First post! New Investor to Austin, Texas and Laredo

First post! New Investor to Austin, Texas and Laredo

Austin Texas 路 Member since 2018 路 10 posts 路 5 votes

Hey BP fam!

I am 22 and looking to get started investing in Austin, Texas and the surrounding areas and open to dealing in San Antonio and Laredo area (Where my Mom just started her own contracting company if anyone invest there!)

Bit of a background, I moved around the Austin area and San Antonio before finishing High school in Laredo, Texas. I recently moved back to Austin 2 years ago and wanted to grind working 2 jobs (full time overnight stocking at a grocery store, then working a part time shift afterwards at discount tire) and a side hustle (mowing lawns when I had free time) and literally working myself sick from lack of sleep. I kept thinking there has to be a better way. I read the book Rich Dad Poor Dad, and my brain just about melted. My whole life was a lie! Literally everything I knew about money changed. I eventually ditched all three for one job with much higher pay and overtime, as a UPS driver. (It didnt take long for me to figure out this wasn't the best idea either.) And eventually found my way here to you guys at BiggerPockets.

I have been studying as much about REI as I've been able to with my free time for the last several months and I'm ready to start taking action. I feel like I have a good understanding of what it takes to be successful in this business but I would like to hear how some of you may have gotten started. ( Especially in the central tx area)

1) What specifically did you do to start generating a solid income of leads? -What worked/failed?

2) Did you pick a niche right away or did you fall into a niche working with what you were given? -What was your ideal niche to start in? -Why did/why couldn't that work for you?

3) How many leads were you analyzing weekly leading up to your first deal? - Is Zillow really a good place to practice analyzing? - Is Direct Mailing over saturated?

4) How did your first deal play out? -How did you fund it? -Strategy used? -Exit Strategy? -Issues?

5) What advice would you give yourself if you were in my position and had to start all over again?

Maybe you don't have time to answer all of these questions but hopefully 2 or 3 that stand out to you?

Im looking forward to hearing what you guys have to say!

Goals, What I'm doing currently: I hear about leads through word of mouth from people I know and I've currently been analyzing/pursuing a few deals a week for the last month. I also pursue any leads I may find driving for dollars while I'm working (I'm usually in Lakeway/Bee Cave area). I've attended a couple meetups here in Austin and am thinking about attending a workshop from the local RE Club (3 days for the 12 ways to purchase a house, wrap-around, sub-to, owner finance etc..for free basically just pay to join the club which is $100.) And of course reading up on the BiggerPockets blogs/forums. I'm also finishing reading BPs The book on long-distance real estate investing, and want to read The book on low and no money down and Finding and funding great deals (hopefully all 3 by the end of the week) and then begin my search for a solid agent, building my team, and start bringing in more leads.

Short term goals (1-3 months): I am interested in getting my first flip started in the next month or so to get that infamous first deal out of the way. (It would most likely need to be a flip/wholesale since I am not "bankable" for a mortgage yet)

Not so short term (5-8 months): Some time towards the end of summer moving into a SMF (Preferably a 4-plex) when my current lease ends and credit score/time with job should be good enough to be bankable and do a BRRRR/Live in flip/House hack.

Long term (3-5 years): BRRRR my way from SFH and SMF into large multi family.

Very long term(5-15 years): Continue growing a scalable business in RE (still havent figured out exactly what direction that will be in) or Grant Cardone 2.0 in syndications (Sky's the limit right?)

And I would greatly appreciate any opportunity to go out and learn how this all works in the real world.

Thanks for your replies in advance!

Brandon,

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Most Popular Reply

Investor 路 College Station, TX 路 Member since 2016 路 150 posts 路 37 votes
7y
Originally posted by @Brandon M.:
@Danny Webber Hey thanks for the reply Danny, I agree tuition is not cheap. What are your thoughts on the local RENC club? Seems like I could be paying more for less but I'm also new so I could be wrong

I'd avoid the local RENC. The whole purpose of the membership and 3 day workshop is to up-sell you to something else you don't need. BiggerPockets is a phenomenal resource. You're doing the right thing by utilizing the site, its resources and the forum to learn more.

I'd recommend looking into what other local organizations there are out there with members of the site or other real estate investors who you can connect with but don't have to shovel out thousands of dollars to learn the ropes. Save that money for your first deal, you're going to need it. Plus you'll learn more from doing that first deal than any kind of crash course you can take. There's no substitute for experience, regardless of if you're shelling out big money to learn the business or if you're making use of podcasts, books, YouTube, etc.

See this reply in the discussion

17 Replies

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  • Marlon FongPro Member
    BiggerPockets Support 路 Bridge City, TX 路 Member since 2016 路 1k+ posts 路 367 votes
    7y

    Welcome to the BP community @Brandon M.. Great to have you here.

    BiggerPockets
  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Marlon Fong Thanks Marlon!
  • Real Estate Broker 路 Austin, TX 路 Member since 2016 路 834 posts 路 449 votes
    7y

    WELCOME. There is a lot to learn and many mistakes to pay for. Tuition is not cheap in this business but doable. 

  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Danny Webber Hey thanks for the reply Danny, I agree tuition is not cheap. What are your thoughts on the local RENC club? Seems like I could be paying more for less but I'm also new so I could be wrong
  • Real Estate Broker 路 Austin, TX 路 Member since 2016 路 834 posts 路 449 votes
    7y

    All the clubs are good +/-. I would not pay any $ for course until you are sure they teach what you want to know. Look for a mentor as well. That is much more important than taking a course in my opinion.

  • Investor 路 College Station, TX 路 Member since 2016 路 150 posts 路 37 votes
    7y
    Originally posted by @Brandon M.:
    @Danny Webber Hey thanks for the reply Danny, I agree tuition is not cheap. What are your thoughts on the local RENC club? Seems like I could be paying more for less but I'm also new so I could be wrong

    I'd avoid the local RENC. The whole purpose of the membership and 3 day workshop is to up-sell you to something else you don't need. BiggerPockets is a phenomenal resource. You're doing the right thing by utilizing the site, its resources and the forum to learn more.

    I'd recommend looking into what other local organizations there are out there with members of the site or other real estate investors who you can connect with but don't have to shovel out thousands of dollars to learn the ropes. Save that money for your first deal, you're going to need it. Plus you'll learn more from doing that first deal than any kind of crash course you can take. There's no substitute for experience, regardless of if you're shelling out big money to learn the business or if you're making use of podcasts, books, YouTube, etc.

  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Danny Webber very true, the reviews i found were definitely trying to upsell something at the end but said the knowledge shared for a beginner is worth it thanks for the answer and i think i will stick to BP and youtube for now
  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Tyler Roicki hey Tyler thanks for the reply, you are right about the upsell, my first time going and they were trying to sell me on this workshop.. which led me to go to a different meetup going on that same night posted on BP. Other than those two, I havent seen any on here or found any meetups through google here in austin besides a womens meet up and private lender meet up. Are there any other sites, communities you would recommend i look into?
  • Ryan KellyBusiness Member
    Real Estate Broker 路 Austin, TX 路 Member since 2018 路 1k+ posts 路 1k+ votes
    7y

    @Brandon M. First of All, welcome to Austin! There is so much to learn, so take it one item at a time. Set a goal and work backwards to determine what you should be doing now to hit milestones along the way. Feel free to reach out anytime you want a deeper discussion about the Austin market.

    Ryan Kelly Group - Keller Williams5110 Reviews
  • Specialist 路 San Antonio, TX 路 Member since 2015 路 909 posts 路 297 votes
    7y

    1) What specifically did you do to start generating a solid income of leads? -What worked/failed?

    - thats loaded, we'd have to have a long discussion there and im sure ill cover these

    2) Did you pick a niche right away or did you fall into a niche working with what you were given? -What was your ideal niche to start in? -Why did/why couldn't that work for you?

    - Finding YOUR niche is important and I say YOUR because you never know what you will become great at until you try a lot of different scenarios out.

    3) How many leads were you analyzing weekly leading up to your first deal? - Is Zillow really a good place to practice analyzing? - Is Direct Mailing over saturated?

    - 1000s per week when i started! USE YOUR NEWBIE invigorated blood to go crazy with it and YES zillow is a great place to start. so is realtor and REDFIN to analyze comps for free, then youll start to learn more sites and places.

    4) How did your first deal play out? -How did you fund it? -Strategy used? -Exit Strategy? -Issues?

    - GET EDUCATED! my first deals were bird dog deals so i can learn and i asked LOTS of questions from both sides while making a little money. Then slowly grow like a big beautiful cashflowing flower.

    5) What advice would you give yourself if you were in my position and had to start all over again?

    - Get a GOOD mentor early... Learn and Educate! but if something comes by smelling really good then jump on it and DO EXACTLY WHAT YOUR MENTOR SAYS WHEN THEY SAY IT.

  • Justin WindhamPro Member
    Banker 路 Nationwide 路 Member since 2015 路 4k+ posts 路 1k+ votes
    7y

    Welcome to Bigger Pockets, @Brandon M.!

    You'll find plenty of friendly, knowledgeable people willing to help respond to your questions. Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

    There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

    If you haven鈥檛 checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/

    The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you鈥檇 like to invest in, or have a desire to find people interested in certain topics, you could start your search here: https://www.biggerpockets.com/search/users

    I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Ryan Kelly Thanks Ryan! I agree there is so much to learn it can get overwhelming if you dont take it step by step. I will definitely be taking you up on your offer as well and shoot you a message!
  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Justin Kane Hey Justin thanks for the answers, 2) Okay that sounds good, I was thinking maybe I should focus on one thing and just go all in. 3) Yea then I definitely need to up my game on analyzing! 4) That sounds like a great trade, bring value to someone with a deal and they return the favor with knowledge 5) sounds good i can see how not listening to a mentor and not jumping on a deal would be bad lol And thanks for the reply again!
  • Austin Texas 路 Member since 2018 路 10 posts 路 5 votes
    7y
    @Justin Windham Yes BiggerPockets is full of good people I'm glad a found this site! Also thanks for the additional resources I will definitely check them out!
  • Rental Property Investor 路 San Antonio, TX 路 Member since 2019 路 15 posts 路 2 votes
    7y

    @Brandon M. Welcome Brandon by the way good name 馃憤.

  • Specialist 路 Salado, TX 路 Member since 2014 路 69 posts 路 50 votes
    7y

    Hi Brandon!!

    1. Learned how to access and use County Appraisal District data.

    2. They changed continually.

    3. Dozens; Yes; I think so.

    4. BRRRR before it was called that.

    5. Spend less on myself and save more cash for equity to use on deals.

    Good luck! 

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