Financial Advisor · Wimberley, TX · Member since 2018 · 12 posts · 6 votes
Hi BP members,
I just became a pro member. I live in Wimberley Texas and am looking to begin flipping houses in the North San Antonio area. I have 7 years experience in mortgage underwriting and have owned a couple rental properties is CA and Texas. So I’m definitely not new to real estate. But I haven’t done any flips.
Does anyone know some good contractors to work with in San Antonio for renovating houses?
I should also have my real estate license in a couple weeks. I’m only planning on using it for access to the MLS and to quickly be able to make offers. So I’m not needing a real estate agent.
Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...
Episode 113 – Jay Papasan - Very practical slow and steady advice
Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k
Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.
Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...
Episode 113 – Jay Papasan - Very practical slow and steady advice
Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k
Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.
I gotta tell you, the real estate license is good for learning the process of real estate dealings, but it will not make you a better investor. Investing is NOT buying retail from MLS. The people who list properties are professionals, like yourself, who know market prices. They may lower properties a little if they need carpet or paint or little fixes, but not the bigger discounts that you need to do a flip.
To get the bigger discounts you have to go directly to the source. Learn all you can about marketing. Target your sellers and market yourself to them. THAT is how you are going to find deals. I dont think you need a re license or a pro membership to find great deals.
Financial Advisor · Wimberley, TX · Member since 2018 · 12 posts · 6 votes
8y
Hi Rick, thanks for the advice. My plan was to make a ton of offers on the MLS on houses in very bad shape, and only offering a price on what makes the numbers work. I’m sure my offers will all be well below the listing prices. I’m assuming I’ll need to put in around 50 offers before getting a deal. I’m also planning multiple other marketing strategies as well. The real estate license is something I’m getting to be able to make all these offers below listing price, it wouldn’t be worth an agents time if they did it for me. Also since I was an underwriter the RE license is a piece of cake for me. I already know 80% of the material, the only thing I need to really study are all the different real estate acts/laws. I realize a RE license isn’t needed, it’s just so easy for me to attain that it was a no brainer.
Real Estate Agent · San Antonio, TX · Member since 2017 · 122 posts · 37 votes
8y
Hi Brian, feel free to shoot me a text or give me a call. I’m an Agent/Investor in San Antonio and I’d love to chat to see how we can help each other out.