All Forum Posts by: Dustin Crawford

@Victoria Hill I'm in the same boat as you! I'm learning so much information from the Bigger Pockets podcasts, forums, and their books. It is so nice to have such a valuable asset as Bigger Pockets. I am very excited about the real estate journey that I am about to embark upon, and so should you. I know that building a successful portfolio takes time, effort, knowledge, dedication, and perhaps a little luck from time to time, but I think that real estate has too much to offer for me to sit idly by. Good luck on your journey!

Thank you everyone for your responses! I now understand the differences in tax and home appraisals. 

@Pete Harper I am totally using Lisa Priest! She has been great so far. I'm just being very picky and selective on the property that I want. I really want to use the BRRRR strategy, so picking the right property is vital.

@Bill B. and @Tom S. I think both of you guys are correct. Please forgive my noobish post. I wasn't aware that tax appraisal and bank appraisals were separate. I feel really dumb. Thank you guys for your knowledge!

@Tom S. Yes, the homes are selling above the appraised value here in Palestine, Texas. For example, a 2/1 that I have been watching is listed for $75,000. The appraised value is $41,223. This is very common for my city. Homes will fetch well above their appraised value. Is my city just backwards or what? I'd be happy to send screenshots of the information. I am very new to the real estate business, and am trying to do my fair amount of research before pulling the trigger on a property. 

Why are homes in my part of east Texas all priced above appraisal? Even my current home would sell at least $30,000 above its appraisal. Is this normal? It's hard to really do the BRRRR model if everything is already priced above the appraisal. Any help or ideas?

Yay! My first post!

I'm wanting to buy my first rental property in the next six months. I can go and get a mortgage on a rent home, or I can cash out my IRA from a previous job. I am now a public school teacher in Texas. The IRA is worth over $100,000. Is it a smart idea to cash that out so I can pay cash for my first investment home? Or should I leave that alone and go with financing? The homes that we are looking at are in the East Texas area, and all are under 100K. The wife and I are looking at this as both a long term investment, and a beginning to secure more rent houses/flips to achieve pure financial freedom. Thanks in advance!