All Forum Posts by: Austin Johnson

Does anyone have experience, conversion rates, etc. after using  BP Featured agent leads?
 I've searched and searched and I haven't seen any reviews, results etc. I like to read reviews before purchasing, call me crazy.
 I know it's a fairly new program. I can find numerous Zillow Leads reviews but nothing on this. anyone have anything?

well, let's say it's $300k. a refi at 70% of value would give you $210k in a loan and an estimated mortgage $1,140.10. (according to the BP mortgage calculator based on a $210k loan over 30 years).
you factor in 5% for repairs, 5% for Capex, 5% for vacancies. (shooting from the hip here) 15% total.
so $1500 income. take out 15% is $1,275. take out the mortgage of $1,140.10. you're looking at a POTENTIAL $134.9 / month income.

I don't know your goals or your vision for your future. 1031 exchange is possible. sell the asset, roll it into a larger asset and defer taxes. but as Kevin stated, that large of equity renting it out would be massive liability. 

have you looked into the Find An Agent tab on BP? 

I'm a new agent as well, so I wanted to share a bit of advice I found here on BP when searching for a similar answer.
(I cant recall the precise wording so I'll ad-lib it) when you first start in this business, it's common to look for the best commission splits. who is going to give me the most on my sales? but I was urged to look more into who is going to answer my questions when the buyer is flipping out and you're on a deadline crunch and you don't know the answer.
Who is going to have local answers regarding your market and connection for contractors, etc? who is going to guide, mentor, coach you as a young agent into become a successful agent? I was also told you can always change brokers later. if you join one with poor commission splits now, but you gain a ton of experience, knowledge and guidance then switch to higher commission broker. are you better off than joining a great commission split now and having zero help? The more I read, the more I understand to look at life on a 5,10,15 year timeframe. which one will lead to long term success? 
personally; I interviewed on the phone with EXP and really enjoyed them. I interviewed in person with a local brokerage and joined them. will I ever leave? who knows. EXp is a great concept with LOADS of talented agents. myself, I enjoy looking someone in the eyes and shaking their hand. but that could be the small town boy in me, haha. every person is different and that's why there's so many different options. it's like asking 'what brand of running shoe should I go with?"

maybe I'm crazy here. but why not a book on mindset? it takes constant relentless work to go from 9-5 worker to investor to business owner. I think Set for Life was an amazing book and a solid start to "holy cow this is possible" but it was also death by 1,000 options.
I've found myself listening to business and entrepreneur podcasts and books over real estate. mindset and daily habits play such a vital role in any success and it feels like it's not really addressed.  If mindset isn't something that would sell, I'd agree with others, books on other types of commercial investing would be great. maybe not even ' here's what commercial is. here's what value-add is" but along the lines of "here's how you develop a team and a culture, here's how you run the income and expenses for a strip mall" etc. 

oh boy... 4 partners for a duplex?  holy smokes. it sounds like a syndication deal would make life easier but that's just my biased perspective. 

have you spoke with the seller/realtor? explain your numbers and your desire to find a solution and see what the realtor comes up with. 

Always be honest. "it's either hell yes or its a hell no" if you're questioning if it's ok to not share. it's a hell no. 

that being said, I sorta wanna stay there now. i'm in Mid-Missouri.... might have to look you up now lol

Call me crazy but maybe try marketing your social media skills? I looked up your insta (and followed, lol) you're talented with making RE focused content. I personally have paid $75 twice now [one hour sessions] to learn how to do social media as it's a HUGE  lead gen source for organic leads. I've yet to do anything meaningful with it however because it's a ton of work. could you charge realtors looking to develop social media marketing (oh hey) a small fee for say, editing their videos into nice reels? maybe I'm unmotivated but that's something I'd use lol. 

a fear of mine is shiny object syndrome. I looked at Amazon selling and thought 'wow how cool!' and got distracted for a week or two from real estate investing. got distracted by stock options and did the same thing. I'd error on the side of caution and try to focus on how to become you end goal. I'm in the same boat as you. new realtor who got his license to help me get going in REI.

how does that conversation go with the tenant about finding a new home? do you find something the same price and continue the rental agreement? do a new agreement?