All Forum Posts by: Jordan Sutherland

Hey, Marcos! I'm one of the top buyer's agents in the Lubbock area and would be happy to help. My niche is helping long distance investors find and acquire SFR and multifamily rentals. My information is on here. Feel free to reach out anytime!

@Nolan Savage Thanks! Yes, I'm actively working as a real estate agent now.  I mainly represent investment buyers for buy and hold properties in my area.

     I started my first real career as a firefighter in Big Spring, TX in 2013. I was a 20 year old kid with no formal education, just looking to make ends meet.  In January of  2016, I got hired as a firefighter in my home town of Lubbock, TX. At the time, it was my dream job. In Spring of 2016, I was introduced to the book “Rich Dad Poor Dad” by a friend. It inspired me to pursue financial freedom and after hours and hours of research and studying, I decided to use real estate as my main vehicle to accomplish that. I loved being a firefighter but I wanted more for my family than an average life. In July of 2016, I took what I was told by many to be a huge risk and purchased my first rental property. I cashed out my retirement money from my time in Big Spring to do this.  I literally put blood, sweat and tears into that first property. At the age of 23, I had to evict my very first tenants and even received death threats. There were several nights where I had trouble sleeping.           

       That year I learned a lot of tough lessons but I stuck with it. I had a five year “plan” that would pave the road to financial freedom. I had no idea how I was going to get there, but I set a goal and wrote it down on some scratch paper and looked at it every day. At the time, it seemed like an overwhelming and unattainable goal but I had a vision and I believed in it. I picked up extra shifts with the fire department, did odd jobs around town and even donated plasma to save up the capital I needed to make my next purchase. I picked up a second job as an office assistant and then got my real estate license. Since 2017, I’ve been helping other people all over the country pursue financial freedom as well. My local market is a great buy and hold market and through Bigger Pockets, I was able to share some of my success with others from all over the country. It was a long process and many mistakes were made along the way, but I’m proud to say that by the end of 2021, I absolutely crushed my five year goal. 

      I took a huge leap this year and stepped down from being a firefighter.  It was so hard to walk away from that I was literally been brought to tears. In my opinion, compensation aside, it will always be the best job in the world. Any other firefighter would tell you the same. Being there to help people in their time of desperation is an amazing feeling and doing it with an incredible group of men and women is an experience unlike any other.  Over the years I’ve been on scene of a countless number of incidents. I’ve had my fair share of fires, car wrecks, a broad range of medical calls, traumas, gas leaks, baby deliveries and really anything else you can think of. There are things that I’ve seen and experienced that I will never forget, good and bad. I couldn’t be more thankful for all my fellow first responders that have helped make me the man I am today. I learned so many invaluable lessons throughout my journey from so many people. Ultimately, my decision will give me more freedom to spend more time with family and I'll have more time to devote to real estate. 

     None of this would be possible without me stumbling upon Bigger Pockets in 2016.  This community literally changed my life. For those of you that helped me along the way, I can't thank you enough. And for those of you who are just starting your journey, I hope my story will help inspire you to continue to pursue your dreams. Good luck out there!

Hey @Aaron St. Clair!  I would use Zillow or Rentometer for rough estimates.  There's no replacement for a good agent and/or property manager though.  Most online tools can be off a couple hundred sometimes. Computers can't always accurately judge how attractive floor plans and locations are.  If you ever need some insight for market rents, etc. in Lubbock feel free to reach out to me anytime!

       Hey @Robert Hicks!  I'm an investor and an agent in Lubbock.  I specialize in long distance acquisitions in the Lubbock market. 

Depending on what type of property you're looking for, it may or may not be a little competitive. The Lubbock SFR market is pretty hot right now. Typical owner occupant buyers are having to pay full price on more transactions than usual. I've had multiple clients outbid even offering over asking prices that I thought were on the high end. We've seen a decrease in active listings of about 15%+ from this time a year ago. Most homes under $200,000 are moving pretty quickly, especially the ones South and West of Loop 289. The local economy is strong and we are living a relatively normal life here. With the reduced available inventory and mortgage interest rates being so low, it seems that many people are willing to pay more for homes right now. I see the SFR market moving in the right direction here. Lubbock should keep moving along just like it always does. Property values are fairly low here compared to many other highly populated cities in Texas, so I think a steady rise in values is sustainable. For those of us that own property in Lubbock, I'm hoping we'll see some good appreciation over the next year or two. I'm sure some markets will be doing the opposite over the next couple years. I've heard that the Amarillo market is in a similar situation as Lubbock as well. Feel free to reach out to me anytime if you want to talk more about Lubbock!

@Tchaka Owen is right. I think you're underestimating some of the expenses for the property. Not saying that it's not a good deal for you, but I would budget a little more for repairs/cap ex, management and insurance. Bin Cooper ISD, you could potentially demand more in rent to compensate for that. I'm not aware of any duplexes that are available that fit that criteria. There's one on the market that fits that description that one of my clients have had their eye on, but it only has a one car garage on each side. There's a lot of duplexes in that area and I've seen that the ones with 2 car garages rent quicker and for about $50-$100/month more per side. I'd try to get one with two car garages at that price to increase the cash flow closer to where you want it to be. They're not too hard to come by, although the available supply is currently very limited. If this is an off market deal or even if it's listed on the MLS, with you being an out of state investor, I would highly advise you have somebody on your team that doesn't have a vested interest in this property. I've seen too many out of state investors buy properties from advise of agents who don't really understand real estate investing or from people who have a personal interest in selling a particular property. If you have some boots on the ground in Lubbock, they could probably give you more insight on the property you're considering. I'd be happy to help or there's a few other established investors and agents from Lubbock that I'm sure would be willing to help, if you reach out to us. Good luck!

Hey @Kaci Hunter! I’d be happy to help you find the right property for your kids! You could expect to find an older duplex  in a good established neighborhood,  for around $150,000-$200,000. Duplexes that fit that description are in high demand and go quickly in Lubbock. I would recommend getting connected with an agent, like myself, that is  knowledgeable on small multifamily acquisitions in Lubbock. Getting  preapproved (if you’re using financing) and being ready to make an offer will help you be able to take advantage of any opportunities that might come up. There’s quite a bit of available inventory above and below that price range, depending on what you want and what your budget looks like. There’s several duplexes available around $100,000-$125,000 that are in C class areas. There’s also several new construction duplexes for around $275,000-$325,000 as well. Feel free to contact me if you need any help! (806)773-1929

       Sometimes real estate is about doing the right thing, even if the right thing is not the most lucrative option. I wish more people understood this. I’m a Realtor and an active real estate investor in Lubbock, TX. Lubbock is a wonderful West Texas community and is home to about 300,000 people and Texas Tech University. I help regular people buy and sell their dream homes, but my true passion lies in helping investors from all across the country pursue financial freedom through real estate investing, in my local market. I take pride in putting together good deals for my clients while still doing business ethically at all times. Most people in the real estate industry hold themselves to some level of ethical behavior, but a few people will do anything for a profit. As investors, being 100% ethical can be like walking a tight rope at times, but it can be done.

       Two weeks ago, I got a call from a fellow first responder. (I’m also a career firefighter for the city of Lubbock). He told me that a real estate investor contacted him about his previous home that was currently sitting vacant. This conversation led to the two men meeting and the "investor" eventually making an offer on the home. My friend didn't necessarily want me involved in the transaction, but he did want me to look over the contract that was provided and make sure everything looked okay. I gladly do things of this nature for free for anybody who asks. I met him at his previous home to look over the contract and the house. I quickly realized that the person attempting to buy the home was a real estate wholesaler. This post is NOT a shot at wholesaling! I have acted as a wholesaler on several occasions and I have also gladly purchased properties from wholesalers. I know wholesalers who provide value to buyers, sellers and agents all the time, but it was a little different in this situation.

        As I read through the offer that this "investor" gave to my friend, I noticed that there were many mistakes made and many important things completely missing. My friend was told that if he signed this contract, he was guaranteed to receive $145,000 for his home before the end of March. I've looked over hundreds of contracts in my career and this was by far the absolute poorest attempt at making one I had ever seen. The dollar amounts for the potential sale, on the first page of a standard TREC contract, were not even put in the correct spot and there was literally no mention of an option fee, earnest money deposit, and several other items. My friend was told several things that were just not true. The contract did not in any way, shape, or form represent what was promised to my friend and the "investor" would potentially have no consequences for not delivering on his promises. I understand that it isn’t uncommon for wholesalers to get a property under contract without any option or earnest money at risk. What really upset me is that this wholesaler guaranteed several things to an unsuspecting homeowner and straight up lied to him about multiple things, including the actual value of his home and what would really happen if he signed this contract. Is it not our duty as investors to at least be honest with all parties?

I've had the pleasure of working beside this man, serving the community of Lubbock as a first responder. I know him to be a very good man and a very intelligent man. He has a wife and three children, one of which has special needs. His dedication to serving his family and our surrounding community warms my heart. The fact that someone almost completely took advantage of him was very upsetting to me. If it can happen to him, it can happen to anybody. After explaining my concerns, the homeowner decided not to sign the contract. He also decided that he would let me handle the transaction. At this point, I realized that I was in position to potentially make a quick $20,000 by performing a similar strategy that the wholesaler was trying to do. I could've easily done that, but it would be at the expense of the homeowner. It was certainly not the right thing to do and as a REALTOR, it would go against my code of ethics to do so. He was in a good financial position where he did not need to just accept whatever offer came his way, so I acted in a manner that I thought would most benefit him. We decided to publicly list his house and properly market the property through various channels like the MLS, social media, my personal network of agents and investors, and a few other online platforms. I kept him informed of every single detail and made sure he understood the entire process. I never once made any false promises. I told him what I expected the outcome to be and ensured him that I would do my absolute best to achieve the desired result. He wanted to sell the house quickly while still getting a fair value for his home.

       With the help of other Realtors and investors, I was able to present this man with 11 REAL offers on his home, three days after the casual phone call that he made to me. Together, we picked the offer that made the most sense and got his house sold. It took 10 days to get from a friendly phone call to get to the closing table. He left the closing with over $157,000 in his pocket, after all closing costs and commissions that he was happy to pay. By trusting me with the sale of his home, he gained an extra $12,000 and got it much quicker than he otherwise would have. On top of that, a wonderful family gained the keys to their new home and will soon start remodeling it and turning it into their dream home. I may not have made $20,000 on this one, but I’m willing to bet that I get a lot of business over the next several years from this man’s friends and family.

       The real estate industry is filled with all kinds of people. A small amount of bad apples have created the illusion in many people’s eyes that Realtors and real estate investors are the enemy. This definitely makes it harder on the rest of us. Do you identify as a good apple or a bad one? If you identify as a good one, keep up the good work! If not, I encourage you to think twice the next time you have an opportunity to really take advantage of someone. It could negatively affect someone and their family in ways that you’ll never know.

Hey @Dalton Eschberger! I’m an investor, Realtor, and property manager in Lubbock. Feel free to reach out if you’d like to get together sometime and discuss the Lubbock market! 

@Robert Perez I’m an investor and real estate agent in Lubbock, TX. Quite a few people from your area choose to invest in my market because of the lower prices and stable market. I think it’s a market worth checking out if you’re looking for decent cash flow and potential long term appreciation. Fell free to reach out if you’d  like some detailed info!