All Forum Posts by: Kyle Mccaw

Get Expensify App on your phone ASAP. It is a game changer.

I did some deep research on this same idea last year. My final decision was to keep investing in my market (Dallas Fort Worth) and just spend the money to rent a place in Disney World. It came down to potential income versus expenses. Management is tough...

I read something once that I keep going back to. "Buy basics and lease luxuries."

The answer will come down to what you feel comfortable with. If you are in California and looking for guidance from a firm that can help with both your owner occupant home and out of state investing, you should look into MarshallReddick.com. Tanya Lorimore, one of their agents, is top notch. I can provide direct contact info for them if you need.

1-Sounds like you are heading in the right direction. Find a local property manager in the area. Looks like you will be remotely owning if not now then in the future. They should have some direction on where to purchase but most importantly they may have connections to help you find houses. Either from their network or they may have someone on staff that sources properties. 

2-Go to local investments clubs to just listen to what folks are doing. You can get great deals from wholesalers but be careful. They have a rep fro over valuing and under estimating rehab expenses. A good hard money lender can help choose a good deal.

3-Follow your buddy around. Learn from him.

My list on Audible is ccrraaazzyy long. But to start....

Millionaire Next Door and all others by Thomas J Stanley

Rich Dad, Poor Dad & Rich Dad's Cashflow Quadrant by Robert Kiyosaki

The 4-Hour Workweek:.... by Timothy Ferriss

E-Myth Revisited by Michael E. Gerber

The Pumpkin Plan...And all the other books by Mike Michalowicz

Steet Smarts: An All-Purpose Tool Kit for Entrepreneurs by Norm Brodsky

Lifeonaire by Steve Cook

I personally got alot out of Boss Life: Surviving My Own Small Business by Paul Downs (really for business owners with employees)

Your listed criteria will change based off of your goals. Don't over think it. It is not rocket science. Talk to your lender first to get a good understanding of price range. Work back from that. If you need a mortgage broker reference I can pass long some good contacts.

Heather with McCaw Property Management would love to help.

Investing in real estate does not have to be scary or time consuming. At McCaw Property Management (www.McCawPropertyManagement.com), we are passionate about creating long term wealth and income through real estate investing. Let us do the hard work. 

Client Testimonial Video

We manage throughout North Texas is a focus on Dallas-Forth Worth.

@Marie Holmes Your 3 points are overly simplified. Managing rentals is far more involved than you seem to believe. For example, Section 8 is not a simple better or worse. Section 8 maybe "guaranteed." But keep in mind they dictate the $ you get paid and when. In some cases the section 8 program can run out of funding. Here in Dallas rental increases have been frozen due to a lack of funding. But the market rent here has gone up significantly. If in their inspections they decide you need to correct or repair and items (and they will) the rent stops until you fix it. Even if these are items that the tenant shoud be responsible for. Of course you need to go to the local housing authority classes to become an approved landlord. And if you have a job, plan to take of a full day to meet the inspector. Hopefully he or she will show up. It is not uncommon for them to just not show up and tell you after the fact.

#3 running credit is just the start. You need to varify their income. Collect previous landlord references. Run criminal backgrounds....you may not want to lease to a sex offender or bank robber.

Real Estate Agents

• How do you look for, and who do you trust to be your agent that will help you invest in multiple properties? Biggerpockets is a great place to find agents. It would be a good idea to focus on agents that own rental properties. 
• Should I use the Real estate agent to find most of my properties, or is it best to look around on Trulia/Zillow. If you are not local you need to have someone on your team that understand the area and can be your boots on the ground.
• When it comes to direct mailing, should I use the agent for this? Or should I do this on my own? I'm not sure why an agent would be direct mailing. If he/she is sourcing properties, he may be doing this on his own. If you are not using an agent then direct mailing is an option to source properties.

Property Managers

• Where do most of you look for property managers? Biggerpockets.
• For property managers, is it better to find a company with low rates? Or is there a better way in finding PMs? Not all managers are the same. Property management is not a commodity business. If one firm has a "lower fee" they may not be including the same services. As with anything, you get what you pay for.

How to start

• What is the most efficient way to start? Biggerpockets.