All Forum Posts by: Chris Bounds

#2 for us. We're holding more properties which allows us to pay more than what a flip would require. 

I've flipped around 200 houses and wish I had kept a lot of them as rentals.

We will still flip occasionally, but the primary focus is holding.

Renters Warehouse is a franchise flat fee service PM. I know the owner of a Houston franchise. See if they are in your market.

Yes that is common for HML. Once you get some experience you can find private lenders and community banks that will be cheaper.

Yes and I highly recommend it. They'll be a good resource to help underwrite the deal. 

You'll pay more in fees, but you can keep your cash available for reserves or your next deal.

As a side note, regardless of your brokerage once you get a certain amount of transactions and experience you can opt in to Redfin's referral program.

You'll typically get polar opposite opinions, similar to Zillow. People will love them or hate them.

It really depends on your goals. I'm not sure what Redfin offers from a training platform. I've seen a few new agents go there and then hop around elsewhere. 

For training, you can't beat eXp's platform. Yes I'm bias. What other platform offers 50+ hours of live virtual training each week plus the new agent mentorship program.

KW has a big name for training too.

And then there are smaller local / regional brokers that can offer a lot of hands on support.

I'd go if I lived closer! 

Get it under contract and find a JV partner that can help with financing and experience.

Unsolicited advice, but consider the tax implications with this.

You may be able to take capital gains tax free from your personal residence.

If you rent it out for certain period of time that benefit goes away.

Consider taking the capital gains to buy separate rental property.

Either way, definitely use a PM or Realtor if it's your first rental to get the proper background checks, paperwork, and highest quality tenant.