Newbie interested in Wholesaling or buy & hold

Newbie interested in Wholesaling or buy & hold

TX · Member since 2016 · 48 posts · 13 votes

Hi everyone,

I just want to take a moment to introduce myself. I'm a young professional in the South Austin area and I've been looking at getting into REI over the last 6 months and I'm now at a point where i'm ready to take the leap and get my feet wet! I'd like to get into wholesaling or buy & hold investing (multifamily units preferably), but not at the same time..at least not to start. Those are the two niches of REI that interest me most, so i'm looking to learn more about both of these areas.

I live in South Austin (Buda to be exact) and i'm interested in investing in pretty much any area stretching from south of san antonio through the round rock/georgetown area. If there's anyone who'd be interested in getting together to chat and talk REI with a newbie, let me know. I'd love to find someone to learn from and in return i'd be more than willing to provide sweat equity or split profits from any leads i generate that turn into deals.

Thanks, looking forward to getting plugged into the REI and BP community!

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Broker/Investor · Georgetown, TX · Member since 2011 · 249 posts · 146 votes
9y

I'd recommend you also include some factor of distress. The 4 D's -Divorce, Disaster, Default or Death. These are the ways sellers become "motivated". The limiting factors you use are the screen for the sample. 

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  • Investor · San Antonio, TX · Member since 2013 · 213 posts · 182 votes
    9y

    Hello @Christopher Oliva I would be more than happy to help you out. I have partners in Austin as well so anything I can do to help you just let me know.

  • TX · Member since 2016 · 48 posts · 13 votes
    9y

    Hi @Jonatan Barbera!  I'm actually in San Antonio pretty often, probably about 2 weekends a month at least.  If you're open to it, perhaps we can get together for lunch this weekend or next?

  • Rental Property Investor · Austin, TX · Member since 2017 · 254 posts · 265 votes
    9y

    Hey Christopher,

    I own apartment complexes in Austin and San Antonio, feel free to reach out to me as well.

  • Ruben GalindoPro Member
    Investor · San Antonio, TX · Member since 2016 · 49 posts · 20 votes
    9y

    I'm no expert but I truly enjoy REI. I have one rental home that I purchased in Nov 2016. If I can help please let me know.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Christopher Oliva

    Welcome to Bigger Pockets. A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

  • Real Estate Agent · Austin, TX · Member since 2017 · 31 posts · 15 votes
    9y
    Have you had any luck yet. I just found your post. I'm happy to help newbies.
  • TX · Member since 2016 · 48 posts · 13 votes
    9y

    Hey Everyone, thanks for the kind words!  @Account Closed   So far, my results aren't impressive.  449 mailed out, 4 responses.  out of the 4, 3 asked to be removed from list, and 1 was interested in hearing an offer but he was in no rush to sell.  Before i could make him an offer, he found a renter and no longer wanted to sell.  I'm not discouraged though, i'm going to mail the list again next week.  

  • Real Estate Agent · Austin, TX · Member since 2017 · 31 posts · 15 votes
    9y

    Sounds like the life of a Realtor. Calling and mailing all day, even months and no response. Stay motivated and positive. There's always opportunities hiding. Just when I think all my hard work is a waste. I get a great client. It's hard to convince people your serious. Stay positive! This site is so encouraging. I love it!

  • Broker/Investor · Georgetown, TX · Member since 2011 · 249 posts · 146 votes
    9y

    @Christopher Oliva What list are you mailing to? How did you screen the sample?

  • TX · Member since 2016 · 48 posts · 13 votes
    9y

    @Jarrod Weaver I put together a list using listsource.com with the following criteria: more than 3 bedrooms, Last Market Sale Date no earlier than 2004, and absentee owner in&out of state.  I targeted a few zip codes in San Antonio that i know very well, as well as some areas in-between San Antonio and Austin.  

    As far as screening the sample, what do you mean by that?

  • Broker/Investor · Georgetown, TX · Member since 2011 · 249 posts · 146 votes
    9y

    I'd recommend you also include some factor of distress. The 4 D's -Divorce, Disaster, Default or Death. These are the ways sellers become "motivated". The limiting factors you use are the screen for the sample. 

  • TX · Member since 2016 · 48 posts · 13 votes
    9y

    I'm going to try this list 1-2 more times (i'm having postcards sent out again this week), and if i don't see improved results then i'll be changing things up and putting a list together centered around divorce and default (i don't want to deal with estates and i wouldn't know where to start with the disaster factor).  I also think that i'm going to spend some time driving for dollars to try and find some vacant/distressed properties. 

  • Broker/Investor · Georgetown, TX · Member since 2011 · 249 posts · 146 votes
    9y

    Disaster is as easy as any of the others. Look at the county jail lock up records. Felony charges and DWI's are certainly disasters...

  • TX · Member since 2016 · 48 posts · 13 votes
    9y

    Interesting, you're the first person i've seen mention that as a possible source (i'm a novice, so i know there's TONS of stuff i've yet to learn and discover).  How much success have you had marketing to those with felony charges or dwi's?  Also, How would you get any information on their property before ever contacting them (rooms/bath, equity, last date sold, etc)?  

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