All Forum Posts by: Lance Wakefield

You might try walking into a few different offices like keller williams remax and coldwell and see what they have to offer. Lot of them have programs to help you get your education and license pretty quick. My wife works at keller willaims and would happy to refer you to who to talk to and how to go about everything feel free to message me or her @Krystal Wakefield They usually offer the quickest ways to get your license because they want you to start earning them money asap. 

I wish you luck finding a duplex triplex fourplex in frisco. SFR's in frisco are also selling at a premium but there are deals you just have to be willing to spend the dollars and time to find them. I would educate yourself as much as possible over the next 18 months in real estate investment.

Personally I tell them I manage the property when I have house hacked in the past. I was married so I considered my wife the owner and the two of us would usually discuss things. I use the manager position because tenants tend to take advantage of you if they know you have the final say. Just my humble opinion. 

I think a lot of the info you are looking for is available here on bigger pockets. Have you researched your questions here on bigger pockets already? I have found that a really good approach on this site is to find as much info as you can on your own and ask specific questions like an objection that is brought up by a motivated seller. 

You need to check with your cpa before you do anything with 1031 exchange money. I would say no. 1031 exchange is extremely specific and I really doubt you can do that. No one on bigger pockets knows your specific circumstance so again I would check with your CPA. I would also recommend using a CPA who has done many many 1031 exchanges they are complicated and tedious. 

As far as portfolio investor friendly banks go this is basically the only option you have. This is why there is lots of talk of maxing out as many 30 year loans as one can before going another route like this. If it is a true deal the numbers should work with the 20 year though and you can still cash flow. It is a very normal thing for investors, nothing to worry about or shy away from. 

I am no expert but as far as I know charging someone more for a service animal would be like charing someone more because they're handicapped. I would REALLY not recommend it. Anyone can feel free to correct me if I am wrong. Basically those animals are very protected they can go anywhere a person can go no questions asked. If you even ask someone what the service animal is for as far as I know you're breaking the law. Tread lightly. 

Auctions are much higher risk and in my personal opinion not newbie friendly. I would look for a good wholesaler in your area. I would also work with an agent. I would start by analyzing 20-30 deals so you have something of an idea of what a deal looks like. Investing time into learning how to determine an ARV repair budget and timeline are EXTREMELY important. With out knowing how to do those things for yourself its hard to know if others are being honest with you. If you ever need help analyzing a deal you can post it or ask me directly.

I don't have an answer to this but it is a very interesting idea. I really like your creativity @Philip Klinck. Hope you find something that works out for you. 

I would recommend reading something like @Brandon Turner's book investing in real estate with no and low money down. You won't fit into a conventional loan in your current situation so you will need to get creative. Hope that helps!