All Forum Posts by: Paul Shannon

Buy and read "The Hands-off Investor" by Brian Burke.  Priceless book on how to evaluate an operator, but a playbook on how to be one yourself, too, if that interests you. 

Then pick some markets you are interested in investing in.  Syndicators will pick-up your post and you'll find ones that meet your investment objectives.  

BRRRR strategy without high cost of debt? Use it when you need it, don't pay interest when you don't? What's not to like. Hard money is great if that's your only options, but it cost 3 times what you'd pay if you borrow from yourself instead. Its a nice option to have. Find a lender than will give you a line of credit against it and roll.

@Trampas Tanklage @Mason Moreland @Matt Moreland @Wale Lawal

Appreciate the thorough intel, gentlemen.  The oil and gas market driving market fundamentals makes sense.  Seems like a speculative play and one that I'd get smashed trying to play.  

I'd be more interested in Lubbock or Amarillo, as it seems those markets line up better with my long-term approach.     

I'll need to do quite a bit more research to feel comfortable moving forward, but getting the conversation started is the first step.  

Thank you again. 

Believe you'll need a construction loan.  A "land equity loan" will be difficult to find in any market cycle, but in this one, I can imagine it being harder, unless you have experience or a relationship.  You can't get a "home" equity line of credit on a property without a home on it.  

I have not had experience with buying from them.  But I do know an investor who would buy banged-up fixers, slap some paint and carpet up, throw a tenant in, and list them with Roofstock.  Not all operators are bad actors, but be sure to do your due diligence.

So more of a curiosity question.....what's going on in West Texas?  The state is on fire - business friendly, good weather, low taxes (with the exception of property), jobs, growing population, etc.  It seems Dallas and Austin are always top cities for investments, with San Antonio and Houston close behind.  

But what about West Texas?  I'm just curious.  Same state, but is it a completely different market? I'm thinking Lubbock, Amarillo, Odessa, Midland, El Paso.  Is it Oil and that's it for economy.  

Admitting I know nothing about these areas, but just interested if folks think the migration/growth will expand to these areas, and why/why not? 

Congrats!  Looking for a similar asset currently.  About two hours away from Dayton in Indianapolis.  May have to start looking at Dayton and other tertiary midwest markets....

If its your listing, buyer agent feedback is critical.  Small details can course correct and lead to results.  

 I ended up paying about $100 a property, but it was very straightforward with 1-4 unit properties, so my accountant (who has a real estate background) did it in house.  For multifamily he said it would have to be outsourced and be more expensive.  

No, but 38.  Hustle, save, make more money, network. Move if you have to in order to get promoted, geoarbitrage, save more, invest, automate, cut spending to only what adds value to your life, invest the rest.  Put up with a lot of Sh*t with the end in mind.  Understand your risk tolerance and when enough is enough.  That's the the formula.