I just relocated to Dallas, Texas for my husband's new job. I was a buyer's agent in South Carolina, previously. I have a decent amount of experience in the buying and selling aspects of real estate but my long term goal was to move over to the investing side full time. I am now in a position where I can focus on investing full time. I'm already enrolled in classes to obtain my Texas RE license and have read many of the Bigger Pockets books. Our plan this year is to buy a small multifamily to house hack, using our VA loan. I also would like to start doing fix and flips. My question is, other than the material through Bigger Pockets, what did you find most useful when you first started out? It could be anything from investor clubs, courses, mentors, etc. Any insight would be much appreciated.
Real Estate Agent · Temple, TX · Member since 2022 · 1k+ posts · 700 votes
4y
You are definitely on the right track. I am from the Mansfield area, but live and invest here in Temple right now. The most useful material that I have found is just analyzing deals every day to where you know the exact ARV of every deal without having to look at it. Brandon Turners multi-family millionaire has some good advice in there for all investors. The first thing that I would do if I were in your shoes (which I kind of am as a new investor) is to find an experienced investor and add value to them. You will likely be cold calling / lead generating anyways, if you get something that they may like send it their way. In return ask them questions about analyzing the deal such as ARV, rehab costs, selling costs, + how they determine what they can offer. Then start implementing their strategies in your business.
Buy the house hack, find a mentor, learn as much as possible, flip to build capital for buy and holds to build wealth.
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
4y
Welcome to DFW! I would say to find a good meetup and start networking. You will need good leads, vendors, lenders, etc. We get a lot of people who have tons of experience willing to share.
Thank you for the advice, everyone! Sounds like I am already on the right track. I have already joined the DFW meetup and am looking forward to meeting everyone there and hopefully hearing their advice as well.
Thank you for the advice, everyone! Sounds like I am already on the right track. I have already joined the DFW meetup and am looking forward to meeting everyone there and hopefully hearing their advice as well.