Howdy All! We are Turning Point Properties, a group of 3 investors with totally different backgrounds, personalities and interests. The thing we share in common is our passion for RE investing. My brother, Larry, is a true entrepreneur, a seasoned investor and former broker, my partner Terry is great with construction and maintenance issues, and I'm Becky, the bird dog, though I'd prefer to be an eagle with an eye for some promising properties. We are all learning the Austin and surrounding area markets, and are looking for possible wholesale deals, a few fix & flips and 1-2 rentals to hold.
We all have different reasons for becoming investors but I can only speak for mine. I run an equine assisted therapy facility and it takes money to keep it going. It is my dream and goal to be able to offer free or very low cost outpatient services for eating disorder clients who cannot afford therapy due to insurance coverage exclusions. I'm also gearing up to offer transition services to returning veterans for a better reintegration into civilian and family life from active duty.
Larry says REI is totally a numbers game, so he tells me to put in "hundreds of offers" to find a few that work. We have some offers in now, but I'm finding it takes lots of time to find properties that fit the formula we need. , I'm looking forward to learning as I go, learning from others who have been there and in turn helping others in the future.
Welcome @Becky S. to BP. The Austin group is having another meetup on March 2. Hopefully you can join. @Bryan Hancock will be providing additional details as they become available. I suggest you setup a keyword search for "Austin" so you can see any Austin related discussions (including the details for the meetup). Enjoy!
Welcome to BP Becky, it sounds like you guys have a dynamic partnership going on. It is always a good thing when each partner can provide unique skills, expertise, experience and views to the table, which it sounds like your partnership achieves.
I am not sure about your market but in mine I do not need to put in hundreds of offers, it is more about making the right offers. There are a lot of different views on making offers, but I would much rather put in more time evaluating deals and going after properties I know I have a good shot at then putting in 100s of low-ball offers. Another thing to consider is your reputation...you do not want to be known as the people who make ridiculous offers.
Anyways, good luck and I hope to see you around the forums and blogs!
Hi @Becky S. !
I am an wholesaler & rehab investor in the Austin area. Message me what areas you guys are looking in and I will put you on my list.
Your business sounds amazing.... glad to have you with us here in Bigger Pockets!
Thanks for the heads up, Raquel. I will definitely check it out.
James, your post says it all. I feel the same way, though my partner feels quantity is the name of the game in our area. There are a lot of investors in our area now. It takes time to sort through and pick the deals that make sense and those are snapped up quickly. I have learned to act fast. But yes, rather than making tons of offers, I would rather analyze and focus on those properties that are more promising. Quality over quantity. Thanks for the welcome.
Welcome to BiggerPockets, Becky. I agree buying houses wholesale is a numbers game. You have to see many homes to get to the winning investment, but that does not mean making offers on each one of them. Making hundreds of offers to buy one is a waste of time, your time, you owners' time, the agents' time.
However, it is not a waste of time to market to hundreds and thousands of property owners to get to the deal. Make offers to the qualified ones. Qualify first, ideally your marketing will do most of the qualifying, and then make offers to the truly motivated sellers.
I have a special needs son who did a couple of years worth of hippo therapy at Equest near Dallas. He loved it. It's great to have a Big purpose behind our investing. Glad to have you with us.
Hi Jon, thanks for the clarification on wholesaling and finding the gems through marketing. So far, most of ours have been through MLS listings, but I designed and am ordering marketing materials this weekend. You are right on with finding motivated sellers. Not as easy to do on MLS.
Good to hear your son benefitted from equine assisted therapy, and I'm glad to hear from a member who understands how horses can be a healing force.
Great to hear from you Becky. We'll look forward to meeting you at the next meet-up if you can make it. The last one was great!
Welcome, @Becky S. . There is a big group of Austinites on this list doing many different things.
I look forward to meeting you at one of the meetups.
Lynn Currie, Starling Development and Homes | http://www.lynncurriebuilds.com
Thanks everyone! I'm looking forward to the next Austin meet up and will check out Austin on BiggerPockets to see what comes up.
Update on the meetup:
I called Casa Chapala again today and put in a message for the person I am corresponding with. Hopefully we'll have clarity on whether or not this is a suitable venue Monday of next week.
If we flunk here I'll find something else.
@Becky S. Still looking for properties in Austin?
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