All Forum Posts by: Tim W.

I think a portfolio can be a good way to go, but like most people who will lend you money, you will probably need a down payment. You may find an owner willing to self finance the deal, but they usually want money down to see you are serious.

If you buy a portfolio deal, make sure you check every individual property. Make sure they are actually rented. Check deferred maintenance.

That's the BRRRR strategy that Brandon always recommends. Buy, rehab, rent, refinance, repeat... great way to do it.

Just reach out to some local banks. Rates will be higher than a traditional Fannie Mae deal but not bad. I would assume in the 5% range. Rental financing is usually higher than personal. You will need to really stop by some of your local banks. Present them with the financials of your current properties, and let them know your criteria. If you have a track record of good cashflow, you shouldn't have too much trouble finding a portfolio lender.

Im not a wholesaler and have no interest in the hard work that it takes. Be prepared for lots of hours of hard work mailing people, calling people, and driving for dollars. Wholesaling is a way to start with minimal investment but what you don't put in cash, you will put in with sweat equity. There is no free lunch. There is also a ton of competition.

I think if you set your head right, have correct expectations, you can do well. Just realize that no self grown business is easy and you have to put in the time to be successful.

Hey guys, Im new here and haven't invested yet. That being said, Im in the DFW area of Texas where we are experiencing a high in the real estate market. Companies are coming to Texas and people are following. That being said, houses are selling for way more than I believe they should (way more than Im willing to pay). Im hoping to sell a property I have been sitting on with the prior hopes of building on. Im hoping to have a couple hundred thousand dollars to start investing but Im not sure if that is the right thing to do.

Prices are high and properties are still selling within a week or two. New home construction is booming right now. There is a HUGE development going in north of the DFW airport that is probably 100 acres or more of $550,000-650,000 houses going in. It seems like they cant build fast enough. I honestly don't know how people afford these houses. I make enough money that I "should" be able to buy a house in that range, but know that is just asking for trouble.

Looking ahead, I feel like there is going to be a market swing. Housing is crazy right now and our economy seems to be doing "too well". I feel like there is going to be a downturn here in the next year or so. Im seeing more and more articles in newspapers with people predicting a crash.

So, I have been listening to the podcasts going backwards. Just finished Show 131 w/ Serge Shuhkat when it hit me. He said he's not going to invest in anything in his market right now because prices are way to high. This dilemma has been bugging me for the last couple months and when I heard his answer on the podcast, it hit me in the face. I think hes right and it validates my fears.

So, what would you do? Im not interested in investing in other markets. I have a control issue and want to see and follow my own properties. Plan on managing them myself. Any suggestions?

You pick...your pride or your wallet.

What is she actually doing for you? I don't think you need an agent at all. A contract and a title company is all you need.

What kind of returns are you guys seeing on average syndicated deals? I have seen a couple threads where they say not to expect any ROI for the first year. The lifestyles unlimited is not interesting to me at all paying to invest.

@Nick B. Thanks for the reply. That is encouraging that you can invest a moderate amount of money and have some credibility. Are you investing in a small group or something like Lifestyles Unlimited? Are the returns decent? Im struggling to figure out if investing in a syndication like you is what I should do or hold out for decent deals in our area.

Thanks

@Nick B . What kind of percentage are you investing in these large deals? Does a small percentage give that same credibility? Im local to you and looking to get into MF investing but new to the game. 

Tim

Do you have to be with a broker to get MLS access or just join your local group? My fiance is going to get her license just for investor deals for us. We have no desire to sell houses or show houses. The convenience of searching MLS and seeing houses on our schedule is the key.

THanks
Tim