North Dallas/Plano mentor needed

[Tyler Blackburn]

Good evening BP community!

Through out my experience in the military, getting a degree in biology, fatherhood, and working as a pharmacy technician, I never thought that I would end up on the verge of flipping houses! I submerged myself in reading The book on Flipping Houses by J. Scott as well as many of the podcasts here on BP specifically the creative/zero-money-down financing. I am incredibly motivated to hit the ground running but have run into some road blocks. I attempted to contact a hard money lender whom told me that they only lend to companies. So I began looking into forming an LLC. This is where I got bogged down and buried myself in questions.

I do not foresee this is the only step where questions will arise as I have a VERY inquisitive personality and strong desire to learn the correct way to do things. So, I am interested in reaching out and meeting with someone in the north Dallas (ish) area that could mentor me or allow me to shadow them during a house flip. I tend to catch on to new information quickly, but with there being so much involved in real estate and so many potential wrong turns, I would like to see success up close before I mess up TOO bad. 

So if anyone knows of any real estate investors with experience flipping houses that would be potentially open to me shadowing them, please let me know!

Thank you all and have a good evening!

Tyler Blackburn

[Karen Foster]

Good evening Tyler,

Unfortunately, I am not in the Dallas area. However, I would recommend you save yourself some time by forming an LLC and opening a business account providing you are in a position. This will allow your entity to become seasoned while you are learning, and it makes you look more like a serious investor to lenders. The majority will require you to have an entity before they will lend you funds on a property or provide you with a proof of funds letter. Also, join your local real estate investors club. There you will meet like minded investors whom you can network with, and possibly find a mentor or mentors. While you don't need an LLC to wholesale deals, you still want to protect yourself and your interests. Check out Legalzoom.com, Amerilawyer.com and google other companies in your area. Both of these companies represent the state of Texas, and all other states.

All the best to you, Karen