All Forum Posts by: Sam Collins

@Ryan Howell

I am still waiting on my funding. Currently working nights on my regular job so all I am doing is crunching numbers on deals I see trying to get good at it simply because I am waiting on my funds. I would have around a month to get my license before I can even purchase my first deal

@Karl McGarvey

I found a small town brokerage here where I live at. They charge no monthly fee. They have an 80/20% on the deals with a $10,000 year cap. No fees associated with not hitting cap per year. From what I understand talking with most of my realtor friends it’s roughly $1,200 a year to keep everything you need active.

Also I am waiting on my refi of my personal home to be able to purchase the first deal so I would have roughly another month to be able to get it before my funds are available to purchase investments.

Hello BP Family,

I am new to investing in real estate. My market will be the Houston Texas area.

I have been doing countless hours of digging through the forums, listening to podcasts, watching YouTube, and scrolling through Facebook trying to find the answer.

So my question,

Is it worth getting your real estate license here in Texas if you plan on doing the BRRRR method and fix and flip?

Also, do you have to go through the brokerage that hangs your license on every deal that you take as a personal investment? Let’s say it is an off market home you plan to pay cash for.

I have weighed the pros and cons of having it and to me it makes more sense to get a license. The only one I can’t find the answer to is the question above. I like the fact that you can do showings whenever fits your schedule, and the fact that you don’t have to wait on an agent to submit your offer for you. The cost yearly is Relatively low compared to the benefits.

Any help would be appreciated, or just your thoughts on pros and cons of having it.

Thank you,

Sam

@Andrew Postell

I will be purchasing real estate with it no doubt.

Hello BP Family! 
I have a question. I am currently in the process of getting a Cash Out Refi on my primary residence. The appraisal came back today and I am going to be able to pull out $145,000. I had originally planned on pulling only $80,000 out and keeping the Morgage payment the same. But the appraisal came back much higher than expected. If I pull the $145,000 my monthly Morgage will rise from $1,819 to $2,230 a month. I was able to get the interest from the original note at 5.75% down to 3.25% on the new. 
so my question is, is it worth pulling the whole $145,000 and paying the extra $400 a month or only pulling $80,000 and keeping my payments the same. 
I have no issue making the higher monthly payment. 
any help is appreciated 

@Scott Diller

What a cool job man!

@Willie B. Sublet III

Awesome thanks!

@Anthoney Hanks

Thank you!

@Michael Dumler

Not really interested In house hacking. I just bought my personal home 2 years ago. Last month the pool was finished and I have a wife and 3 kids.

If I was a single man and newly starting life out I think that would be the best idea

@Collin H.

Thank you, this is the first time we have been here so wasn’t too sure on how seasonal it is. I just seen condos for around 100k