All Forum Posts by: Sherry Patterson

Thank you @Ryan Blake! Hi Gill, I would love to work with you. You can reach me at 817-822-2640 [email protected]. I look forward to hearing from you! 

DON'T MISS MONDAY @ Dave & Busters Euless 6pm Speed Networking. Then Jason McDougall will teach us how to Self Manage Our Rentals Profitably! SEE YOU THERE! RSVP: IMPACTREIJUNE.EVENTBRITE.COM Have your ticket pulled up and ready when you come in to walk through registration.

FUN, FOOD, FRIENDS & FREE EDUCATION!

Join us for an engaging and informative evening as Aspire Realty Team proudly presents our monthly Real Estate Investment Educational and Networking Event.

This month Mickey Patterson will present "Learn how to scale your real estate investments with syndications made simple for passive investors or sponsors."

Come be a part of DFW area's largest REI group, gathering monthly for over 10 years! Network with a diverse group—from newbies to syndicators, offering a wealth of knowledge. You will enjoy interactive, casual events featuring top speakers and sponsors providing real education for business growth. No need to reinvent the wheel—learn from experienced individuals and benefit from their knowledge! Our commitment-free, fun, and welcoming atmosphere encourages questions. There are no sales pitches but plenty of opportunities for learning and networking. All are welcome, but please RSVP for seating and planning for food. Please Update your RSVP if plans change.

“Alone, we may achieve great things, but together, as a community, we can accomplish the extraordinary.”

Thank you to our sponsors:

Guaranteed Rate

Texas Secure Title

Longhorn Investments

HC Roofing

Syd the CPA

Quest IRA

Malve Capital

Easy Street Capital

First congrats on being so young and knowing what you want to do. I commend you on not only knowing but already reaching out and asking for help and finding resources. So many young people know it all and don't realize they are not the smartest person out there. No need to reinvent the wheel.
I am a college graduate and there is value in having a degree. You need to know your BHAG (big harry audacious goal). Don't think small. Flipping has made lots of people a lot of money, but not the kind of money a multifamily or commercial developer makes. I am not saying to chose that I am just giving an example. But you are so young. You can do anything you want to do. Wholesaling and flipping is a means to bigger things, not the end goal. Unless of course you grow it to a really large national company which is also possible. I don't recommend a RE lic for any of these things. Unless you want to be a real estate agent you do not need a lic. 

If flipping is your end goal I would get an education in construction. I don't necessarily mean a college degree, but could be. Also, the contacts you make in college can serve you really well in the future. It can be a trade school or as an apprentice to a contractor or builder. To be a flipper you don't necessarily have to know construction but it would sure help. Otherwise you are paying others for that knowledge and many times getting over charged or things not done correctly that will cost you more. Education is expensive. Whether it is a conventional education, or getting taken advantage of, or doing it yourself and screwing up and lose a bunch of money. However, from all of these scenarios it is education and learning. You just need to figure out what the best path is for you to take for that education. If you could find a mentor that does wholesaling and flipping and work for them and learn everything you can from them, that is what I would suggest. Most all wholesalers are looking for a young person to go out and do the leg work. Let them spend their money (wholesaling is expensive and don't let anyone tell you otherwise) and train you to get the deals for commission. You can do this while in college or trade school as well. On the flipping side hopefully they will let you shadow them and see how they run the numbers, where the money comes from, inspecting the property, closing procedures, hiring the contractors or instructing their own on what needs to be done, buying the materials, and getting it done and sold. There are a lot of moving parts with both wholesaling and flipping. But find someone local to where you live that is actually doing it, not selling a program to teach you how to do it. You don't need a guru you need hands on experience to trade your labor for their knowledge. 

What ever you decide I know you will be great at it and I hope you will keep us posted. I love to see people's success, especially young people. Happy Investing! 

Hey there! I know this post is a few months old but sorry I just saw it. So I got here as quick as I could! I want to invite you guys to IMPACT LIVE! We meet at Dave & Busters Euless the 4th Monday of every month for over 10 years now. FREE food, friends & education. Speed networking starts at 6pm. Would love to meet you!

PLEASE RSVP @ https://www.eventbrite.com/e/impact-rei-dfw-tickets-827516071847 to show your ticket at the registration booth and be connected on Swapcard.

FUN, FOOD, FRIENDS & FREE EDUCATION!
Join us for an engaging and informative evening as Aspire Realty Team proudly presents our monthly Real Estate Investment Educational and Networking Event.
This month, we are joined by Infinity Investing Strategies!
The Infinite Banking Concept is a strategy utilizing specially designed cash value policies to “Become Your Own Banker”. These policies allow you to warehouse your wealth in a secure account that earns much more than a traditional bank account, receives dividends, is completely uncorrelated to the stock market AND protected from creditors and predators. All the while your cash value is 100% liquid. Through the IBC loaning strategy, you can borrow against yourself so that you can invest cash into anything you want, while you continue to earn interest on your money at the same time! These dual rates of return allow investors to scale their business faster while mitigating risk. Oh yeah, we haven’t even mentioned the fact that you are able to use your money completely tax free while you build your portfolio, and then use your cash value as a self made, tax free pension when you want to kick back and relax in later years! Everything left behind when you’re gone transfers to the next generation completely tax free as well, allowing you to build and maintain generational wealth.
Come be a part of DFW area's largest REI group, gathering monthly for over 10 years! Network with a diverse group—from newbies to syndicators, offering a wealth of knowledge. You will enjoy interactive, casual events featuring top speakers and sponsors providing real education for business growth. No need to reinvent the wheel—learn from experienced individuals and benefit from their knowledge! Our commitment-free, fun, and welcoming atmosphere encourages questions. There are no sales pitches but plenty of opportunites for learning and networking. All are welcome, but please RSVP for seating and planning for food. Please Update your RSVP if plans change.
“Alone, we may achieve great things, but together, as a community, we can accomplish the extraordinary.”
SEE YOU MONDAY AT DAVE & BUSTERS EULESS!
Thank you to our sponsors:
Guaranteed Rate
Texas Secure Title
Longhorn Investments
HC Roofing
Syd the CPA
Quest IRA
Malve Capital
Easy Street Capital

SEE YOU MONDAY AT DAVE & BUSTERS EULESS!

Hi @Alan Hale Yes they are the 4th Monday of every month at Dave & Busters Euless speed networking starting at 6pm. They are on Eventbrite. You can also find the info on my website http://aspirerealtyteam.com/events We would love to have you attend! 

Hi @Vasundhara Ranjani With my experience as an investor, broker and property manager I can tell you it depends on the asset. If it is cash flow you are after then I probably not look at multifamily unless it is a large asset. Anytime you have tenants and toilets you will have expenses that will wipe out the cashflow. As far as the STR that were mentioned, we have lake houses and beach condo's and I can tell you they are not going to cash flow that much. They are seasonal and their price tag is so high, along with HOA fees, they are not going to give you the cash flow you are wanting. You have to buy right. If you over pay in the beginning it is hard to ever recover from that. If interested in STR the best place is around an industrial or hospital area. This does not seem near as glamorous as having a beach house, but it is not seasonal. It needs to be in an area with business travel so it stays booked. I also have tiny homes and these make a lot more money because I only paid around $25k so very easy to make a profit and people think it is so cool to stay or live in a tiny home right now.
What I suggest to look at for higher ROI is MH parks. Again, not glamorous but if purchased right will give a much higher ROI than multifamily. Other assets for higher ROI are self-storage, RV parks, & industrial parks. If you buy a B multifamily in C condition there can definitely be added value and you could get to $12k a month. But I would plan to profit at most $300 per door so you would be looking to purchase 40+ units which these days you would be looking at around $6M. I don't know your budget but I would be more than happy to have a call with you to talk about your goals and provide more ideas on how to get there. Happy Investing!

Hi @Devin Cokley I actually love this! I love that you are young and have set a goal and going after it! I applaud you. You did not say you were ready to go out and do one today. You said you wanted to learn, so not sure why everyone is jumping on you. I am a syndicator and I sure wish I would have learned at your age, I would be retired now! I also wish I would have learned at the beginning of my investing and just skipped all the nickel and dime stuff that does in fact flush $100 down the toilet and more sometimes. Start with building a network, your network is your net worth. You can't be a syndicator unless you are a specialist in an area such as capital raising, asset management, acquisitions or you just have a ton of money to be a key partner. Without experience no one is going to let you in as an asset manager. You can learn how to do underwriting if you are good with numbers and understand how they work when evaluating deals. This is a skill you can learn with guidance. Capital raising, anyone can do, that is where your network comes in. Many GP's on a deal get there just because they can bring money to the table from their network. There are a lot of great groups you can join to learn. I like Jorge Abreu 

https://linktr.ee/jorgemultifamily.

Also Robert Helms & Russ Gray https://realestateguysradio.com/events/how-to-raise-money-fo...

I know a lot of people do Think Multifamily and Jake & Gino's group. Raisefest is coming up in Feb. This would be good to go to and they probably have a group also. https://raisefest.com/grab-your-ticket-v1#row--36794-107. There are also groups that just focus on capital raising like the mastermind I am in that is Hero Capital Raising. I can make an introduction if you are interested in that group. 

I think you are on the right track asking for help and mentorship. No reason to reinvent the wheel, it has been done! Learn from those doing. Education is expensive but well worth it. So I encourage you to look into the different groups and see which best suits you. There are a few I don't recommend as well but will not list here. Happy Investing! 

We would love to have you join our events! I run the largest REI group in the DFW area called IMPACT. The website is down right now as we make a better, improved site. But you can find info on my main website and you can find us on Eventbrite. We have a great group usually around 60 people or more. We have a pretty experienced group all heart centered looking to help each other grow. It is at Dave & Busters Euless the 4th Monday of every month. We start with speed networking at 6pm and then start event at 7pm with dinner and education. The event is free and we have been doing them for over 10 years now. Feel free to reach out and I can send more info. Happy Investing!