All Forum Posts by: Anna Marie Holland

Thank you everyone so much for all of the advice!! I haven't owned a homestead so I can definitely still use an FHA with the 3-5% down. I think Texas also offers some sort of first time home buyers down payment assistance as well meaning I would have that little bit of extra help. I don't have a portfolio to show lenders so I can definitely agree with you all that I'm likely going to be seen as a risky investment on their part. I like the idea of house hacking. I currently rent out two of my rooms in my 4b home to roommates so maybe (if I can find one) a duplex or multiplex using an fha will be the way to go to start getting some experience.

Thanks again everyone! 

Hello!

I’m new to the investment world and have spent the last few months getting to know as much as I can about the current market and absorb as much information as I can find, but I had a few questions before I dip my feet in the water because the last thing I want to do is get locked up in a project that maybe I shouldn’t have. I am someone who prefers to be prepared as much as I can be and know as much as I can before jumping into anything- especially legally binding contracts.

My goal in real estate is to start with flips and eventually work my way into actually hanging onto some of those and turning them into Airbnb or rental properties/buy and holds. So my question to all the veterans is:

what did your first deal look like? How was that experience?

Did you use a private or hard money lender or both?

Did you put money down or did you use OPM?

Did you hang onto it and refinance through the bank?

If you flipped it, how was that process? Was it a light rehab that only took a few months, or a full gut that took most of a year?

I'm in the Austin TX area and I want to jump into this and I've really been doing everything I can to learn from people here, youtube, webinars, Facebook groups, and the local REIA(although I feel I don't learn much other than what bigdog has to offer), I'm just not sure how to get my feet to move and I'm hoping your stories will provide me with just a little more knowledge and inspiration to finally start making moves. Thank you!

That is true Ryan! I have been thinking about upgrading to the pro membership, but I wanted to get a feel for the site first and make sure it’s a platform I will use enough to take advantage of the pro membership. Seems like it’s a good investment though and this community feels like where I need to be to learn what I need to learn to be successful

I can’t figure out how to tag people but yes Steven and Matt, as someone who is new and still trying to figure out how to navigate the waters, the seminar definitely put on the charm and made me feel like “wow in order to succeed I will probably need this network like they said” but the price tag is definitely not within arms reach for someone like me who doesn’t have the capital. By the time I have the capital I will have done a few deals already (hopefully) and won’t need the mentorship they offer anyway and can put that 60k into another deal instead. The problem I’ve been running into is finding someone who will allow me to learn from them (maybe partner with me on my first deal if it’s a good one and the numbers make sense for them) without a price tag attached. To be fair though those interactions were only from Facebook groups.  I’m hoping the meetups will be different and learning over time from you kind folks on BP will help arm me with the knowledge to be successful. 

Thank you so much for all of the information everyone! I attended a few workshops virtually but haven’t found an in person meet up to join yet. I have noticed the workshops appear to be the same thing every time I get an email though- “here’s what you can learn, go to my 3 day seminar” and then most of it is talking about the big dog program. I’m in no way talking bad about it, I would love to have the resources they talk about but I can’t afford the $60,000 for a membership. I’m very new to the real estate investment world and want to form genuine connections and friendships along with a bit of guidance so I think I could really benefit from some of the smaller groups that meet up in my area (once I find them!) like you guys have recommended.  Thank you guys for the advice I really appreciate it!! 

I'm looking to network with other local investors in the area to help build my knowledge, grow relationships and also meet other investors that may be interested in properties I may have under contract in the future but I'm not sure if I should be investing in paid membership groups like the REIA or if there are free groups or meetups. I'm new to the real estate world so I don't really know any other investors and I'm having trouble finding any kind of meetups. I guess my question would be whether or not I should be spending money on the paid memberships or if there are any recommendations you have for finding local meetups where I can network and meet new people.

Thanks in advance for the information!