All Forum Posts by: Taz Zettergren

Bigger Pockets has lease agreements, renewals and all kinds of docs available. There or a realtor should be able to get you one that's provided to them at no charge. 

I use mysmartmove.com for the credit checks and background checks. Bigger Pockets had a useful application I used for screening my residents

@Mic Salvador welcome to the forums Mic. If you have the time and effort to spend I'd recommend house hacking locally to you. If you have a family and aren't comfortable doing that then BRRR'ing is a great option. I wouldn't recommend doing it out of state if you're just starting out, would definitely start by doing it local. There are so many ins and outs when buying distressed homes it's definitely something you'll want to be able to lay your hands on, at the beginning at least.

Buying turnkeys is a great option as well, there are some larger companies who offer lower interest rate options while operating in more affordable states that are landlord friendly. It all comes down to how much time and effort you're able to spend in this business. Of course you'll make more doing things yourself but it'll take more of that time and effort. Best of luck on the journey, let us know how it goes! 

@Kylie A. It's overwhelming when you try to put all the pieces together at once in your head and then you get paralysis analysis, anxiety etc. It's something we all have faced at some point starting out. I'd recommend sitting down daily and writing down every single action steps that will help you get closer to your goal and mark each one off as you go. The more action you take the more experience you get, in this business you're going to be told no 1000x more than you will be told yes. So never waste a failure, learn from the no's and how to attack similar conversations or situations differently in the future to give you a better chance at success. There are so many opportunities out there in the real estate industry, stay active and engaged. If you have someone you look up to in your local market that's successful do everything you can to sit down with them and pick their brain on creative action steps to take.

Best of luck on this journey! It is a tough one but it's very rewarding once you get into a groove of things

@Juan Carlos Correa I would recommend looking at areas like Memphis, Little Rock or Oklahoma. Not only is the yield strong but values are growing in these areas as well. I would recommend being cautious when looking for cash flow, any market you look at the lower the price the more challenged the area so in return your paper cash flow looks amazing but actually experiencing that month over month is a completely different story. Personally I focus on the more consistent areas that are stable over time, so I do give up some of that paper cash flow but in my experience the actual return is greater because of the consistency it provides. You can find high quality assets around that 150k and above price range but I'd be careful around that 100k mark.

Best of luck on the journey! Let me know if I can be of any assistance

@Ximei Yue welcome to the forums! BRRR'ing is a great strategy to build equity but it's a riskier play and time intensive if you're trying to do it out of state. If you have the time and effort to build out a team of a investor friendly agent, contractors and a property manager then it's a very viable option but in todays time there will be very little to no cash flow. But again it's a great way to build equity and recycle that money.

There are some turnkey providers that are vertically integrated that might be of interest to you if you want to invest passively. Companies that purchase the home with their own money, renovate them, sell to their investors and manage for them on the back end. This is also a great way to build long term wealth especially if you're investing in higher appreciating markets like Texas. Let time do it's thing over 5-10 years, you can take advantage of the tax benefits in the meantime then 1031 exchange into lower cost, higher yielding markets to achieve those goals.

Great thing abotu real estate is if you have the capital you have options and options are always good. Everyone's goals are going to be different it all comes down to what it is you want to do and how much time and effort you want to spend. Best of luck on the journey! Feel free to reach out if I can be of any assistance

@Eamon Martin love to hear the passion for real estate so early on in your journey. I would definitely recommend talking to a lender to see what you would be able to qualify for before trying to find a property. One thing you might need help with is building credit so I would definitely recommend getting a credit card bt using it like a debit card by paying it off at the end of every month. There's also some smaller loan options you could do with your bank to help build credit, go talk with someone there and they'd be happy to help you.

Fix and flips are a great way to build equity in a home but it's a lot to start out with especially as the first real estate play. There are so many ins and outs which makes it a very risky play. Starting out I would recommend getting into wholesaling. Not only is it a great way to build capital but it gets you into the game with very little money out of pocket and gets you very familiar with ARV's and what you need to lock properties in at in order to resale them. This will only help you as you continue to do more deals because you can leverage the feedback you get from cash buyers to find better deals and to know what to look for yourself when you want to keep that first deal.

Getting your real estate license and becoming an agent is a viable options as well but it's not necessary in todays time. Best of luck on the journey! Let us know how it goes

@Saurabh Kukreja If you're able I would make the down payment from out of pocket right now and refinance both later then add a third. It all comes down to your goals and if it makes financial sense as to which direction to go

@Anthony Colachicco If I were in your position I'd get into a multi family and house hack if possible. You should be able to get into it without putting 20% down since you'll be living in the unit. This is the best entry point for a first time real estate investor because you will live right next door to the units while also managing. This enables you to get your feet wet while seeing how the experience goes and once you get that settled in and you're comfortable with your processes then I'd start branching out into other investments whether it be local to you or out of state. 

Best of luck on the journey! Let us know how it goes and which direction you choose

REI Nation has been around the longest and is more diversified in regards to markets (full disclosure I help dispo deals for them), there are a few more that are Memphis or maybe Little Rock specific. MidSouth homebuyers and Memphis Investment Properties

@Joey Samudio I would definitely recommend visiting the market you're wanting to operate in and more importantly meet the team you'll be working with. Either route you choose to go down it all comes down to the team you have and the systems and processes they have in place. If you do go the BRRR route I'd definitely recommend using a general contractor and working with a investor friendly agent.

Give Memphis a look, tons of opportunity to do it yourself and turnkey providers that have been in the game for a long time. Some are even offering interest rates as low as 4.75% for a 30 yr fixed loan. Best of luck on the journey! Give me a ring if I can be of any assistance