All Forum Posts by: Derek Brunson

It sounds to me like you may be working with agents who don't really understand investing. Sounds like their focus is on retail buyers. If that is the case, you might want to find some new agents to work with. In David Green's book, The BRRRR Rental Property Investment Strategy Made Simple, he says it is great to work with a bunch of agents and he details how he finds them in a new market. He says he calls local real estate offices, asks for team leaders and asks those leaders for the names of the agents who will help him accomplish his goals. Then he calls those agents and decides whether he wants to work with them. That seems like it might help you find some agents that will be a better fit for your goals.

@Brad Gibson, 

You are right, with financing and property management figured in, a "good deal" is going to bring in around $100 a month if you are lucky.  The only way to get anything better than that is to find off market deals.  I think that fix and flip or fix and hold is about the only way to go.  That's where my focus has turned.  I don't think that you "suck at finding the 'right' deals" you may just be searching the wrong sources.  I guess it is time for both of us to perfect some yellow letters or something.  

Hope that helps,

Derek

Happy birthday BiggerPockets and thanks @Joshua Dorkin for creating such a great source of education and resource!

You are right the duplexes, etc. have better numbers and that one you were looking at is no exception. I know because I looked at it too. It is just that I can (and did) easily drive by it and I can't be silent and let someone get blindsided just because they can't drive by it as easily. Good luck finding that next one and let me know if I can be of any help. I would be glad to be your boots on the ground around here for preliminary screening or whatever. 

I agree with @Jordan Sutherland, that property could, possibly, be a great deal if you were able to deal with it and the surrounding properties.  My best advice, if you are serious about this property, is to make the 2-hour drive to come look at it before you commit to something that a beginner may not be equipped to handle.  I'm a beginner also, so take my word with a grain of salt; I just don't want you to get into something that could be very risky.  Good luck with this or the next!

Hi @Becky Buchanan, Thanks for the welcome!

@David J., Thanks for the information, I'll get in touch with Travis very soon!

@Mark Nolan, thank you, also, for the welcome

@Ricardo Rosales, thanks for the welcome and the wisdom.  I have been looking at all of the options (largely via the BP blogs, forums, and podcasts) and I am working on narrowing my focus to a single strategy to really learn and develop but I find that there are many fascinating methods of investing and I think I will try many of them after a while.

@Tanner Noble, thank you for the welcome and I'll be sending you a PM in a few minutes!

That's great advice, Bret, I hope to meet many others in this market (or any other) and to get to work with you and them from time to time!  

Thanks for welcoming me,

Derek

Thanks, AJ!  I'm looking forward to talking to you and can't wait to pick your brain about the local market and the strategies that you have seen work!

Grace, thank you for the welcome!  I have listened to a couple of the podcasts and have really enjoyed them.  I will definitely be listening to more of them as well!

Thanks Joseph, I'm looking forward to meeting people from this area!  I've been toying with some spreadsheets and other tools to help me look at "the numbers".  Do you have anything you prefer or recommend to help make sense of it all?

Hello, my name is Derek Brunson and I am looking for the right strategy to start my first deal as a real estate investor! I have lived in and around Lubbock, Texas all of my life (except 6 weird months in Austin :) ) and I will probably live the rest of my life here. My wife and I are both nurses at a local hospital and we have three beautiful daughters, the oldest of which will be starting Kindergarten next week. Our investing goals include making our first deal, making more and more deals until we have a better understanding of what we are doing and then continuing to make deals until we have a net annual income of $100,000 or more.

I have done a lot of reading and investigating but I will eagerly welcome any advice that I can get. That is the reason that I have joined BiggerPockets and the reason that I am introducing myself now. I am especially interested in thoughts and opinions about the Lubbock market and what strategies others are using around here.

Thanks for reading and I hope to get to know many of you in the near future!

Derek Brunson