All Forum Posts by: Angie Shires

@Corey Young Sounds like you and your wife have a plan in motion. The Tyler inventory is extremely low right now...and has been for over 6 months, so people jump on things (even when the numbers don't work). 

Have you thought about looking at the properties that have been on the market a while? Yes, they may need work...but you make your money when you buy! Either way, you don't want to get in a bidding war! 

@Kenneth Dazey, welcome to BP!  Have you tried the Meetup app for networking? That might be the best place to find it. 

Honestly, the way to find a mentor is to build relationships organically...most people that you would want to mentor you are busy people, and if they don't know you probably aren't going to give you the time of day. You should start building relationships one by one and put effort toward not only learning from others, but doing what you can to prove your worth to others. Folks are way more inclined to help you that way. 

Are you currently working in the real estate field? If not, you should consider taking an entry level job and learn all you can! You will have the best luck by filling out your profile completely here on BP. This is a great place to meet and learn. Explore the site, read the forums (every answer to every question is there), watch the webinars and use the calculators. 

Good luck to you, I'll be watching for your success stories! 

@Edward Andrews Thank you for you service! I know that you must be excited about the next chapter in your life, sounds like you've already got a plan. 

I am in Tyler, TX...which is in East Texas, so I'm not familiar with Groves...but I would suggest finding a Realtor in the area (you might have to call a few until you find one you like) and start communicating. They will be able to answer your questions. Be honest about why you are calling, and work on building that relationship. They can also suggest other people you should reach out too...like lenders, insurance agents, CPAs, property managers, even other investors. 

You can also ask them to send you properties within the parameters that you will be looking, then you will have a better idea of what the market is like in that area, even before you move! 

Do you have any connections there? 

@Patrick Glenn First off, thank you for your service and welcome to BP! What type of loan you get will really depend on a lot of different things...credit, down payment, what type of property you want to purchase, will it be buy and hold or flip and what are your long term goals? I know that's not an answer, but there are so many options! 

What method are you leaning toward? Have you been able to save for down payment and reserves? Also, where are you located? 

Looking forward to learning more about your goals! 

@Austin Patenaude What do the other homes in your area (similarly priced) have that you don't have? That's really the first question to ask. It will take a little research, but most of it can be found online...do a search just like a renter would do and make a list of what each property $150 above and below your price range have and don't have. 

Another thing you might want to consider, if you are in a lower income area would be to increase the energy efficiency. That can help you maintain renters, and could be a great selling point for you when advertising. Could be as simple as adding insulation, replacing windows, upgrading HVAC. 

It's tough to give a definitive answer without knowing more about the property. New paint, updated lighting and Kitchens are usually a great place to improve! 

Good luck! 

@Taylor Wilson I like to think of these missed opportunities and calling around a little differently. Consider it an education while making connections. You can find a lot of lenders private and hard money here on BP...it just takes some time to make the connections and do the research on the people and companies. 

Local lenders are a great resource...and more than just for acquiring loans. Take the time to build the relationships and find out what each bank has to offer. You will find that the more people you talk to, the more you learn. 

Real estate investing is all about educating yourself, building relationships and analyzing deals regularly. Take the time to completely fill out your profile, be specific and honest with what your goals and experience are and reach out to people that have similar interests. Networking with like minded people will help tremendously! 

@Steven Quintanar Welcome to BP and the world of investing! Congratulations on becoming a licensed agent, as well! 

You're actually in a pretty good place to start working with investors. You are not busy and have the time to spend looking on MLS, previewing properties and meeting investors. It might take a little convincing, because you are young and a new agent.

Do you know many investors in the area you plan to work? Do you know any agents that might need a licensed assistant...or even working with an agent for free...working for free sucks, but the education you would receive is invaluable? Have you interviewed any brokerages yet? 

Next question is how are you paying your bills, and will you be able to continue that while pursuing your real estate career? Are you in a position to be able to purchase a home at this point...maybe live in fix would be good for you? That would allow you to go ahead and start in investing, while building your career. 

So many questions, and I'm so excited for you! 

@Edgar Rodriguez Sounds like you've had a rough year, hope you are back on your feet and fully recovered! A good CPA can save you so much money! Worth way more than their fee! 

Have you tried going to the tab Network at the top, click on members and you can search location and company type...from there you can connect with people, see their stories and posts and see if they have recommendations. 

Also, have you made many connections in your area? I have found that searching for other investors, realtors, etc in the area that you invest can provide a lot of insight! Hope this helps. 

@James Carlson Thank you for sharing. I've really been leaning toward the "boarding house" model this past year and this takes it even a step further! We have a major college and a large community college in town, as well as two large hospitals! 

Our market is doing well, but I think that this concept could be even more profitable in our area! 

Also completely agree with the two living areas, keep them happy and they will stay longer! How did they handle parking? 

@James Turner Congratulations on your first deal! Now comes the fun stuff (and the work)! What kind of rehab needs to be done? How did you estimate the repair costs? I'm guessing you'll cash flow very well unless your repairs are high! 

Wish you all the luck, keep us updated!