Hello Everyone!
I am a brand new investor in Texas and desperately trying to find my way around this business. I am in search of my very first deal. Does anyone have suggestions on how I might make this happen? My strategy is to become a landlord and have positive cashflow. Any help will be most appreciated!
Wholesaler · Amarillo, TX · Member since 2008 · 1k+ posts · 659 votes
19y
Welcome to the forum, believer1. It's always good to see fellow Texans here.
There are several steps to take to get started investing. If you are interested in rental property, have you checked into financing yet? Your starting capital and credit will make a big difference too. A small rental property is normally a very safe and easy way to get acquainted with this whole investing thing without taking too much risk.
You may not be a landlord at this moment, but the
time is quickly coming. Stick around and learn all
you can, and in just a short while the first opportunity
will present itself.
Thanks for the welcome! No, I have not checked into financing yet. I was under the impression that I would actually need a property before checking into financing. Is this not necessarily so? I have joined my local REI club and am looking forward to making some friends and perhaps building my team. Hopefully, I will be able to get that first deal under my belt soon. Can either of you tell me what has been your best source as far as finding deals?
Wholesaler · Amarillo, TX · Member since 2008 · 1k+ posts · 659 votes
19y
Believer, I have not found one single "golden" approach to finding deals. Now I have found a couple dozen "silver" approaches that will each yield a deal or two every year. By doing a variety of marketing methods consistently and persistently I have found great success. It doesn't come in one big bite. It comes in lots of little bites.
Those methods range from mailouts to preforeclosures to newspaper ads.
Thanks Ryan. I am have started looking for my first deal and feel that I will land it soon. I will certainly keep you posted on my progress. Thanks, everyone, for your kindness. This forum is packed with good hearted people. You will be hearing from me soon.
Welcome to biggerpockets, Believer1! It's great to see your excitement on here. You will want to check into your financing options before you get moving so that you know who you're working with, what you have to work with in the way of financing, how to structure the agreement accordingly.
It's great to have you on here. Welcome to the community!
Real Estate Investor · San Antonio, TX · Member since 2010 · 7 posts · 0 votes
15y
Hey man I'm new too! Im gonna be looking up and down this forum for all kinds of advice. You should check out flipthiswholesaler.net. Its an awesome website to get your feet wet.Good luck man!