All Forum Posts by: Victor Adewunmi

@Jeff Richardson I believe starting part time is the best way to go. If you could, send me his info. I appreciate the feedback!

Thanks Jason!

Hello BP,

I just passed the Texas Real Estate licensing exam and am actively looking for potential Brokers to work with. As I read Finding and Funding Great Deals, there is so much valuable info and I realize I would like to have a Broker/Agent mentor with similar experience. I am currently working 40hrs and would like to start residential Real Estate Investing/Sales part time. My end goal is to become and active and reputable Real Estate Investor.

Areas of Interest: Dallas/Arlington/Fort Worth

-Wholesale/Agency (I understand there may be conflicts of interest if not handled properly)

-Flip/Rehab

-Buy & Hold

Does anyone have any suggestions?

SideNote: I am saving for my first buy/hold opportunity so maybe I can add value in this way if it makes sense. 

Any feedback is welcome.

Thanks

I just spoke with my parents this morning and found out that they have placed a section 8 tenant with their current property. I will ask if the changes have helped. If you are curious, it is in the I-20 & Mountain Creek area.

Just in case anyone comes across this, I found tons of information to consider in these posts:

https://www.biggerpockets.com/renewsblog/40000-brrrr-real-estate-investment/

https://www.biggerpockets.com/blogs/7704/48421-3-secrets-everyone-needs-to-know-about-using-a-203k-loan---its-easy

Just in case anyone comes across this, I found tons of information to consider in these posts:

https://www.biggerpockets.com/renewsblog/40000-brrrr-real-estate-investment/

https://www.biggerpockets.com/blogs/7704/48421-3-secrets-everyone-needs-to-know-about-using-a-203k-loan---its-easy

@Greg H. Hi Greg I have a question about 203k loan with the plans to refi after the rehab. Is that even possible or are there questions I don't know to ask just yet. Ie - seasoning before refi?

Hi BP,

I am looking into the Keller market for opportunities. The North FW and surrounding areas seem to be garnering more interest. I see alot of land & construction in the area (ie - New construction, apartments, entertainment, restaurants). I did a bit of looking and see that the school district is not bad either. My question is for the current landlords in the area, can you speak on if there has been an increase in business as of late. If not, what piece is missing?

I have my eyes on a 1400+ sq ft property and I want to start practicing analyzing deals. It is priced at 186K and is a 3/2. There is a little value add opportunity, if I can 203k and then refi the cash out later maybe? I would love to hear any feedback.

Thanks in advance.

Great info, thanks guys. I'm sure this all has to do with negotiation. @Greg H. when you ask how does it treat the purchase for personal reasons, what exactly do you mean?

I plan to live in a property and while I am there make improvements to it with tenant so that later when/if I relocate I can offer a new tenant upgrades and maybe raise rent on the way out.

@Sean Grapevine & @Greg H. do you mind going into detail a bit about pros/cons of going with closing costs vs downpayment when forfeiting commissions?

Hi BP,

I have a question as an upcoming real estate agent. If I find a property that I plan to occupy for house hacking, how can I use my commission on the deal?

For example, can I contribute my commission to closing and put down as little cash on hand as possible so that I can use other free cash for potential light touches or vacancy? Also if there is anything I didn't think to ask, feedback is appreciated.