All Forum Posts by: Aaron Bihl

There are definitely ways to bootstrap it when getting started, just not super sustainable if you're trying to build a business. If I needed a deal and didn't have much funds to market I would pull an failed/expires MLS list from propstream and coldcall it until I got a deal. Also, there's community around REIsift (a list stacking tool) that's all about finding and researching messy deals and people in that group consistently pull good deals without huge expenses.

The reality is if you want "tons of leads" you'll probably have to spend tons of money on marketing.  My company buys 6-8 houses a month in the San Antonio area and our average cost per deal is around 3k in marketing...you can do the math... 

Buying off market deals is simple but its not easy

you might need to find a new city lol

What are you looking for?  Glad to sell ya something

This was hands down one of my favorite deals we have done to date. We buy and flip a lot of trailers. I could go on and on about some of the things I love about trailers, but a lot of times we are buying them at a lower % of ARV than we can get houses at. Folks are generally scared of them, think they have no value, or don't know what to do with them.

As our business has grown we’ve started to wholesale more because from a capacity standpoint you just can’t flip everything and need some cash coming in as well. I had the idea of giving someone an opportunity that didn’t exist when I was getting started. Let’s assign them a house, guide them through the process of flipping it, hook them up with our contractors, hook them up with an agent to list it at a discount, guide them through the hard money process, and in this case I even lended 2nd position for the down payment.

We walked the house with him and went through the details of exactly how we would remodel it. Where we would spend money, where we wouldn’t. Because the reality is, anyone can overspend on a house and make it look amazing but where the skill and experience comes in is knowing where/what to spend money on to make the biggest impact and create the best return.

The guy we sold this the house to definitely took some chances and I think it was a bit out of his comfort zone. It turned out to be a little messier than expected as the owner didn’t really want to leave and was effectively running a junkyard out of the house. It took a few weeks to get him out and when he did he left behind something to the tune of 20+ junk cars, 300 tires, amongst other random car parts.

Once the seller was out he was able to get the rehab got rolling. And from 65 days from closing it was finished and listed. I don’t know his exact numbers but depending on the sale price he should be netting around 40-50k. Not a bad day.

We made 25 on the assignment, and I can honestly say I get more enjoyment out of seeing his success with this flip than I do our own projects. When I was getting started I would have killed for this opportunity, so why not provide to others.

Before: https://photos.app.goo.gl/zFJeqofYcgCmmPah6

After: https://www.zillow.com/homedetails/421-Bridlewood-Path-Seguin-TX-78155/84030192_zpid/];l,

 I think where Joe is coming from is that these are different skill sets.   Buying and negotiating deals direct to seller is a very unique skill set.  Someone may be a great investor but going direct to seller is a different ball game.  I know a lot folks who own rentals or flip houses but negotiating a deal with a crackhead isn't really in their wheelhouse.

I don't think the HML will care, they will look more at your experience and the deal itself.

@Joe S. what areas in particular are you looking for?  I may have folks I can connect you with.  I'm fairly well connected with some good operators in most parts of texas.

We have a house in Canyon Lake, TX (about 30-40 miles north of san antonio) it's around .75 acres and its technically 3 lots (the appraisal district shows 3 different lots) but it's one parcel.  I'm trying to figure who need to talk to so that we get the other lots to be separate parcels so that we can either sell or develop them.  I'm not even sure what kind of a professional we need to assist with the process.   If anyone has experience with this and could chime in that would be great.

Not sure on medium term rentals in beacon hill but I would probably stay away from short term renting there.  Honestly, I absolutely love that neighborhood but all the neighbors/residents there make it a horrible place to own a property.    I had a short term rental there a few years back, and it was an awesome house and did fine but the neighbors made it not worth my time.  Neighbors on both sides were constantly throwing a fit about anything and everything.  I just wouldn't want to own anything there.