All Forum Posts by: Gary Rankin

@Account Closed Are you using FreedomSoft for wholesaling, flips, or buy and holds?

If only listings from MLS are part of the program it doesn't seam as though that would help. Does the database include FSBO, possible absentee, or probate?

@Ethan G. Here in West Texas (San Angelo, Midland/Odessa, and Abilene) we are seeing an impact from the oil prices. Last year rentals were nearly impossible to find and now we are seeing many vacant properties. The great news is that this will only last a short time while big oil strangles out all the small oil companies. It is a great time to buy here and once the oil market has thinned out the pace will pick back up, along with oil prices, and be business as normal.

@Brent Coombs awesome! Thank you for your help.

Side note (nothing to do with Bigger Pockets) how are you two tagging my name as a link so I know how to, more properly, address members when communicating? :)

Thank you @Undrea King for your assistance as well. This makes things much more simple.

Thank you @James Stevens! That makes the most sense to me as well. I wanted to see how others were doing it here in Texas.

We are new to REI and feel one of the best ways to get our feet wet is to wholesale a property. For the first few deals we would like to wholesale a few properties until we feel comfortable enough to do rehabs or basic flips due to financial reasoning. I have two main questions;

1. In the state of Texas can we simply so assignments with an assignment agreement and have one closing? Or, would we have to do a double closing? Keep in mind we are utilizing cash buyers.

2. (More of an assumption) Is it customary that the seller pays the closing costs? Will there still be closing costs to us and the final buyer we have assigned the property to?

3. In the event we have to do double closing, can we do same day double closing in the state of Texas? Purpose for this question is out of pocket money, or loans, for us if purchaser was to deposit funds into escrow account before first closing.

Thank you, in advance, for your comments and thoughts.

Thank you both for your replies. Since we know absolutely nothing about real estate we were wanting to become licensed to help us with contracts, offers, and the paper trail in general of completing a deal. Since we are stepping into a new horizon we want to make sure we protect ourselves in the best possible manner.

I would like to enter this as an investor and not a RE agent. However, my thought was that if I understood both facets it would be better.

My name is Gary. My wife and I recently have found ourselves looking for a life change and getting away from the typical 9-5 grind. I have been in the automotive business for over 20 years. For the past few years we have been interested in investing and the real estate market. Naturally without any background in either, we have simply only "thought" about it. We have decided it is time to take serious action. We have much to learn and are looking forward to diving in. We realize we will take on some bumps and bruises along the way. However, it can't always be roses and grassy fields and we understand this.

My first scenario is becoming a licensed real estate agent in Texas. We have explored many schools, classes, and programs. I do still work a full time job, and will have to do so until we have the ball rolling. We will need to do the courses online as there are not many options where we are located. My question is simple;

1. Is there an online course which has proven a good choice in the state of Texas?

When I research reviews for any course I have researched I am filled with negative reviews. We want to take these steps in an educated and non time wasting manner. Thus, any opinions would be very appreciated.