All Forum Posts by: Austin Johnson

Andy Frisella's Real AF (listen to the Q&AF episodes, only listen to CTI if you want a laugh or to get upset at the world)
Ed Mylett's show.
I started Gary V's audio experience yesterday.
outside that I listen to CBRE's Weekly Take on commercial real estate. 

@Scott Mac  so did you end up trying to buy the place?

I want a course on building personal brand... not a course teaching me how to invest in SFH. I'm well aware of that.

Does any one have any experience with Ryan Serhant's courses? I see his Building your Personal Brand course is 50% off right now and I was eyeing it. anyone has any comments or concerns?

the operating agreements we can share on here  are as useless. you do NOT want to use a run of the mill operating agreement. contact an attorney and get one made for you. 
here are the attorneys I use for syndication. give them a call, they can at very least guide you to make a good decision moving forward and give your options. https://www.bootstraplegal.com...

you're gonna call me crazy. go here https://www.biggerpockets.com/...

click the top lender, jump on a phone call with them and ask them what you need for a loan. then ask them to email the information to you. 
a lender is the first step. once you have all the information together to please a lender, the rest is relatively easy. 

Welcome to the wonderful world of Real Estate investing. what type of investing interests you?

1.a section mentioned risks about lien. I'm not familiar with the term, but I do understand it involves debt of some sort. What exactly does this term mean and where does debt come into play?

if you take a mortgage out on a property (the remaining 70-75% of the purchase price once you pay 25-30% down) the mortgage company has a lien on your property. if you hire a roofer to put a new roof on and you dont pay them. they can play a lien on your property. If you fail to pay your taxes for 5-6 years in the state of Missouri. the state COULD place a tax lien. what does it mean? it means upon selling the property, those liens get paid off first BEFORE you. 

2. What exactly is underwriting and what does this process entail? Where does this process take place in when making a deal happen (i.e. Before closing, after closing, when you first make an offer, etc.)?

Underwriting is the basic math to see if a deal works. So, I'm in multifamily real estate. our underwriting is a wee bit more than single family but I'll keep it to SFH. (if you're interested in MF, let me know!) *edit. underwriting should happen before making an offer in SFH. it's not a lengthy process so always see if a deal is even worth offering on before offering!*
you can use the bigger pockets calculators for SFH underwriting. it's the rental income, expenses, mortgage costs, renovations, etc and the total profit at the end. to quote my friend Brian Briscoe "rent comes in, bills get paid, the rest is profit". under writing is figuring out the rents and expenses to track the profits.

3. How do you estimate rehab costs when first looking through a home? Without a proper inspection it almost seems like you have to use the eye test and experience to guess what the costs for a rehab may be?

you're right. you can use general rules of thumb. but for most accurate (esspecially with the 9.1% inflation we're seeing) contact a local flooring company and get a quote. say $4.50/sqft installed? so now we know a 1k sqft house needing all new flooring will run us around $4500. i would suggest doing this for all major things. roof, flooring, drywall, painting,etc etc etc. maybe even find a foundation contractor. 

why wouldn't they?

mailers, website, cold call, lists. there are a ton of ways to catch the chicken. the most successful might be a website though.