All Forum Posts by: Chris Bounds

Everyone knows that rental properties is the best way to build wealth and passive income.

Building a million dollar rental portfolio is a lot easier than you think.

The best thing is you do not have to have a ton of cash in the bank to start buying rental properties.

And even better it you don't need nearly as many properties as you think to be a real estate millionaire.

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#2 for us. We're holding more properties which allows us to pay more than what a flip would require. 

I've flipped around 200 houses and wish I had kept a lot of them as rentals.

We will still flip occasionally, but the primary focus is holding.

Renters Warehouse is a franchise flat fee service PM. I know the owner of a Houston franchise. See if they are in your market.

Yes that is common for HML. Once you get some experience you can find private lenders and community banks that will be cheaper.

Yes and I highly recommend it. They'll be a good resource to help underwrite the deal. 

You'll pay more in fees, but you can keep your cash available for reserves or your next deal.

As a side note, regardless of your brokerage once you get a certain amount of transactions and experience you can opt in to Redfin's referral program.

You'll typically get polar opposite opinions, similar to Zillow. People will love them or hate them.

It really depends on your goals. I'm not sure what Redfin offers from a training platform. I've seen a few new agents go there and then hop around elsewhere. 

For training, you can't beat eXp's platform. Yes I'm bias. What other platform offers 50+ hours of live virtual training each week plus the new agent mentorship program.

KW has a big name for training too.

And then there are smaller local / regional brokers that can offer a lot of hands on support.

I'd go if I lived closer! 

Get it under contract and find a JV partner that can help with financing and experience.