All Forum Posts by: Ross Schneider

Darryl,

I would stay with your job until you get a few properties under your belt. If you want to do any sort of financing or hard money to buy a house, you must be employed and have a steady income. If you have REI groups in your area, attend some of those and see what they have to offer. It is all about networking and building relationships. I am fairly new to the game and started working for a real estate investment firm in Texas. I have learned more from working with them and going to these meet ups, than I would have on my own. Check out www.meetups.com and create an account and just go from there. Its all about timing and patience. Just keep your head up and don't get frustrated, you will do just fine.

Usually tenants will not leave because they have not had ample enough time to find a new place. I know in Texas, the lease transferes over to the new owner along with the tenants deposit. The tenants must have 30 days notice so they can start searching for a new residence. If anything, help them find a new residence to rent or like Aaron said, a cash option. You do not want to leave a bad taste in their mouth so they do not trash the property or cause any damage to it before they leave

Learn as much as you can as quickly as you can. Try and shorten your learning curve and you will be just fine! Do a lot of research. The best way to learn is to do. When you are this young it is okay to make mistakes because you can learn form them and it is part of the experience. Don't be afraid to take risks, the older you get, the harder it is to take those risks.

Hello everyone!
My name is Ross Schneider. I am from Dallas, Tx and I work for a real estate investment company in Fort Worth. I joined BP to network and meet investors in the DFW area. I decided to go into real estate because the market in Texas is booming right now. My job has given me the opportunity to branch out and meet new people as well as start a rewarding career. I am always looking for advice and to learn something new everyday. I believe that knowledge is power and the more I know the better I can help other succeed!

It is all about what you are comfortable with. Do you want to take a risk and buy another investment home with hard money? Or do you play it safe and go the free and clear route? Like Nathan said, today's interest rates are so low you will have a less risky approach and will be able to pay the loan off easier. What lender are you thinking about using if you do the hard money approach?

David,
I use bandit signs to market my properties. I have had a lot of success but also some failure. The game is all about consistency. If you can maintain a constant wave of signs, you will do just fine. Try to vary up the areas where you are placing them. Some counties may not like the fact you put signs up around the area and might get angry calls. Just brush them off and keep going if you find they work for you. Just make sure to check the local laws because fines can be hefty. Also, marketing on craigslist, myhousedeals, and other sites where you can post your properties are also very very effective. Good luck

I just started out with a real estate investment group in Texas. Aside from all my research done at work and just experience what goes on in the industry I have learned a lot. I also take time to go to Meetups.com and go to whatever seminars they have in the area. They are also resourceful and have great input on how to get started and how to find deals in the area. Classes are also offered on how to find the right deals and how to put in cash offers. I found networking is the best way to get your name out there and ask any advice experienced investors might have! Good luck and I hope you have success!

It really depends on where you live. Being in Texas, I would find houses in growing areas and buy properties around the $40k with rehabs in the $15k-$20k range. That way I would not be fully involved with my $100k. I would start small so I have some practice. That way, if I break even or lose money, I would still have some in the pot. I would also look into hard money so I could leverage my capital better and have even less skin in the game, although the risk would be a somewhat greater.