All Forum Posts by: Scott Beck

Welcome @Christina Jones to the BP community!

There is a wealth of knowledge here on BP. Please check out the How-To Guides "How to Flip Houses" and "The Ultimate Beginner's Guide to REI." BP also has some very good books for sale. The books by J. Scott "The Book on Flipping Houses" and "The Book on Estimating Rehab Cost" are very good.

Good luck to you and Lee!

Welcome @Kamlesh Thakkar to the BP community.

I see from your profile that you are interested in apartment complexes, etc. There are several meetup groups in DFW focusing on this market. You might want to check them out. You might also want to attend the next REI Expo. There are also apartment associations that can be a wealth of knowledge.

Good luck!

Hi @Thomas Vollmar

Welcome to the BP community.

Please check out the free how-to guide on "How to Start Wholesaling" on this site.

Also check out local REIAs. I attend the meetings of the North Texas Association of Real Estate Investors (www.ntarei.com). You will b e able to meet a variety of investors and wholesalers at these meeting. They typically meet at hotels in Richardson and are only a short drive from the UTD campus.

Good luck!

P.S. My son graduated from UTD in 2014. Go Comets!

@Ind Kon

You have not given the BP community much to work with related to your property. There have been lots of good ideas from the respondents. One thing I did not see discussed is your price. Please ask your realtor or title company for a market condition report for Allen. You want to see if your asking price is in a range that has high DOM. Yes, even here in DFW there are price ranges that are not performing.

Good luck!

@Bhairavi Patel

Lots of good advice in the thread above.

A few more ideas:

• Since you are a PRO member you can use www.biggerpockets.com/meet  to find people in your area. I bet you will find a few Realtors with an investment background from Chicago that can help you.
• Visit local REIA meetings and network to find an investor friendly Realtor.
• When you meet a Realtor ask if they own, or have owned investment properties. If they currently own rental properties ask questions about their cash-on-cash return, typical rents, etc. Also ask if they have a list of suggested vendors.

Good Luck!

@Mike Cooke

In your experience what was the best frequency for sending the postcards - once a month, once a quarter,...?

Thanks,

Scott Beck

@Graham Rushing

Interesting dilemma. You have two main issues to address: (1) which state you will reside in after your "other half" finishes her PhD; and (2) how do you address the challenges of working part time as a real estate agent.

Do you plan to stay in North Carolina after your "other half" finishes her PhD? Does she already have a job lined up - if so, where? I ask this because each state has its own set of requirements and real estate laws that you will need to know to pass the state portion of the licensure exam. If you have to move to another state will that state's real estate commission accept the classes you are taking? As an example -a  friend of mine who was a real estate agent in New York recently moved here to Texas. Texas accepted his national portion of the exam, but requires him to learn about Texas laws and contracts. Once he has that education he will need to pass the Texas portion of the licensing exam.

Working part time as a real estate agent can be costly. Your main job is prospecting and developing lead. Working full time you might spend months before you get your first deal. My best advice is to talk to a variety of brokers. Brokerages all have different business models. Some offer good training packages (yes there is more to learn after you get your license) and others will throw you right in and let you sink or swim. Some will not want to work with you as a part-timer and others will. The important thing is to start talking to brokers now.

Good Luck!

@Eric Mikesell

It sounds like you are at a point where you might benefit from some mentoring. Do you have a local REIA or Real Estate Meet Up group where you can network with other real estate investors? If you do, that's great because you will get to meet seasoned investors that know your local market intimately. They can point you to good contractors and tell you which ones are not investor friendly. Some might be willing to walk you through your first deal.

Does you local community college offer real estate investment courses? In my county here in Texas we are fortunate to have a community college that offers classes for real estate investing. The classes here are taught by Realtors who focus on buying, selling, and renting properties. This is another good way to find local investor knowledgeable real estate agents and other investors.

Good luck!

@David Battle

If you look for a Realtor, look for one with the SFR (Short Sales and Foreclosure Resource) certification or a CDPE (Certified Distressed Property Expert). These folks have the training to help your seller through the short sale process.

@Bhadri Matheswaran

Welcome to BP! There is a lot of useful information on the site. I particularly like to listen to @Brandon Turner  webcasts.

I am just north of you in Murphy and am involved in some of the local REIAs. Is there anything you would like to know about the local market?

Good Luck!