a can of worms. 

I will still check if they had the permits when they converted it to a fourplex. Yes, I also agree 4 is better than 2 and would prefer a fourplex to a duplex. I am willing to accept the recreation risk in case of a burn down. 

Hello,

I am considering buying a 4-plex in Fort Worth, TX. Great deal with 14% cap even on a 15yr note. (I'll be buying all cash though). It's also remodeled.

The catch in the deal is, the city has zoned the neighborhood to be SFR/Duplex only. I'm being told that it will cost only a couple of thousand to re-zone it. Is that true?

The risk is if the re-zone request is denied then the city might force us to convert it back to a duplex/SFR.

Anyone has experience in this area? Any advice is helpful.

Respectfully, please don't comment just talk to an expert. I already know that.

Thanks