All Forum Posts by: Nate Mcauley

 Curious to hear how its been going for you since this post?

Hi Nate, there's a decent BP community here that meets monthly/ regularly. Our next meeting will be at my newest duplex in bryan on thurs. feb. 15. Several house hackers will be there, including myself who know the area. You're welcome to attend! 

@Nate Mcauley welcome to BP!
I am based in Pearland, reach out if I can help in any way. 

Hi @Nate Mcauley!

Gig' em Aggies! College station is a great market for rental properties, I have come across a few deals out there over the past 3 years. I'm curious to know, how are you finding the properties you're looking to purchase (On-market, FSBO, Off-market, etc.)

Renting by the room is a great concept in theory, but nonetheless, you need to understand where you are looking geographically (how close is the property to the university), and second to that, you should consider -- do you need to get a duplex to make the deal cashflow? 

Given interest rates are high right now, many duplex properties do not cash flow, and I am under the impression that you might be able to get away with renting a SFH by the bedroom, for a lower all-in cost.

Summarized:

1. How much capital are you able to put into the deal at acquisition?

2. Are there any restrictions in the neighborhood on the number of non-relative persons can live in the property?

3. How close are you to the university?

4. What is the rental rate?

5. Do you have a reasonable pro forma drafted that you can use to analyze deals?

6. How are you finding deals?

I have a network in College Station who can help in terms of finding the right property. Reach out if you have any questions.

@Nate Mcauley

It's great that you intend to go into real estate investment, and your plan to begin with a rental, progress to house hacking, and then consider mending and flipping is a sound one. Here are some ideas and pointers:

Purchasing a duplex close to your intended school is a wise decision. One way to reduce your living expenses and accumulate equity is to rent out one property while you're a student and both units once you graduate.

Another great option in Pearland is house hacking. One approach to save living expenses is to live in one section of the property and rent out the others. Make sure you've studied the market well in order to comprehend the demand for rentals and potential cash flow.

It's a wise decision that you want to establish a connection with regional investors in the Houston area. Participate in online forums, go to local real estate meetings, and think about contacting local real estate agents. Networking can offer insightful information and beneficial chances.

Collaborate with seasoned real estate experts, including contractors, inspectors, and real estate agents. Their knowledge may be quite helpful in navigating the complexity of real estate transactions and helping you make well-informed decisions.

If you have specific questions or need advice on certain aspects of your investment plan, feel free to ask. Best of luck with your real estate journey!

What do you need to get leads?

Credibility. Without credibility, no prospect will become your lead, especially in this space of scammers and lowballers.

Do you see Nike doing DMM? Cold calling? Bandit signs? Driving for dollars? No.

If Nike were to do it, would you think it is normal? Or would you double-check if it really was Nike doing it and not some scammer? You would check right?

So those methods not only can not target motivated sellers, even if they DID target them, they wouldn't sign up with you.

Why do you think the conversion rate is less than 0.1% doing those strategies?

So what you need to do is absolutely not listen to people's opinions here on forums and resort to YOUR own common sense and data.

The first thing you need to do is make sure you come across as credible an professional.

The second thing is you need to be able to be found when motivated sellers come looking for a solution to their problem.

Now were do you go when you want info? Library? Neighbor? Call mom? No you go to the internet right?

So does everyone else, including motivated sellers.

Have I given you my "opinion" thus far?

No I have given only data.

So when you add all this up, the first thing you need to do is get a website and make it credible.

Polish up your social media accounts, create a professional banner and start creating content that is engaging.

You want people to start interacting with you.

Then provide value wherever you can (like I am doing on Biggerpockets). When you answer questions, become helpful, and show you are the authority, you BECOME the authority.

When it comes to SEO, lead generation, and all things conversions, I consider myself an expert second to none as do many people across this space. I build this rep for myself not because I am good at it, but because I help people understand how it works.

Do the same, and you too shall become the expert in your space.

Now you have a credible website, and you have polished social media accounts.

Look into facebook ads, PPC, tiktok youtube, and SEO

There is where you start and this is the ONLY way to do it reliably with predictable success without having to resort to strategies with less than a 0.1% success rate.

The result?

All leads are free. Didn't lift a finger, didn't pay a cent, all off-market highly motivated seller lead!

This is not some theoretical plan. This is logic makes sense and it works.