All Forum Posts by: Jeremy Gonzales

I feel like it's a double edge sword. I think new investors are better off investing in properties with higher ARV. There is a bigger spread and that can make the mistakes made more forgivng. On the other hand it's a bigger project for a newbie to manage themselves . I would say partner with someone with experience on a property with a higher ARV and do most of the work with the mentor helping you out as needed.

So I'm looking at a possible rental property in the Round Rock area with single days on market. I've got plenty of comps that says it will rent for 1400/month easy. If I minus PITI of 921.87 so in theory it should cash flow 478.13. Is there anything I'm overlooking and should account for? It seems like this would be a good deal. How would you look at it?

Hi @Terri Martin , I work for full service wholesale brokerage who comes across 10-20 deals a month. I'd be happy to sit down with you and discuss how we can work together to get some deals in your hands. 

Feel free to call, text, or email me anytime. 

[email protected] or 512-815-2457

One of the big things with Zillow is that they pull info from public records and rely heavily on agent feedback. So they try tricky things like asking agents to submit their sales records in order to be entered to win agent of the year, etc. 

Non disclosure states like Texas, which is where I live, doesn't give sold information as public records so there "Zestimates" are way off. There is actually a disclosure page on Zillow, you have to dig around for it, that will tell you how accurate they rate their information on their site for any given state. If you click check Texas, and I'm sure any other non disclosure state, they rate themselves 1 star. That's they confidence they have in their own product.

@Kristina Modares 

I agree 110% with @Guy Gimenez networking the name of the game. I work with a full service brokerage that specializes in wholesale deals in the Austin area. We take new investors from beginning to end from analyzing the property to re-selling the finished flip. If you have any question feel to reach out to me at anytime.

That's awesome to hear. I'm glad it worked out!

@Robert Kinsey 

I unfortunately I don't. He stumbled across them. The website is https://www.swbcmortgage.com

@Robert Kinsey 

Have you tried SWBC? I have a client of mine in Austin who ran in the same problem. He wanted to pull some cash out of a couple of rentals to buy up more properties. They were willing to work with him and he has a ton of properties.

Welcome to this fun world of investing. I've been wholesaling for the past couple of years and in my opinion you did dodged a bullet with passing on the guru program. Bigger Pockets itself is a great place to learn and the wealth of information available from the people who are on it is in valuable. If you have any questions about wholesaling or come across any properties you need to sell shoot me a message. I'm always happy to help.

In my opinion you should use that and leverage OPM for a flip. I would recommend doing a couple of flips to build a good cash reserve before buying rentals. One rental is good but will take some time to save before you are able to buy another one. If you use what you have to get into flips you'll be able to purchase multiple rentals in a much faster time period.