Anyone in real estate investment?

[UltraHot85Iroc-Z]

oh no, not the formica!!!!!

cheap counter tops are cheap. we used to get formica counter tops from a place in Garland for like $30/ft. That's linear feet, not square. That's framed out and finished, ready to install. Average kitchen was maybe $500?

so you're going to spend a few grand to get the house ready to rent again...

Ok, bump the rent to $1,300 or whatever, and bring in another $47,000 over the next three years to compliment the $36,000 you brought in over the past 3yrs.

"bad tenants" are the ones who completely destroy you house... cause tens of thousands of dollars in damage... don't pay rent to the point that you have to go through an eviction process...

while it doesn't sound like you had IDEAL tenants, I wouldn't say a few grand in repairs (minus the $1,000 deposit) is really that bad for a 3yr lease.

a ceiling fan?!? if you need someone to spot you the $200, LMK

It's expensive. I had to do more shit like painting, getting rid of german roach infestation, fix little shit like broken towel bars, garbage removal, clean and scrub the house, etc. Not to mention paying the holding costs like water, electric, mowing, mortgage payment without tenant for a while until the house gets put back in order for new tenants.

[Cooter]

It's expensive. I had to do more shit like painting, getting rid of german roach infestation, fix little shit like broken towel bars, garbage removal, clean and scrub the house, etc. Not to mention paying the holding costs like water, electric, mowing, mortgage payment without tenant for a while until the house gets put back in order for new tenants.

valid points

[UltraHot85Iroc-Z]

Bank I use now only needs 15%.

I'll only buy multi family or nicer 3/2 f-rom here out. Closed on nice four plex a month ago that cash flows really well. Maybe in the next crash I'll pick up an apartment complex.

I pay someone to manage, and for all repairs.

I lost money on them last year. Two ac units, package units...

Are there any decent property managers out there? I heard a horror story. Are they expensive?

[8mpg]

fyi, I deal with a wholesaler, he just sent me a 20 condo property in RISD , 745k for the property rents for 14500 a month, some of you ballers should jump on it. get your investment back in roughly 8 years.

I honestly dont have the money, but do you mind sharing a link? You can PM me if you want. Im really just trying to learn the deals, use calculators and determine ROI, cash flow, etc.

BTW - any chance you'd ever be willing to sit down and talk? Really thinking of selling my property and investing.

[War Machine]

I honestly dont have the money, but do you mind sharing a link? You can PM me if you want. Im really just trying to learn the deals, use calculators and determine ROI, cash flow, etc.

BTW - any chance you'd ever be willing to sit down and talk? Really thinking of selling my property and investing.

Yea pm me your number and I'll send ya the spread sheet

[black2002ls]

Yea pm me your number and I'll send ya the spread sheet

I wouldn't mind the spreadsheets either.

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[kpc01]

I'm a investor/realtor. My dad and I have quite a few rentals but with the current market we are flipping. We try to stay in Denton and Collin unless its a great deal somewhere else in the metroplex. Buy and hold is great but theres not much to be found today that the numbers work on as a rental IMO. We search out deals ourselves but also use wholesalers since they come up with a lot of deals. We pay cash and can close in days so that helps us get to the top of the list but sometimes there are 3-4 folks paying cash. The only bad thing with wholesalers is they make you pay closing, usually a double close and they want to close within 5 days or so. Hard money lenders can do it but have high rates. Also the "packages" wholesalers make up on the properties are very biased so being able to do your own homework on the house and make sure the numbers work is very important.

We sold a house in the Colony last month and made a whopping $401, also closed on a house in little elm the next week and made around $23k so you can see which one I didn't do a good job on running the numbers! I'm also on BP, some great connections and info on there for sure.

[black2002ls]

I feel like Greenville is a good market for buy/hold. A lot of homes in good rental areas under $100k and a lot of those are under $75k

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[David]

I feel like Greenville is a good market for buy/hold. A lot of homes in good rental areas under $100k and a lot of those are under $75k

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We've been doing real well in Commerce.

[black2002ls]

We've been doing real well in Commerce.

I can imagine with the way thecollege is growing. Any interest in doing some flips in Greenville? I am trying to find some partners. Best I can offer at this point is resources and time to manage the rehab unfortunately.

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[kpc01]

Do you have any sources for finding deals out there? I typically like to be a little closer to my stuff because I go by there a lot but if theres some great deals I might be. I'll jump on MLS tomorrow after my showings and see what it looks like on that side for deals. I know most of Denton is in the $100 sqft right now minimums

[black2002ls]

We are $60-80/sq ft in this area. I am see some HUDs and foreclosures for < $50/sq ft

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[03mustangdude]

Just a note about hud homes they used to not check occupancy but I had someone stop by last year to verify I was the owner that purchased it and was not a renter.

[black2002ls]

Just a note about hud homes they used to not check occupancy but I had someone stop by last year to verify I was the owner that purchased it and was not a renter.

You have to watch the process. They have specified bidding periods for owner occupied and investors.

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[03mustangdude]

Yep but nonprofits and goverment only lottery hud homes are the best deals ever.