All Forum Posts by: Craig Anderson

I believe that the best bang for your buck is to concentrate on the kitchen area, bathrooms and master bathroom.  A lot of times, you can just sand and paint/stain cabinets which help with appeal.  Then put in some nice countertops.  These are generally not too expensive and can go a long way.

Great thanks. I reached out to a few title companies, and some knew what I wanted, and I received the list. Some other places didn't know, but will hopefully get back to me. Thanks again. 

Thank you! 

I would read, "Rich Dad, Poor Dad" then read "How to Invest in Real Estate: The Ultimate Beginner's Guide" by Brandon Turner.  These books help you get focused, learn more about investing, and create a great mindset.

Hi there BP family,

I was wondering if anyone knows of a way to find a list of property owners that have owned their homes for X-amount of years.  I've located my target areas, but I want to narrow my search and connect with homeowners that have owned their property for a long time.  I've reached out to some title companies, but they have not been helpful yet.  If anyone knows of a good research tool to find property owners, then I would greatly appreciate any help. Thanks!

You're off to a great start. There are so many ways to be an investor. Find a niche that you enjoy and are interested in, and make a business plan with those ideals.  As it was said earlier, work backwards from your endgame, to where you are now and best way to get started. For example, if you have a 20 year plan, then know what that it is. Then have a 15 year, 10 year, 5 year, 3 year, year by year, month by month, week by week plans (mini-goals).  Mini goals can be reaching out to local investment groups, finding lenders, taking them out to lunch, etc.  

Good luck!

If you want to have better numbers to refer to in your rehab, you can just go to Home Depot and check out prices for tile, carpet, etc. Also, talk with a few general contractors to get estimates on a bathroom/bedroom addition along with other repairs that you could come across. I created a spreadsheet based on the Flip calculator on BP. They have every section and repair detail for rehabs.  You don't need a number on everything, but get a general idea. I know that in my area I can do an addition for about $3000-$6000 depending on the size of the rooms.  Having a general idea for estimates is good when doing the initial analysis.

Each rehab is different. So, you have a budget, but also you have to know your numbers for a good estimate based on what you have researched on the property.

Like others have said, invest in yourself by reading books on real estate, budgeting, self improvement, and listen to lots of podcasts.  Since there are so many ways to invest in real estate and other ventures, over the next year or 2, try to focus on the things that really get you excited and learn more about those subjects.  

Also, at your age, you've got a good start, so I would recommend getting into the habit of saving 10% of your earn income into an account like a mutual fund or IRA that you can not touch until retirement. This creates a great habit of living off of 90% of your income. Then, expand that to eventually living off of 70% of your income by investing in various means. My recommendation is to read "The Richest Man in Babylon" and "Rich Dad, Poor Dad" as your first books. They help with creating a great mindset for investing. However, I'll warn you now, that reading the "Richest Man..." is a bit cumbersome, but well worth the read. I read it at 15.

Good luck on your journey!

As Joe stated, get your credit in good shape. Also, as a realtor, you need to hustle and go get clients as they won't come to you.  Also, read Brandon Turner's book "Low and No Money Down Investing". It will help you become creative when funding deals.  The best way to get into the game is to House Hack.  Good Luck!