All Forum Posts by: Effram Barrett

I don't think he's being overworked per se, but he may not see the value in submitting so many offers while only closing on 2 or possibly not closing at all. I think you'd have to add an incentive to make it worthwhile for them (maybe $100 a month regardless of closing or not). It's a small number but the incentive is my point.

Your post is the reason I obtained my license as @Aaron K. suggested. I want to represent myself in transactions as well as acquire clients like yourself. Find an agent who understands your goals and investor identity and build on that chemistry.

We're in a similar boat. I just took the test Saturday and passed so my license is currently inactive until i find a brokerage. I'm wanting to transition from my 9-5 to full time RE. I'm curious to see how the process works for you. Good luck on the test and let me know if you have any questions

I don't disagree with you but I think comfort level plays a huge factor in why people choose SFH to start. The hassle is greater with SFH but I think the learning curve is shorter. Track record plays a factor as well. People can build their own track record easier with SFH compared to huge multi families. Lenders aren't willing to let you learn on their dime for the huge projects

Running is faster than walking but you have to walk before you can take off running and maybe most feel like walking is comparable to SFH. Just my 2 cents

Most definitely take the W2 job to start. I'm getting my license after working for 6 years at my W2 job (not saying you have to work 6 years) and I feel a lot more confident as an investor. I also have a network of all my coworkers, past and present, over the years that has grown organically. Also take advantage 401K match by your employer

Main point being give yourself time to grow and mature. The way I thought at 22 is night and day to how I think now 

As a few others have said, that side of town is mainly family based so people have settled in for the most part for the school year. It'd be different if it were an area like Montrose or downtown with young professionals who can move whenever they feel. 

The house looks great for the most part, but I'm noticing a lot of houses, especially ones at higher price points, sitting on the market for the latter part of the year in Houston. There's houses in my neighborhood that have been on the market 115 days and up. I wouldn't worry too much about 30 just yet. Not sure if you can hold off until after winter break, but I'd imagine that's when you would see more traffic. Good luck and great job on the flip

I'm finishing the last of 6 courses to get my license in TX. I'll say, I would honestly recommend learning the material even if you're not interested in getting a license. There are so many gems that you get that I don't think the regular investor don't get.

It's tough to accomplish what you want with low income, but it's not impossible. I wish I had this thinking when I was in college so you're on the right track. Some things I would tell my younger self (or you in this case)

See if you can find a seller who is willing to do seller finance. You already live in a place and have roommates so use their rent as part of the mortgage. See if your parents will put money down as a down payment and split the equity with them. As a college kid, you have to find a way to make value. You don't have to have money for that. Think of what you do have (time maybe) and figure out a way to leverage it for someone who has money. 

Call landlords on Zillow or Craiglist and  network. Honestly not having money can be seen as a blessing because you will have the basics and your process down already for when you do start to make money. Good luck!

Does anyone have success with having a business account at a large bank? My partner and I are looking for a bank to store cash as well as create a business bank account. We are hoping for the bank to possibly fund our projects (flip or refinance) at some point as well. Would a small local bank be the better play?

I think @Michael Le would have some insight if he has time to answer. He does multi family in Texas.