Cover of Texas Rentals: 0 Deals Cash Flow at 7.625% — Arkansas Still Does With 5% Down

Texas Rentals: 0 Deals Cash Flow at 7.625% — Arkansas Still Does With 5% Down

Texas Rentals: 0 Deals Cash Flow at 7.625% — Arkansas Still Does With 5% Down

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Send us Fan MailMyka had Claude build a dashboard in about five minutes: every 2016-and-newer 3-bed, 2-bath-and-up house for sale in his Arkansas and Texas markets, run against HUD rents at a 7.625% rate. On the Arkansas side the screen is mostly green — a 2018-built four-bedroom in Jacksonville, right by the Air Force base, listed at $175,000 after 111 days on market, cash flows $526 a month over the payment at sticker price, and still works at 5% down. Then he flips it to Texas and the whole screen goes red. In Grand Prairie: 28 listings, and zero that cover their own mortgage, taxes and insurance — with HOAs already filtered out. Raw, uncut and solo this week.Episode 354! Myka is on his own for a late-night one about a market that is shrinking, not crashing — he walks back last week's word and says prices are correcting to COVID levels. Wholesalers are sending deals with a contractor already attached. Texas property taxes on top of the Fed's hike are killing the numbers, which is why he 1031'd out of Texas into Arkansas. Why you have to be a sniper now instead of throwing buckshot, why a midterm-only buyer still needs to be where short-term is allowed, and what happens if midterms slow down: insurance clients, and the house they want — 3/2 or 4/2, fenced yard, garage. Then home ownership turning into a luxury and the $200K-a-year debate, why new builds with no garage are off his list, lowballing $175K down to $150K and sending 20 to 40 offers a day, the neighbor with a 3% rate who can undercut you, Arkansas's ADU-by-right law and 10,000 square foot lots, the property that did $70,000 its first year, sub-to deals, and the 2-1 buydowns catching first-time buyers.MENTIONED IN THIS EPISODEBooks• Profit First — Mike Michalowicz (how Myka sets aside vacancy and capex)People• David Greene and Brandon Turner, former hosts of the BiggerPockets podcast — the 2-1 buydown warning• Shout-outs: Steve "Stevie Stacks" and MahoganyTools & programs: Claude (the deal dashboard), HUD rent data, Redfin, Navy Federal's second-home loan (Myka's tip: 5% down, no PMI — confirm current terms with them)CHAPTERS0:00 Cold Open0:38 Deals Are Shrinking, Long-Term Cash Flow Is Dying1:18 Wholesalers Sending Deals With a Contractor Attached1:44 Texas Property Taxes Are Killing the Deals2:18 A New Build Sitting 311 Days in Arkansas3:12 Buy Where Short-Term Is Allowed, Even for Midterms3:49 Be a Sniper With Your Deals, Not Buckshot4:38 Texas: Rough for Investors, Different If You Live Here4:59 Why Myka 1031'd Out of Texas Into Arkansas5:18 Not Crashing — Correcting to COVID Levels6:26 $20K Off Isn't a Discount — Check the Cash Flow6:55 If Midterms Take a Hit: Insurance Clients7:31 The House They Want: 4/2, Fenced Yard, Garage7:53 "Home Ownership Is Turning Into a Luxury"8:16 $200K a Year to Live Comfortably in Texas?9:51 If Your Realtor Won't Lowball, Get a New One10:24 The Claude Dashboard: Arkansas vs Texas10:57 Arkansas: Built 2018, 111 Days on Market11:44 Cash Flow All-In vs PITI Only12:15 Using HUD Rents as the Floor13:17 New Builds With No Garage Are Off the List14:03 Jacksonville, Arkansas: Right by the Air Force Base14:56 Tip: 5% Down on a Second Home, No PMI15:29 Send 20, 30, 40 Offers a Day16:18 Build This Dashboard in Claude in 5 Minutes16:56 Lowballing $175K Down to $150K17:28 Why So Many Yards Have No Fence17:44 Duplexes: The Cash Flow Is Thinning Too19:05 Flip to Texas: Everything Goes Red19:51 Grand Prairie: No HOA, Short-Term Allowed20:28 A $4,426 Payment vs $5,500 Midterm Rents20:44 The Neighbor With a 3% Rate Can Undercut You21:46 Arkansas ADU by Right on 10,000 Sq Ft Lots22:16 $70,000 in Year One22:51 Will Texas Ever Go Big on ADUs?23:36 What Still Works in Texas: Sub-To24:08 2-1 Buydowns Are Catching First-Time Buyers25:01 Fan Mail and Where to Find UsSupport the showWork with us. Interested in professional management or consulting?Myka — Sharebnb: www.sharebnb.comSteve — Argest Rentals: www.ArgestRentals.comSign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hostsMyka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@EntrepremarriageAll our links: linktr.ee/liveletthrive#airbnb #airbnbhost #shorttermrentals #midtermrentals #padsplit #rentbytheroom #coliving #corporatehousing #BRRRR #realestate #realestateinvesting #VRBO #shareeconomy #airbnbsuperhost #airbnbpodcast #sharebnb #liveletthrive #liveletthrivepodcast #biggerpockets #directbookings #bookdirect #dfwrealestate
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