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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: The Alchemist who wrote (2669)	7/10/2019 4:47:33 PM
From: E_K_S	1 Recommendation Recommended By toccodolce Read Replies (1) \| Respond to of 2722

Had owned a 4-plex in late 90's and they were section 8 tenants. Probably would never do it again if I planned to keep it years. Our's was a flip bought at auction (located in Silicon Valley during my flip days). Nothing identified in TX other than a great growth area. I would focus on newer construction and target in an area where there are good jobs (see what $1,300/month buys). If you earn $20/hr and 1/3 of your income goes to rent, you can afford $1,040/month. Two people working would be $2,080/month. If you can pick up units at/near $100K/unit and have a $25K/unit fix up budget, you add value and those monthly rents work fine. You make your money on the Buy. Even at $135K/unit (w/ no fix up) will work, but I expect some market drop (30%) in next few years. Every location is different but well worth the cost to stay in the better areas and do the fix up. FWIW, that link I posted upthread of a nice 4-plex in Carson City Nevada runs about $135K/unit and they say rents are around $1350/month. In the 2008 crash, same 4-plex sold at/near $65K/unit. 4-plex or even 6-plex not too bad if you can Buy at $75K/unit. I am focusing in NV as I am close enough to visit and/or over see fix-up and many of the Cities near Carson (Minden, Gardnerville) are in growth mode w/ Google & TSLA having new manufacturing facilities here. Remember, no State income tax in NV, TX and/or FL. Good Investing EKS P.S. Very important to have your Fix-up crew identified before hand. Pay going rates (or higher) if they are good. I typically will pay time & materials. I also may sub contract out certain projects (like painting) but depends on your crew and experience.