All Forum Posts by: Arun Chandra

Thank you guys for the input! 

@Joe Homs I am not planning on selling RE so I would go with a discount brokerage for MLS access. I've heard it'sworth looking into smaller brokerages, unlike ReMax or Century 21, to gain good RE sales experience and keep costs lower.

So if I read your comment correctly @Wayne Brooks it would be up to the broker & Leander to decide how my commissions should be dispersed?

Hello everyone,

I just passed my real estate license last week and I'm waiting for the paperwork to clear the California BRE to get setup with a broker.

I am getting married this October and recently moved from Texas to Orange County California. With the housing prices being so high in comparison I decided getting my RE license would be beneficial to be able to find our own place and for investment purposes.

The advise I am seeking is how does applying your RE commission towards the purchase of your personal home work? I spoke with a lender to get a pre-qual letter and she said that I can't use my commission towards the down payment of the house, but I can apply it towards closing costs ...

Is that the norm? Are there other things I can use the commission money towards? Just curious what other agents do. Any insight would be helpful..

Thanks in advance!

Hello,

I have a great realto that is also a investor himself. He also has staff to help you find the best deals and he lives in Plano and serves your area. Let me know if you're interested in his contact info. 

-Arun Chandra

Hi Alpesh,

And welcome to the site! I was in your shoes just a year ago when I decided to purchase a rental property in The Colony..

I would highly recommend listening to all of the podcasts to get started. They cover so much information and it's easy to listen to at the gym or to and from work. 

Feel free to message me to bounce ideas off one another too! Hope this helps!

-Arun Chandra

Hi Ryan,

I was born and raised in your neck of the woods! Welcome to the site! As Mark mentioned there are a ton of resources here on BP to learn more about flipping. I would start with the Podcasts.. So much information that you can absorb while driving down the road. 

If you have any deals local to your area I would be interested in learning more and potentially investing. 

Good luck!

-Arun Chandra

Hello,

It appears the site is down. 

-Arun Chandra

@Josh Forest

Not sure how to get the name link to work above, suggestions anyone? Using a iPad...

Hi Josh,

I believe it was in a Kiyosaki book that said, "There are two different mentalities when it comes to shopping.. A poor persons mentality and a rich persons mentality. A poor person spends their time looking for deals/sales on food, clothing, diapers, shoes, etc... which saves them money on purchases that take money out of their pocket. (A dollar saved is a dollar earned.)

And then there's the rich persons mentality, and they spend their time looking for great deals on investments/businesses (assets) that save them money (tax benefits) and put money back into their pockets on a continual basis (cash flow)." 

I'm sure I butchered the quote but I think you get the gist. I'm sure someone smarter than me can chime in with the name of the actual book or a better paraphrase. Just to be clear I look for deals on everything, and the above paraphrase is to simply make a point. 

To answer your question whether you should start looking now the answer is absolutely YES. You don't have to necessarily have a realtor show you one millions places without a intent to purchase, but I'm sure a realtor would be more than happy to show you a place or two so you can get an idea of the area. And of course they can set you up on their favorite daily, weekly, monthly, hourly, by the minute, every second property search emails that send you listing as per your criteria. Lol. But that is the best way to get a feel for your market. Sites like BP can be used after so you can start learning how to run the numbers on deals your find. I literally looked at over 20 deals before I bought mine.

Again, I think you have the right idea and I believe we are all looking forward to your future posts. Launch that new product, take it to the next level, buy real estate, build an empire.

-Arun Chandra

Hi Josh,

Congratulations on making a decision to house hack. I think you are definitely on the right track with having someone else help pay the mortgage.

Unfortunately I think you should wait until you have stabilized your income to make sure you can payback the loan. Taking on any kid of debt is a huge responsibility that should not be taken lightly. You don't want to end up biting your nails at the end of the month trying to figure out how your going to make the next months mortgage, deal with property repairs, or just cover your living expenses. 

I was born and raised in your neck of the woods and understand your market. It's pretty hard to get a property out there without paying well above list price and it will continue to rise as Toyota and Fedex move in. So I wouldn't say time is on your side, but I think patience is key here. Launch that new product first and decide from there. 

Hope this helps, good luck!

-Arun Chandra

Try the site below.. I heard them talk about it on one of the podcasts. They'll send someone out to the property for you. 

Hope this helps, good luck!

https://www.wegolook.com/

Hello,

I was born and raised in The Colony area and purchased a rental there last year. Definitely paid a little over asking but only a few K. Paid $131 and it appraises at $142k based on the recent comps. 

I heard they were building the cowboys training camp north of Frisco towards hwy 380 and Dallas North Toll? If that's the case I'd assume anything off hwy 380 should be a good deal moving forward for a buy and hold... 

Also, the Lake Dallas/Corinth area might be worth a shot as well. They are expanding Interstate 35 up to there and they already have a stop for the rail transit system to Dallas.

Thoughts?

-Arun Chandra