Beginning Investor/Houston area

[Judson Thornton Tucker JR]

Hey everyone,

I am new to Real Estate investing but have done my homework, and my business partner and I are ready to jump in. We like the idea of starting out in Wholesales or buying from a wholeseller with hard money. We are mostly interested in buy and hold but would eventually love to get into the flip game. Was wondering/hoping for any kind of advice on starting out, particularly in the area of analyzing a deal accurately. We are both high energy guys and love the idea of being bird dogs also, just have to learn where to look first and would love some advice in that area.

Thanks!

Thornton 

[Simon Shih]

If you are buying from a wholesaler with hard money, then you will be a flipper You might rehab and hold, but the process is completely the same except in the end you will be hiding the property and refinancing it instead of selling it. 

My investing style is BRRRR. Buy, Rehab, Refinance, Rent and Repeat. I am about to close on my first deal and I use the 70% rule for the rehab portion. I try to stick to the 2% rule for rentals, but that is harder to do. I believe if I'm making a minimum of $150 profit per door, then I am doing okay.

As far as finding deals, I have had luck with mail marketing and also with driving for dollars. I have been bogging about my whole process from start so it might be helpful to read.

Good luck to you.

Let me know if I can help.