All Forum Posts by: Geoff Perkins

@Crystal Cea FHA loans are for owner occupied. If you are going to invest out of state and you are not moving there you will need a conventional mortgage or utilize a creative strategy such as BRRRR, seller financing, private money or a partner. Best of luck!

@Vince Kallarackal I'm not familiar with Texas propert tax laws, but I work for an assessors office in Washington state. The first step, if you haven't already done so, should be to contact your local assessors office and ask them to explain the process. They are government employees and are there to help. My coworker likes to say, "we don't work on commission", as long as you are polite and pleasant they should be more than happy to help you. Keep in mind that there are several elements to property taxes; the property's value and the tax rate for that area. You can't really control the tax rate so focus on the assessed value of the property.

@Darius Perkins welcome and I must say you have a fantastic last name! Best of luck with the 10 doors!

@Kyle Doriety my take is that I want as much leverage as is financially feasible. As long as you have a decent amount of net income and enough reserves for several months, then I would leverage the property as much as you can.

@Kyle Doriety that is a difficult question to answer. It depends on personal philosophy, investment strategy, risk tolerance, financial situation.

Which type of investing you are doing, rental or flip?

Jamie Foster , it’s been a while since I went to their seminar and I never used their software so I can’t give you any insight on that. From my experiences there are some pretty good software options out there for not a lot of money (check out houseflippingspreadsheet.com) but I don’t think any will be a full turn key business system. They all seem to be tailored to a specific part of the business. Flipping appears to be a simple business on the surface, and if you feel like gambling, it can be simple. If you want to really turn it into a profitable business then it needs to be run as a business and it gets quite complicated. I don’t mean to scare you away, merely advise you to read and do your own research as much as possible before diving in. The seminars tend to sell the business as follow our system and you will be on a beach sipping cocktails in 18 months. From my perspective (others may have a different opinion) this business is more complicated than that. It will give you all kinds of bumps and bruises but it is also very rewarding and if done properly can be very lucrative. Sorry for the novel, I could go on for days but the moral of the story is; research, make a good detailed plan, start small and be prepared to spend extra time and money in the beginning because things will go wrong but not having the capital to overcome the problems will sink you. Best of luck! I love the business and encourage you to give it a try!

I moved from Sacramento up to Skagit Valley this summer lol. What are you looking for up here?

I wouldn’t pay for it, I went to the low level but didn’t buy the next up. I kept in touch with a guy who did and said it wasn’t worth it. Robert Kioysaki’s 3 day for $200 was well worth it in ideas and tidbits for me, but if you cruise around this site, there is 1000 times more info and all of the seminars are like drug dealers. They give you a taste to get you hooked and then upsell you to the next level and the next level and the next level. They won’t give you al the answers in a weekend class.

I would find another site to use, Zillow has some super outdated stuff on their site and misses other active stuff. Back in 2012 I used Zillow and found a prospect for a flip, wen over to Redfin to see some bother information that they show and the property had already been bought, flipped and was up for sale over $100k higher. Also I have friends who are looking to buy a house and he sent me 2 properties he found on Zillow and one sold a month ago and the other is bank owned but not for sale. Try realtor.com they seem to have up to date info and are in pretty much all markets I believe. Good luck!

I wish I was on here before I started lol. Read as much as you can and create a business plan. If you’re going for rentals (I’m not there yet, I’ve been doing rehabs), be sure to check on how inflated the market is. Don’t jump on the “it’s booming so I better get in on it” bandwagon. Make sure your deals hold solid merit and don’t try to make the numbers work for the sake of getting a deal. Good luck!