All Forum Posts by: Roger Dupler

 Thank you James for your welcome.  I'll see if I can find that referenced Podcast

@ Ryan Blake   Hi Ryan!  Thanks for your response.  I really appreciate that.  Do you have a specific meetup in our area that you could recommend?

Also, in addition to the book I previously mentioned, I also bought the following:

Your First Year in Real Estate, 2nd Ed.: Making the Transition from Total Novice to Successful Professional, by Dirk Zeller
Before You Are Licensed: 13 Actions To Jump Start Your Future Real Estate Career, By Katherine Scarim

If you can think of anything else, please let me know.

@Jim Cummings   I forgot to ask.  The job you mentioned, i.e., Onsite Builder Sales Representative, was that for someone who sells homes at a builder's model home sales new neighborhood locations?  Say for a new home builder such as DR Horton?

@Jim Cummings    Thank you Jim for the encouraging and helpful input!  Out of curiosity, I watched a two hour step by step video description of the TREC contract on YouTube a few weeks ago by a broker in the DFW area. I haven't seen one of those documents since the purchase of my last home here in 2003. I did briefly look at the TREC licensing requirements a few weeks ago. Now after investigation into the investment side as I described in my original post, I find myself back here where I started!  I'll definitely check out your link. I've also ordered the book "The Millionaire Real Estate Agent" by Gary Keller.  Do you have any suggestions of other resources to get a better idea of where I'm heading?

Finally, I've heard that only a small percentage of new realtors actually succeed.  But is it reasonable to expect that a person who is committed to the time and effort that this business requires will succeed?  As a broker, what has been your experience with new agent success rates that have come to work in your office?  For those who were successful, can you point to the main reason for their success?  Conversely, the main reasons for those who failed?

@Lucia Rushton  Thank you Lucia.  You're saying you saw my New Member introduction post as well?  Since my initial post here, I did speak to a "friend of a friend" who has a Real Estate Company in Frisco.  He gave me a little direction and suggested a list of books to read and a video link.  He didn't discourage me in any way and said he would help out however he could.  Perhaps I need to find a forum outside of BP to get the real scoop on what I may be getting myself into.  I've read that only a small percentage of new real estate agents actually succeed.  I mentioned that to my contact and he did not feel like that should be a deterrent.  He moved from a previous career back in 2005 to residential real estate and has been a success. I am sure that a new real estate agent has the same chance of succeeding as a new real estate investor?  I don't feel like I would be one that fails thru lack of effort.  For me, having no current income, it may be more a result of a lack of time to get things going.  I'm trying to get past your description of starting out as a real estate agent as "daunting".  I'll focus on your earlier suggestions and take baby steps!

Hello Folks.

I just joined BP last week. I posted my initial introduction in the "Starting Out In Real Estate" forum and got one reply with a few good suggestions. I just finished reading the BP book "How to Invest in Real Estate" where it was encouraged to post my introduction here instead... so here goes.

The company I worked for became a victim of the COVID-19 economy on May 31. I am 62 years old and blessed to have never had a single day of unemployment until now. I spent half of my career as a Mechanical Engineer and the other half in various IT roles (all for major corporations).

After looking unsuccessfully for another W2 job for the first month, it became apparent to me that I really didn't want to report to someone else as the "boss" again, so I began exploring real estate investing as an option. I figure that if I were to be successful, then there's a fair chance I could realize an income now and possibly a passive income in the future. To that end, I've watched YouTube videos and read a little on forums. I've also attended "Free" webinars for various strategies including Wholesaling, Assigning Lease Options, Tax Foreclosure Overages, Vacation rentals, and Buying Tax Deed/Tax Lien Auctions. So far I have not succumbed to any of the costly "Guru" education/mentoring programs, with the exception of one on Investing in Tax Deed/Tax Liens for which I paid $500.00. I learned some interesting things in that class but the idea of purchasing a property without first being able to inspect it's condition sounded too risky for me. With the small amount I've learned so far, I've come to the realization that I probably have no business investing in Real Estate until I can learn more about it. After all, I don't even understand much of the terminology yet so how could I possibly expect to be believable and/or successful in any of the strategies I've mentioned. Reading the aforementioned BP book alleviated some of those concerns. I own my own home and have no debts. I do have funds available for investing but as I mentioned, no income. It would be nice to not risk too much of my savings at this point in life, although I'm not averse to using whatever it takes to get started.

I am considering getting my real estate license which would hopefully bring in some income and perhaps also give me a leg up in investing. It would also allow me to better understand the laws, finance, and banking aspects (and terminology) related to the industry.

I would like to get to know others in my area who are more knowledgeable in investing and who might help point me in the right direction. One of my first questions would be, for example, is a getting a Real Estate license a good idea in the current market given the uncertainties we are all currently experiencing?

I'd appreciate any advice and/or encouragement you might be able to provide to get me headed in the right direction ... or at least some direction period.

Thanks in advance!

Regards,

Roger Dupler

PS. By the way, I learned about BiggerPockets by Google searching one of the "Guru" offerings that I ran across. I'm sure glad I did!

Hi Lucia.

Thank you for your input. I'm in the DFW mid-cities area. I see that you are a realtor.  Do you think obtaining a realtor license would be beneficial?  And I think perhaps as you mentioned, I have indeed already spent too much time at the computer. The amount of information for options in somewhat intimidating and it's hard to figure out which direction to go.

Regards,

Roger

Hello Folks.

I just joined BP yesterday. The company I worked for became a victim of the COVID-19 economy on May 31. I am 62 years old and blessed to have never had a single day of unemployment until June 1. I spent half of my career as a Mechanical Engineer and the other half in various IT roles (all for major corporations). I live in Texas.

After looking unsuccessfully for another W2 job for the first month, it became apparent to me that I really didn't want to report to someone else as the "boss" again, so I started exploring REI as an option. If I were to be successful, then there's a fair chance that I could realize an income now and possibly a passive income in the future. To that end, I've watched YouTube videos and read a little on forums. I've attended "Free" webinars for various strategies including Wholesaling, Assigning Lease Options, Tax Foreclosure Overages, vacation rentals, and Buying Tax Deed/Tax Lien Auctions. So far I have not succumbed to any of the costly "Guru" education/mentoring programs, with the exception of attending the class on Investing in Tax Deed/Tax Liens for which I paid $499.00. I feel like I learned some good things in that class but the idea of purchasing a home without first being able to inspect it's condition sounded too risky. I have also quickly come to the realization that probably had no business investing in Real Estate until I could learn more about it. I don't even understand all the terminology yet so how could I ever expect to be believable and/or successful in any of the strategies I've mentioned. I do have funds available, however not knowing which path yet to follow, I don't know how much I'll need to get started. In addition, I'd rather not risk too much of my savings at this point in life.

Should I spend the time and $$  to get a real estate license first?  Perhaps that education would make me better able to understand at least the laws, finance, and banking aspects (and terminology) related to the industry?  Also, with the new federal rules against evicting tenants, perhaps rentals isn't the path to follow?

If you were able to picture yourself (knowing what ya'll do now) in my position, where would you start?  I'd appreciate any advice and/or encouragement you might be able to provide to get me headed in the right direction ... or at least some direction period.

Thanks very much in advance!

Regards, Roger

PS.  I just purchased the BP book "How to Invest in Real Estate" and am attending the BP seminar tonight on How to succeed in Real Estate Sales.