All Forum Posts by: Aaron Kovac

@Jaron Walling understandable. I’m here in Austin and a residential lender, so I see the same things in the market often. I’m not even considering investing in Austin for that same reason. It’s shifted my focus to other markets throughout Texas where cash flow is more likely to be found.

@Jaron Walling I can believe that. Anything that hits the MLS these days is, like you said, gobbled up almost immediately and very over priced. But like any market, there are still deals to be had i'm sure. Just a matter of finding the right ones. Appreciate your feedback!

@collin 

@Collin Corrington That is great to here from someone who is local! Sorry for the delay, i haven't been getting notifications from BP lately. I appreciate your insight and it makes sense why you would have an inspector come out and compare to a GC. I will definitely let you know when I plan to come down to SA next so we can hopefully grab lunch or a drink. It would be nice to meet an investor who is already involved in the SA market! 

@Crystal Smith got it. That makes perfect sense! Thanks for all your insight! I appreciate it :)

@Crystal Smith makes sense. When you do an inspection on a potential BRRRR, are you walking through with only the GC or are you also hiring a professional inspector as well?

@Crystal Smith great advice! Yes, inspection period is a must. I need to build a team of boots in the ground myself, before jumping in. How did you go about doing that in an out of state market?

I'm looking at the San Antonio market (live in Austin, about 1.5 hours away). I know some realtors in SA from working together, as I'm a lender in Austin, so I figured I would start there. But I'm not sure whether the agents I know are versed well enough in the investor space that I'm trying to get into with BRRRR's. Or whether that have the connections to other GC's and property managers. Curious how you found your boots in the ground out of state.

@Darius Ogloza very good points. Understanding the market I’m looking to invest in has been priority number one. I just have to get better at running comps to get a good eye of what will make a good deal or bad one. And from there, build a team that I can trust before deciding to jump on a deal or not. Appreciate the insight!

@Ryan Kelly thanks for your feedback Ryan! Just like anything, learning through doing will teach you a lot more than any book or guru can.

@Aaron Gordy thanks for the feedback. I figured as much with New Western. I had never heard of them in my time as a lender, and can only imagine if I’m getting emails from them, how many other hundreds of investors are as well?

That being said, you are right, I need to dig in a little deeper and understand the general costs associated with certain rehab items to better educate myself before wasting anyone’s time much less my own. Appreciate the input!

@Jon Kelly thanks for the tips. You’re right, I need to establish a team first and foremost, especially if I’m going to be doing this from a distance. Seems to be the common trend besides reading books to educate myself in rehab cost estimates. Thanks!