All Forum Posts by: Aaron Beauchamp

@Dylan McCabe I have never heard of the course. I can say there is a great program that all new investors should join called lifestyles. Its based out of Houston, but they have grown in recent years and Dallas now has mentors in both residential and multi family investing. I have seen a lot of success out of the program. 

@Jodi Rhoades I can tell you from a property management stand point its difficult to turn all the apartments with only a few months of summer to do so and they can really wreck an apartment. On the investor side the money is better with college students because you can rent per room instead of per apartment and have the parents guarantor for any damages. You can usually collect 1st and last month deposit as well because the kids do not have credit. 

@Dylan McCabe A good wholesaler is a real pain to find. Dallas has many meet ups that will be beneficial for you for education and networking to find deals. At big events like the Dallas REIA there will always be wholesalers so if your looking to get into touch with wholesalers that are working with investors this will be the place to do so. They usually have booths you can go right up too and get on a buyers list. The deals that they will send you will not always be good deals so learning how to properly analyze will be your saving grace.

@Michael Solomon I am familiar with FHA. As a company we do not do that loan type, but if you have questions I can help you.

@Michael Solomon If your looking for any advice or help let me know I'm a lender in the area who specializes in working with investors to get their deals closed! Happy hunting for deals and Welcome to Bigger Pockets! 

@William Carr Hard Money is a great tool! However its expensive and you will need cash reserves. I like to see 15% to 20% reserves that are usable at a moments notice. this is because most hard money lenders work with a draw. This means that if you need to replace a roof and that costs you $10,000 you will typically need to pay that out of pocket, then we would send out an inspector out and reimburse you. Also unless you get a great deal with a solid ARV you will probably be bringing cash to close. Money is needed! Hope this helps!

Lubbock is a growing market that's HOT right now. I'm Tech alum and I instantly fell in love with the real estate market out there! Student Rentals are the driving force for the buy and hold investors out there! Good Luck and Wreck'em Tech!!

@Sandro Bianco I'd look at making a budget and saving more money. I know your eager to get your feet wet, but I see routinely how things can go wrong in this business in a hurry. You need a good amount of money to comfortably move forward. I wouldn't join the military for the student loan debt. As a former Marine I can tell you that you will deploy and unless your ready for that life your going to end up really unhappy. There are other ways to get into this industry you can wholesale properties for capital or partner up with flippers and learn the ways of flipping for capital. Going to meet ups will help you meet someone that maybe able to thrust you forward from where you are. Network, Network, Network

@Anthony O. Yes, taxes can rise roughly by 10% a year max, but at your price point I don't see that being a serious problem. However its a problem in the higher price points where values can shoot up causing an extra $1,000 in taxes. Your price point is relatively safe from drastic changes in your taxes.

@Anthony O. So you have 25K which is enough to get you into a hard money to perm loan on a 100k property provided that the ARV is high enough. Lubbock, TX is one of the best growing markets in Texas at that price range plus its a college town with an increasing number of students looking for student housing. You might wanna check it out! Hope this helps!