All Forum Posts by: Will Pritchett

In regards to investment property it really depends.  We sometimes put a house under contract the first time we see it and sometimes we look at a lot of deals before buying.  But these are off-market properties.  Not sure if that is what you were asking.  We've tried to screen wholesaler deals more from home so that we don't waste as many trips to properties that don't meet our criteria.  Hope that helps.

@Clay Monroe great point! Taking action is a great way to learn.  If you lose money, write it off as "tuition" and keep moving.  A story like this is more valuable, to some people, than one from someone who has done 100 deals because it's the first one.  The first is, by far, the toughest one. Great job!

@Clay Monroe this is a great write-up and should be inspiring to new investors. I think Tamara makes some good points too. I hope other new investors read this account. Thank you for sharing.

Best of luck,

Will

PM me for my guy's contact info.  He's good.  I'm not sure if I can post it here.  Thanks.

@Adam Woznicki is correct.  We found that very few conventional lenders truly understand investment property loans.  PM me if you'd like the contact info for one we like a lot.  The lender you spoke to may have been mistaken as HELOCs can be difficult to impossible in Texas for non-owner occupied properties but we have done cash-outs many times.  Generally with a six month seasoning requirement.  Hope that helps.  Best of luck!

We have rentals in all quadrants of the city and I like them all for different reasons.  If you can ask a more specific question, perhaps we can offer better feedback.  I'd like to help but it's just a bit too broad of a question.  Thanks.

@Rodger Fore @Joshua Parr has great advice here. I try not to build structures that are too complicated. Some people will turn you off if it seems too complex. Sometimes you might try a cash offer (to use BRRRR strategy or a seller finance option where you pay more but on terms that work for both of you. As Joshua stated, they will likely want a large down payment but every deal is different. Don't assume anything. I know what you mean about slow growth. Private money and the BRRRR strategy were game changers for us.

Best of luck!

@Jeanina Bandy

Congratulations on starting young and having a plan. One area I think may be affordable and still keep you close to Fort Sam might be the areas near eisenhauer rd., Austin highway, Harry Wurzbach. These are some main roads. Some areas around there are sketchy and some are very nice. If I were new to the area, I’d get a medium term rental (1-3 months) and use that time to get familiar with the area and see what you like. Then you aren’t locked into a long lease but you aren’t forced to buy in a compressed time frame. It might help you make a better decision. Best of luck!

@Simon Schermerhorn I buy below the median price. You can find BRRRR properties but it's not as easy as it once was. Recommend starting at a lower price point. Capital will be easy to find if you find a great deal.

Best of luck.

@Dyelan Fonville I think it would help to know what strategy you like?  Flipping? Rentals? Air Bnb?  And then it will be a lot of opinions.  We have rentals all over town and have found great tenants everywhere.  We don't buy super low price points or super high.  Just good blue collar neighborhoods.  Let me know how I can help.  

Best of luck.