All Forum Posts by: Chad Althaus

@Undrea King

How much success have you had in 77084 with direct mailing so far? My wife and I are closing this month on a rental there, and we are finding it's a great rental area! 

@Jim Lin  , that's what I've been reading about Dallas. It's just all about finding the right deal, becase buildings are so scarce right now. I appreciate your advice, and I'll be sure to make sure I stay conservative and measure twice!

@Dmitriy Fomichenko , thank you for those resources. I'm definitely going to take advantage of the "meet" feature!

@Phil Rynn , Howdy, it's always great to see other Aggies! That seems like really great advice; analysis paralysis seems fairly common. I appreciate your welcome, and it is great to see someone so close to home!

@Brandon Turner , thanks for the reply! I can tell already this site is going to be a huge resource, and I'm very thankful y'all have put together such a great community. I have already set up my keyword alerts and loaded the book on to my iPad :D 

@Eric Drentlaw , No way! That's crazy. I didn't know there were many others from Richardson commuting to A&M. It's great to meet someone so close!

Howdy, 

I am brand new to real estate and have no experience yet. I'm looking at a bank-owned foreclosed house in Katy, TX. Cash purchase only - financing not available. The property is to be auctioned in a week or so at Auction.com, and the starting bid is $25,000. 

Here is the link to the listing on Trulia: http://www.trulia.com/property/3159427911-2107-Pow...

And a picture...

Anyway... This seems like a really good opportunity, but I don't have much money and I have zero experience. If it says cash only, I'm guessing that means standard flipping wouldn't work and I would need to have that much cash on hand to hand over- am I correct in my thinking or would there still be an opportunity to flip without putting much money down? 

I am not familiar with how these auction sites work, and just want to see what others think about the deal and sites like auction.com. 

I really appreciate any input someone has to give. Thank you so much in advance!!

Howdy! 

My name is Chad Althaus, and I'm a senior Mechanical Engineering major at Texas A&M University. I was born in Dallas and grew up in Richardson. Been in College Station for the past three years, and I'm in Houston for a summer internship. 

I recently read Rich Dad, Poor Dad with my fiance and we got a strong desire to get in to real estate, not really knowing what exactly that would entail. I've been listening to the BiggerPockets podcast this week and decided to get as involved as possible. I really don't know much yet, but I want to learn as much as possible- that's why I'm here on the forums. 

The idea of flipping houses without having to use much (or any) of your own money is extremely interesting to us right now, becasue we don't have much money at this point in our lives. What we do have we're saving for our wedding next year. 

Feel free to share any solid tips for someone like myself, who is just getting started :)

Thanks, and I'm excited to be a part of the BP community!

Howdy @Blake Byrd ! I'm from Dallas, currently going to school at A&M, though. I'm just beginning to do research on flipping houses and the like. When I was young, we actually lived in Preston Hollow, on Pemberton Drive. Are you familiar? Our old house is one of the only houses that has remained one story in that area. 

Anyway, how are the opportunities in Dallas? Is it a good area to invest in right now?