All Forum Posts by: Sean Petrash

This is my first property with tenants. It's a duplex in a Class C-D neighborhood. Property value $150k give or take. Gotta start somewhere! Each side should rent for $1k/mo. 
Do I just get a general liability/homeowners insurance policy from one of the big companies like geico or progressive? 

Thanks!

Thanks Eric! So I haven't officially started yet as we're out of state, but I'm thinking after I start driving for dollars and building a list to market to, the next biggest hurdle will be a buyer list, but from what I've been told, the right deal will draw the money. So, there's that, but I'm the type that likes to be prepared and would rather have a client list to present deals to and haven't had much time to build it. I'm thinking of joining the local real estate investor group and trying to find them that way. 

Thanks for the advice! Are you in the area?

Hey y'all! Any advice is appreciated!

I'm looking to get into wholesaling as my entry into the market and what better way to start building a real estate portfolio? :D 

After reading a few of Brandon Turner's suggestions it sounds like I need to connect with buyers in the area and really get to know their preferences, buy boxes, contracts etc. 

It sounds like also I should subscribe to dealmachine and start driving for dollars, start a marketing list for direct mail, phone numbers, etc. of about 500 properties to market to at least 6 times. I've had some luck with direct mail in the past so I can understand the basic idea of this. 

What is a bit fuzzy for me is once I find that motivated seller, how/where do I find a wholesaler's contract? I'm assuming at least one of the house flipping firms in the area has the basic template for me to sort of copy. 

So! Does anyone want to connect? Thanks for the advice! You people are awesome! 

Thanks! I'm thinking we may end up doing a medium-term rental like furnished finders instead. It's less competition in this market I think. 

Thanks Tanner! 

Right! So, I didn't even know what a dscr loan was until you brought it up, so thank you for that! It looks like those loans require 20% down, and I've been guided as a sort of philosophy, to use as little down as I can do that I can deploy more capital into other projects. 

And to clarify, I don't want a loan more than $200k because that's all I can afford if everything goes south. It's a way of hedging my bet using as little cash as possible. I could get a 3% FHA loan, pay on it for a year while forcing appreciation, then refi out the appreciation and the PMI.

That was my thought process anyway. Does that make sense? 

thanka again!

Hi all! I'm a travel RN with a few flips under my belt, one commercial property that turned out well, and am looking to purchase a property in New Braunfels, Tx to live in for potentially 6 months out of the year. I thought it might be a good idea to make it an STR while we're on the road as the area does pretty well from I've heard. I haven't looked into the air DNA app to confirm this, but I know it to be true.

I've interviewed a few realtor/investors. I have a mentor in the game that is very successful as a yay or nay resource. I just started applying for lending and have excellent credit with zero debt so it shouldn't be a problem. 

One of the realtors was skeptical that I can get into this market for $200k, and, I agree, it's a bit of a stretch, but with the pay cut I'll be taking going down to Texas, that's about as much of a mortgage as we can afford on one income. Then, hopefully, recoup some of that cost when we're on the road. 

I may have to drive for dollars and scout out my own deal, but the problem with that is all of the stipulations that come with the STR restrictions. New Braunfels doesn't play. I've heard that as long as I'm outside of the city limits I should do ok. Other, lesser returns would be furnished finders, or just a straight 6 month lease with a tenant.

My question is, does this sound like a good plan to start off our real estate investment journey with as little debt as possible? What else should I be thinking about doing, or doing at this point? Thanks ya'll!!! :D