All Forum Posts by: William Kelly

Hey BP! I hope all of you are having a fantastic day today like i am! I am moving to a different state in 3 weeks and am wanting to pursue wholesaling. I haven't done a deal yet but have began doing some marketing and have a game plan for when I arrive at my new destination. My question is: I obviously can't go driving for dollars, put up bandit signs or join a REIA networking group just yet without being there physically but what are some things I can do now while I am waiting to get out there to start marketing and generating leads? I have built a website tested one fb campaign that didn't have much success mainly because I was learning how to use it for the first time and have no idea what I am doing except for watching YouTube University - (I did not advertise as thoroughly as I should have with updating all the fb page info also) and have posted on craigslist and received one call from a non motivated seller looking to just get an evaluation of his property's worth. What are some things I can do to start generating leads from out of state to help set make this transition into wholesaling smoother instead of just sitting and waiting for the next 3 weeks?

@Immanuel Sibero I am curious as to where you would find a money market fund that is returning better than a 3% annually?

@Denton Beam Welcome to the BiggerPockets Forums!! We are glad to have you and I want to tell you that you have definitely came to the right place. In regards to your question about this scenario, we simply need more info. You are asking if a 3% ROI is good or not but let me ask you this: If you were purchasing a 200k Duplex and put down 20% which would be 50k of your own cash and you recieved a 3% return on this investment would you still tie up 50k cash in this deal knowing your annual return would be only $1500? On the other hand if you took this same scenario and are purchasing this property using an FHA loan where you are only putting down 3.5% which equates to only 6k cash down with a ROI of 3% earning you $180 annually. Although it is still cash flow the numbers seem pretty tight on this scenario.

It really comes down to your goals and what you want to accomplish in RE. Are you planning on retiring from your job using RE as a tool? Are you looking at doing it as a hobby on the side but still work your day job? Try using the BiggerPockets calculators under the tools tab which is completely free for up to 5 uses I believe. You can post it to the forums and have people analyze the deal to better assist you. If you would feel more comfortable leaving the property address off of it as well so someone doesn't snatch it up from you (not saying anyone would) you could do that as well. Hope this helps!

@Deniz Mcdaniel I am interested in this. Could you send some pictures & address through a private message?

@Ben Naught I am extremely interested in playing this game. What would I have to do?

@Blake Edwards you started this post out great by expressing the fact that "I'm involved in Real Estate" can be rather intimidating. As a beginning investor like myself I find it difficult sometimes to tell people what I am looking to do by investing in Real Estate. I don't want to look like a fool if I do meet someone who is heavily invested and begin getting asked questions I may not know the answer to. Although I have been educating myself since 2016 on different strategies and such I haven't pulled the trigger yet on a deal yet. With myself being the humble person I am, I don't have any credit yet to be able to tell people yes I own a few properties in Real Estate and have done some deals. My goals for 2019 is to purchase a rental that is cash flowing and complete 3 deals whether its a wholesale, brrrr or flip. Great post and thank you for sharing!

@Tyler Hodgson I was able to connect with Kenneth, thanks and I really appreciate the referral. I will be relocating to be closer to family and for more opportunity. My Real Estate goals for 2019 are to acquire one rental property that is cash flowing and complete 3 transactions on deals whether that be wholesaling, brrrr or flipping (depending on which makes the most sense).

@Andrew Postell thank you for your input I definitely found it to be valuable. I understand that the market as of today in this area is HOT and not many deals are found on the MLS, but I want to continue to assess the surrounding areas of properties being listed as well as running the numbers to get a better feel. I have been in contact with a wholesaler out there and will be working with him once I get down there to hopefully find a rental that is cash flowing in the Denton area (or maybe 2). Also great advice on finding some meetups down there, networking is key!

Hey guys I am looking for a real estate agent in the North Dallas area. Preferably one with years of investing experience. I am moving from Illinois to Aubrey Texas and am wanting to get setup on the MLS with a criteria so I can begin getting email alerts. If you or someone you know is in the local area please let me know! Thanks

Brian, 

Thanks for reaching out to me in regards to analyzing this property. I ran the numbers again and found that it is only going to cash flow around $100 a month.

@Ronald Rohde you are absolutely correct in regards to being in a smaller town. I am in the process of closing on a primary residence in Providence Village which (feels like) a bit more active than the actual downtown area of Aubrey. I believe we are on more of the southern part of Aubrey where there is more building and construction that is going on. 

@Troy Ramey I think that is awesome that you are starting up a REI meetup, I was actually thinking through actions steps in regards to starting one down there if I couldn't find a local one. Maybe when I get down there next month I could help you set one up in the local area?

Hey BP, 

I am moving from Illinois to Aubrey, TX which is in Denton County come January. I was wondering if there were any local real estate investors on here that are out there and can help get myself connected with the right people. It will be a fresh new start and I have already been scoping out the Denton/Aubrey area. Does anybody down in the local area know of any good investor meetups or specific events for networking?