Starting Out in Real Estate

5 Replies

Hello, my name is Callen Stewart. I am from Lubbock, Tx I am 23 years old and currently working on my MBA at Texas Tech University. I am also finishing up my real estate license, as well. 

As for my real estate goals, I am starting with the BURRR method. I am excited to be working on my first project as of this week. My goal is to buy three houses in 2020 (including the current one) and get the refinanced and rented out. Furthermore, I am going to try to double the number of properties each year following. I live in a college town, and I invest in a neighborhood that is middle to upscale living for college kids and professors. I am starting with 170K in capital, and I want to make that capital work as much as I possibly can. The issue I currently face is in my target market; houses are only leased from June to August due to the calendar school year. If anyone has any advice on what types of projects I should work on from August to December (due to my three-month renting period), it would be much appreciated. I am also open to bigger flips and increasing my capital in these months as well. 

Bigger Pockets has been a massive help in my education in real estate over the past year. From all of the books, podcasts, and running numbers on properties. I look forward to communicating with everyone in the future, and thank you in advance for your time and advice. 

You could do the Mitch Steven method.  I just had a podcast with him & with that capital, you could change your BURRR method into a buy & hold the mortgage for renter method, which would target the rental to owner conversion market.  If you want his info just hit me up. 

One of the investors I work with rents to college students almost exclusively and runs the leases from August to July. A lot of the tenants either live here year round, or their parents are helping with rent and they don’t mind paying for those few months they may be back home visiting for the summer. Personally I don’t think you’ll have an issue with that, but I’m not a pro!

Hi Callen, I’m a wholesaler here in Lubbock. I’m a senior Mechanical Engineering major. Based off my experience with short term rentals I would recommend that to be a good strategy from August to December or rent it out to graduating seniors on a month to month basis. I’d love to grab coffee whenever you’re free.

@Callen Stewart

Congrats on taking action! I’m looking forward to starting my first project.

I’m a junior studying computer science at Tech, would love to grab coffee sometime!

I second @Maamun Danmaisoro with respect to renting month to month or short term like three months. A bit less volume of people trying to find those leases but I know quite few that would due to internships or co ops.

Hope to talk more, good luck!!

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