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All Forum Posts by: Regina Davis

Regina Davis has started 2 posts and replied 10 times.

Post: Virtual Wholesaling Business

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4

Hi @Issac Moore - can I also connect with you about your VA setup? I'd like to learn more about how you have that setup.

Post: Willing Mentors in Dallas area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @Bart H.:
Originally posted by @Regina Davis:
Originally posted by @Bart H.:
Originally posted by @Regina Davis:

Hello BP!  I have been lurking on this site for a couple of years and have enjoyed reading the various posts and listening to the podcasts, along with reading books and researching online.  Now that I'm finished with grad school, I'm ready to take action and jump into getting involved with real estate.  I'm interested in starting out with assigning contracts while I'm continuing to learn other exit strategies.  I'd really like to find a mentor who is really knowledgable about the Dallas area and willing to work with a newbie like me.  I know many BP members discourage paying for training when there is so much here for free.  True, there is a wealth of information here, but for someone like me who works a busy full-time job and does not have alot of extra time, it can be overwhelming.  It requires hours and hours of reading various posts on the site to try to distinguish the smart and good advice and recommendations from the bad advice.  It would just be more helpful to me to have a succinct book, training program or mentor that could help put me on a track to begin the business quickly.  I hope this makes sense.

I thought I had finally found an answer- there is a local investor here who has probably one of the most comprehensive training programs I've seen as far as the content, contacts and help provided to students.  I was informed yesterday, however, that it costs $10K for the 6-month program, which I definitely do not have to spend. Are there any other more reasonable mentors (in DFW) or training programs anyone would recommend?  Thanks for any suggestions and I look forward to connecting with more people on the site! :)

 Don't start out spending $10K on a training class.  Your money is MUCH better spent using that 10K as a down payment to your first deal.

I would find some local meetups to network, listen to the podcasts, read the books that are published on this site. In our case we found an investor friendly real estate agent and  she helped us find some properties that have made us a lot of money.

 And then pick a couple of neighborhoods  maybe a 2 mile be 2 mile block, walk/drive them and get to know what the prices are.  Know that chosen neighborhood better than anyone else including the real estate agents.

Then when a deal comes up, you can buy with confidence.

Most guru's act like there is a magic formula that only they know, I just don't think that is the case, and even the ones that do provide value are probably best suited to someone who has done a couple of deals on their own in the first place.

Just my two cents, best of luck to you. 

I don't know your situation, but I always recommend people house hack their fist investment.  buy a 2-4 unit property and live in one of the units.  See if being a landlord is for you, and there is a lot more margin for error on a long term buy and hold.  IF you overpay a little on a buy and hold, the return might be a little lower, but over time you will pay down the mortgage, rents will go up and you will have capital appreciation.  And you should do ok.

Best of luck to you!!!

 Hi Bart,

Thanks for your feedback and well wishes.  I'm actually starting off by assigning contracts.  I felt more comfortable going that route since I do work a full-time job and want to slowly learn about the other exit strategies.  I've read Anson Young's book and I just order Brandon Turner's "No Money Down" books to start reading as well.  I'm starting my yellow letter campaign this week, so excited about that.  Now I'm getting busy trying to build my buyers list to have some investors to sell these properties to! :)  I see that you are in the Dallas area.  Do you mind if add you as a connection here?  Thanks!

 You can definitely add me.

May I suggest something, dont worry at all about the "Buyers list", I wouldnt spend any time on it.  If you find a great deal, there are a ton of buyers that can easily be found.

 Oh really?  That's interesting, since so many people emphasize the need to have a list ready to know what types of properties they are interested in.  I would just not want to get in a position where I'm trying to shop a deal around and can't find a buyer.  Is there a forum here on BP for Investors in Dallas?

Post: Willing Mentors in Dallas area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @Bart H.:
Originally posted by @Regina Davis:

Hello BP!  I have been lurking on this site for a couple of years and have enjoyed reading the various posts and listening to the podcasts, along with reading books and researching online.  Now that I'm finished with grad school, I'm ready to take action and jump into getting involved with real estate.  I'm interested in starting out with assigning contracts while I'm continuing to learn other exit strategies.  I'd really like to find a mentor who is really knowledgable about the Dallas area and willing to work with a newbie like me.  I know many BP members discourage paying for training when there is so much here for free.  True, there is a wealth of information here, but for someone like me who works a busy full-time job and does not have alot of extra time, it can be overwhelming.  It requires hours and hours of reading various posts on the site to try to distinguish the smart and good advice and recommendations from the bad advice.  It would just be more helpful to me to have a succinct book, training program or mentor that could help put me on a track to begin the business quickly.  I hope this makes sense.

I thought I had finally found an answer- there is a local investor here who has probably one of the most comprehensive training programs I've seen as far as the content, contacts and help provided to students.  I was informed yesterday, however, that it costs $10K for the 6-month program, which I definitely do not have to spend. Are there any other more reasonable mentors (in DFW) or training programs anyone would recommend?  Thanks for any suggestions and I look forward to connecting with more people on the site! :)

 Don't start out spending $10K on a training class.  Your money is MUCH better spent using that 10K as a down payment to your first deal.

I would find some local meetups to network, listen to the podcasts, read the books that are published on this site. In our case we found an investor friendly real estate agent and  she helped us find some properties that have made us a lot of money.

 And then pick a couple of neighborhoods  maybe a 2 mile be 2 mile block, walk/drive them and get to know what the prices are.  Know that chosen neighborhood better than anyone else including the real estate agents.

Then when a deal comes up, you can buy with confidence.

Most guru's act like there is a magic formula that only they know, I just don't think that is the case, and even the ones that do provide value are probably best suited to someone who has done a couple of deals on their own in the first place.

Just my two cents, best of luck to you. 

I don't know your situation, but I always recommend people house hack their fist investment.  buy a 2-4 unit property and live in one of the units.  See if being a landlord is for you, and there is a lot more margin for error on a long term buy and hold.  IF you overpay a little on a buy and hold, the return might be a little lower, but over time you will pay down the mortgage, rents will go up and you will have capital appreciation.  And you should do ok.

Best of luck to you!!!

 Hi Bart,

Thanks for your feedback and well wishes.  I'm actually starting off by assigning contracts.  I felt more comfortable going that route since I do work a full-time job and want to slowly learn about the other exit strategies.  I've read Anson Young's book and I just order Brandon Turner's "No Money Down" books to start reading as well.  I'm starting my yellow letter campaign this week, so excited about that.  Now I'm getting busy trying to build my buyers list to have some investors to sell these properties to! :)  I see that you are in the Dallas area.  Do you mind if add you as a connection here?  Thanks!

Post: Willing Mentors in Dallas area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @Ryan Dossey:

So here are my thoughts... 

1) I do not discourage paid training. Why? Having someone assign goals/tasks and handhold you through the process can be priceless. Now... I'm not a fan of selling someone a video training series for 30k however, I tend to look at mentoring as what's the lifetime value of what you're learning? I can't speak for who you're referencing but taking a newbie and getting them through a deal or two... Is going to make you a lot of money long term. 

Now,

That doesn't mean he is the best option or if you can/should plunk down 10k. I understand the "I'm buys" side of things but we also have to look at how bad do you want this? You've been lurking for a few years and haven't dove in yet. Sounds like now is the time. 

Have you read @Anson Young's book? This is where I tell EVERYONE to start before anything else. $30 or so they charge is a bargain for the content. 

 Hi Ryan,

Wanted to follow up with you.  Based on your advice, I did order Anson Young's book and read it.  It was a great book, thanks so much for that recommendation.  It really helped me get a good foundation and also helped me to select my target area to focus on.  I'm starting my yellow letter campaign this week and very excited to see where things go.  Thanks for the encouragement!

Post: Newbie in Dallas, TX area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @Dmitriy Fomichenko:

@Regina Davis

Welcome to the BP family! Good to have you here! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

Wishing you the best!

 Thanks, Dmitriy!

Post: Newbie in Dallas, TX area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @George Blower:

@Regina Davis

Welcome to Bigger Pockets.

 Thanks, George!

Post: Newbie in Dallas, TX area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
Originally posted by @Christina J.:

Welcome, Regina! 

You've already given a lot of thought to your next steps, and you're certainly in good company with limited capital. Are you considering a house hack with an FHA owner/occupied loan on a multi-family (duplex / tri / quad) for your first purchase? I believe you can put down as little as 3.5% and even if you just secure a duplex, you could live rent-free (off the rental from the other side) and could save up faster for your next purchase. I've loved real estate investing and have no regrets exactly...but if I could start all over, I would house hack early and often.

Sounds like you're already familiar with the podcast - If you haven't subscribed yet, I can't recommend it highly enough. I lurked in the forums and listened to the podcast for several years before making the leap to buying my first property. The education I received through the podcast was invaluable in giving me the knowledge and confidence to do the first deal. Eight properties later and no looking back now! And I still download the weekly podcast before lacing up my running shoes...it never fails to deliver a new idea or strategy that builds on my current knowledge base. 

Best of luck to you and keep all of us posted on your journey! 

 Hi Christina,

I did know that you responded to my post.  My apologies! I need to fix my notifications! :)  Thanks so much for the well wishes.  I am actually starting off by doing contract assignments while I figure out where else I'd like to go in real estate. As a matter of fact, I'm starting my first yellow letter campaign this week.  I'm excited to get cranking!  Thanks again!

Post: Newbie in Dallas, TX area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4
@Marlon Fong Thanks, Marlon!

Post: Willing Mentors in Dallas area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4

Hello BP!  I have been lurking on this site for a couple of years and have enjoyed reading the various posts and listening to the podcasts, along with reading books and researching online.  Now that I'm finished with grad school, I'm ready to take action and jump into getting involved with real estate.  I'm interested in starting out with assigning contracts while I'm continuing to learn other exit strategies.  I'd really like to find a mentor who is really knowledgable about the Dallas area and willing to work with a newbie like me.  I know many BP members discourage paying for training when there is so much here for free.  True, there is a wealth of information here, but for someone like me who works a busy full-time job and does not have alot of extra time, it can be overwhelming.  It requires hours and hours of reading various posts on the site to try to distinguish the smart and good advice and recommendations from the bad advice.  It would just be more helpful to me to have a succinct book, training program or mentor that could help put me on a track to begin the business quickly.  I hope this makes sense.

I thought I had finally found an answer- there is a local investor here who has probably one of the most comprehensive training programs I've seen as far as the content, contacts and help provided to students.  I was informed yesterday, however, that it costs $10K for the 6-month program, which I definitely do not have to spend. Are there any other more reasonable mentors (in DFW) or training programs anyone would recommend?  Thanks for any suggestions and I look forward to connecting with more people on the site! :)

Post: Newbie in Dallas, TX area

Regina DavisPosted
  • Dallas, TX
  • Posts 10
  • Votes 4

Hello, everyone!  I'm a newbie in the Dallas area looking to learn and build relationships with others in the business.  I've been interested in real estate for some time now and have been browsing this site for about a year, along with listening to various BP podcasts.  A demanding career and graduate school had me stretched pretty thin over the past couple of years, and made it hard for me to delve in like I'd like.  Now that I've graduated, I want to really dig into real estate investing with hopes of eventually replacing/exceeding my full-time income.  I'm interested primarily in creative real estate methods to start (low/no money down, partnerships, subject-to, etc.), as I do not have much available capital.  I want to eventually learn all of the various strategies so that I can be successful in just about any situation.  I have also developed an interest in multi-family properties as well, but I'm not sure it is wise to start there this soon.

I know that networking is one of the most important things to do.  In the DFW area, there are so many different real estate groups, workshops, events.  Can anyone recommend what the most impactful of these are?  Since I work full-time, I have to be selective of where I spend my time.

Thanks for any insight.  I'll continue searching this site for info and listening to podcasts as well. I look forward to connecting with you all and learning more about RE Investing!  :)