All Forum Posts by: Cuong Le

@David Galvan - You'll need to take classes that covers the following subjects:

• Principles I
• Principles II
• Law of Agency
• Law of Contracts
• Finance I
• Promulgated Contract Forms

Cost of classes varies but expect something around $900 total for all the classes.

Hi @Howard Scarrott and welcome to BP! Listen to podcast 29 with @Dawn Anastasi who invests while still working a full time job. She also talks about peer to peer lending which may be an option for you to help over come the limited funds. After you listen to it, you can PM her with any questions.

What we've done is use lunch time to do REI (like I am right now) and set aside a few hours in the evenings as well. You just have to stick with it every day and you will do well especially with your remodeling background. Plese keep us updated and we'll see you around!

Hi @Adam Miyata and welcome to BP! Born and raised in Irving so you picked a great place to hang your hat on for now. Glad to see that you're also just focusing on one strategy and not trying to do wholesaling, flipping, etc all at the same time. I think this is one reason new investors fall off because they're pulled in so many direction. Just pick one and stick with it until you're ready to learn all you can on the next.

Look into hard money or private lending to better leverage your money as well. See you around!

Goal # 1: Don't lose money!

Goal # 2: Acquire 5 more single family properties with at least $300 cash flow to have my wife stay home by end of 2014.

Goal # 3: Build up our seed money to get into small MF by beginning of 2015.

We wished we found this site sooner. Thanks to everyone on BP who contributed their time, treasures and talent to help the community grow. We will continue to do what we can to do the same.

Hi @Anil Sinha and welcome to BP! I think you may find podcast 44 helpful since Michael Woodward is successfully flipping houses while working full time! Glad that you've joined us!

Welcome @Ben West to BP! Having a family that is already in RE is great. Hope you can share your experiences as you reach your 2014 goal.

@Dev Horn is also from Arlington and he may be able to help you reach your goal. Keep us updated and glad you joined. Merry Christmas!

Hi @Jay Neil and welcome to BP! Have you added "wholesale" as one of your keywords? Also, you can listen to podcast 33 which Sam Craven talks about his wholesaling business right here in Houston or podcast 21 with Jerry Puckett who is awesome at marketing. See you around!

Hi @Michael David and welcome to BP! Your goal is realistic based upon the time frame. If you say by next week, then no. If you say within a year or two, most definitely.

Create keywords like "Houston" to get alerts about topics you want to read and listen to podcasts like 33 and 48 to get started.

You can definitely get your pre-approval letters from lenders so you can see how much property you can buy. Glad you're on board!

@Graham Mink

We use general rules like the 50% rule & no less than 1% rent to purchase to get started but take other factors like location, school district, job growth, in a flood zone or not, is wind insurance required, etc into consideration.

One criteria that we look to meet is our total out of pocket. Of course it's different for everyone but we like to keep it under $20k if possible. You don't want to meet all of your other metrics and not have enough cash for your next project.

Use what others have said as a base and massage it to where you're comfortable to pull the trigger.

Hi @William Avery and welcome to BP! Many of useful tools for you to ramp up your RE investing to full time for your retirement. A tool that is often not used enough is the search bar on the top right. You can find many forums, articles, etc on questions you may have.

Also heard yesterday that you can write off BP Pro membership for your taxes and do a search of other BP members right around your zip code. Best of luck and see you around.