All Forum Posts by: Alan E.

You make your money when you buy, etc.

If I were to buy a 3 br 2 bth single family in a desirable neighborhood, no repairs needed, traditional financing with a 30yr fixed rate mortgage, would i be making a bad investment if I purchased the property through a realtor?

Listening to Brandon's Podcast here makes me think that i need to buy a property that is falling into a sinkhole and covered in black mold and then get my "Justice League" of contractors to fix it up before I can make a profit off of it (using the BRRR strategy).

I desperately want to jump off the high dive into real estate investing but Im deterred because I dont want to buy a property with more cigarette smoke damage than a 1950s casino. Am i being unrealistic? Can i buy something through a realtor and have managed by a professional property manager (assume 10% commission) to make it worth my while?

For discussion lets assume typical Midwest suburbia.

My name is Alan and I work in the construction industry. Specifically, I create blueprints that contractors build from. I also do some construction administration as well. By the end of the year I will have my Professional Engineer's license here in Texas.

In my profile pic you'll see a picture of my niece. She is the reason I'm getting into real estate investing. Ultimately I want to be able to spend more time with family.

Do you need a National Electric Code (NEC) or International Energy Conservation Code (IECC) answered? Do you have any questions about lighting design? Send me a message!

I'm also considering setting up some happy hours within Dallas city limits (no pitching, only networking). Would anyone be interested?

What age range for a home would be acceptable if you were looking for investment rental properties and were using a rental property manager?

What specific problems do older homes have (structural, upgradeability, poor insulation, etc.) that you would look for?

What is your sweet spot age for investment rental homes?

I am an electrical designer and I have my LEED Green Associate Credential from USGBC. I noticed the LEED for homes green rater credential and was wondering if this would help be beneficial to my career as a future real estate investor (focusing on single family rentals in western michigan).

Does anyone else have experience with LEED and this credential?

If you were to buy a multifamily unit to live in one unit and rent out the others, but it was split first floor/second floor. Would you choose to live in the top or bottom and what factors would influence your decision?

Just like the title says, Im wondering if it is illegal to accept payment for connecting a buyer and a seller? If this is not illegal what is the correct way to go about this? If this is a legal issue what is the penalty?

I work as an engineer full time but I want to build a real estate portfolio of rental properties. My goal is to buy something within 5 years (in Michigan, not local here in Dallas). In the mean time Im building my savings and educating myself.

Besides books, podcasts, and videos how can i learn more about being profitable in real estate?

I would really like to network, but where and how can i do this locally in Dallas?

My mother lives in a suburb in the Southwest suburbs of Chicago. Her landlord has expressed interest to sell. I was thinking maybe I could sell the lead to a local real estate investor (I understand this would be a bird dog thing which some might frown on).

This has the potential for a wholesale deal (i think, be gentle Im still reading real estate books) because the house is in disrepair, needs roof work, foundation work, windows aren't painted, house has water leakage issues, and a lot of other issues which we have intimate knowledge of since my mother has lived in the house for four years. The house is a 3 bedroom 2 bath, has a separate covered garage, paved driveway, average sized lot for the neighborhood.

How would i find an investor who would be interested in the house? Is this worth pursuing as selling the lead bird dog style? How would i secure payment from such an investor for the lead?