All Forum Posts by: Augusta Owens

As of yesterday I'm under contract for my first fix and flip. It's located in south Dallas, just a little north of Desoto. The brokerage I acquired this property from has a GC that they use regularly and they walked the property with me. Because this GC works closely with the brokerage they are privy to information not otherwise known, such as knowing the lenders I've interviewed, and the forerunner I'm most likely going with currently, has approved my rehab budge of $50k. The fact the GC came back with a quote for that exact amount could be warranted, but my gut finds it a bit too convenient. So I'm looking for some referrals from any who have worked with GC in the Dallas area with good results. Like I said, I don't rule out the possibility that the quote was legitimate, but it seems prudent to get multiple opinions. I close on the property Thursday (it's a fast sell per owner's concession), and obviously time is of the essence.

Thank you in advance. 

I'm a 3 month real estate rookie, but I feel I have a fair amount of theoretical knowledge, and its time to take some actions. I have a duplex house hack on the horizon, but I know its not an avenue I can use in the short term to leverage growing my portfolio. So I have plan of using a construction loan on a distressed property and making it a rental as one of my learning opportunities in the game. I know its ideal to go with a local bank or credit union when looking for a construction loan, and I'll be looking specifically for a construction-to-permanent loan. My question is besides a competitive rates, what else should I be looking for or expect? 

Any and all input would be greatly appreciated. Like I said, I know I have ALOT to learn, but I'm positioning to scale as quickly as possible while still being mindful of my loan to debt, and not overleverage myself.

I have been devouring books by Brandon Turner to get a better grasp on a macro view of the theories of real estate investing . What I would like to are some reading recommendations for learning the meat and potatoes on the processes of completing rehabs, and the processes of working with contractors?

Thanks all. 

Beginning my house hacking journey and looking to connect with as many other investors in our area as possible. 

I'm currently working with a realtor who himself is a real estate investor. He's helping me to narrow down a potential multi-family property that I will be house hacking, (the deadline I have given myself to be in it is May). I'm a 100% disabled veteran and will be leveraging this status and the VA loan to obtain this property with no money down. This part is a foregone conclusion for me, but what I am still working out is next steps. I want to purchase my second property within 4-6 months of moving into my multifamily house hack, but looking for a guidance on the strategy to do so. My ultimate goal is not using my savings during this process, because I want to train myself from the onset to think creatively and not deplete my reserves instead of finding a better deal or more productive relationship. I'm sure I'm no different in some respects than many other newbies, I just want some ideas on the process of creative financing or maybe how to partner with someone else. I don't have a lot of experience, but I do have the ability to exchange my time, so that could be a form a currency that benefits them.

Any and all feedback is greatly appreciated.

Good morning all.

 I have a question that I'm sure I'm not the first to ask, even if I'm not sure how to ask it. I'm new to real estate investing, but have thrown myself into learning as much as I can by joining a Veteran based investment community, have been working with my realtor and looking daily for potential multi family properties in the Dallas area for house hacking, which I've set myself an deadline to be completed by May. I'm attending local meetups too when my work schedule permits, but I want to do even more. 
I teach Mon, Weds, and Fri mornings at 6:30 until about 8am at a Jiu Jitsu academy in The Colony, which I'm also an equity partner in. Given my schedule, I'm wanting to know what are some positions I could find in the Dallas area that I can transition into working at to accelerate learning all things real estate investing, but also have semi flexibly to still teach my morning classes and grow my gym? By trade I have been in occupational therapy for 10 years, but am willing to take a pay cut to really focus on what will make me the most successful investor I can be.
Very long winded, but again not exactly sure how to ask this question. Im not handy with tools, so I was thinking maybe assistant property manager or something logistical perhaps? Anyone in my area that may be able to shed some light I would greatly appreciate it. Thank you.

@Ryan Kelly this makes sense. I actually plan to put money down, but don't have a frame of reference yet of what a specific % looks like. I don't yet have an understanding of my market yet to know if I'm pursuing a 2 unit vs a 4 unit. I would prefer 4, but I have to make the numbers make sense for me and my current financial position.

I attended a webinar last night from a veteran who's been in real estate for years and understands use of the VA loan. So my understanding is it's still one of my best options for a loan.

I'm in the information gathering stage so any and all insight is greatly appreciated. Thank you sir! 

Good morning All,

I've been real estate curious to the point of obsession for about a month now, but in that time I've started to develop my tentative plans. I thought it prudent to run some questions by the plethora of savvy investors in this community.

I plan to begin now the process of finding a multi family property to house hack. I will most certainly use the VA loan for this first purchase as well as my benefits from my 100% VA disability rating.

1) Should I focus on duplex since they're most likely less expensive in my area in category A or B properties, or aim for more units?

2) Is there an income gap between going after 2 units as opposed to 4?

3) Is there an easy way to understand what price range I should stick to in my area, and should I focus on the best market or focus on the best price for properties?

4) Once I've lived in the property for the obligatory year, is that typically long enough to refinance and use HELOC towards my next property?

I have a truck full of questions, but these 3 specifically keep my brain awake at night right now. Thank you for your guidance.

@Preston Dean thank you sir! I haven't been this excited about something since starting Jiu Jitsu classes 10 years ago. I'm grateful for the advice and I am reading 2 of Brandon Turner books currently. The tip about ensuring the agents and loan officers are active on here are both prudent and wise. 

@Shayne Hickey I'm absolutely interested in the days and times of the meetup. I want to learn as much as I'm able to retain as quickly as possible.