All Forum Posts by: Alex Gordon

I plan on taking my time and absorbing all the material.  I don't want to be a retail realtor, but rather gain knowledge of the industry and some credibility as I start out as an investor.  So, it only makes sense for me to explore all the courses have to offer. 

Thanks for sharing Doug and Gig Em!

Does anybody have experience with or can recommend these Texas schools below for online courses and test prep to become a licensed agent?  They all appear to cost roughly the same and I'm wondering if they are all basically the same in their presentation and scope of material covered or if they vary greatly. I'm looking to start the mandatory 180 hrs of TREC classes. Thanks for any feedback in advance.

Champions School of Real Estate

DFW Real Estate Academy

Kaplan Professional School

Purvis Real Estate Training Institute

Real Estate Training and Technology

Yes I think I was overthinking a bit. I just want a pretty close cash flow approximation and I think I have it now. The closing cost plus down payment were duplicating the total out of pocket expense and thus throwing off the P and I in the mortgage payment. I found my closing documents and I believe I have an accurate number and was able to manually adjust fixed monthly costs if needed to align with what I'm currently paying, plus I found out what appraisal amount my current lender is using to consider a HELOC I applied for so that is perfect for my ARV. Thanks again, Patrick!

@Patrick Liska I have not found those fields in the calculator but i appreciate the confirmation of approaching this the right way.

@Bryan O. I will track those closing costs down from my documentation and plug them in as you say and see what it looks like. I am looking into possible refinance at current market rate and then get some cash out or get a HELOC and look for another property. I am new to investing and have so much to learn.

Thank you both for taking the time to respond!

Hello BP community,

I currently have an SFR as my personal residence that I am considering renting out. I am trying to use the BP rental calculator to do the analysis and am unsure how to approach it since it is geared towards making a purchase and ARV. Since I own it already, should I just plug in the numbers from the sale 3.5 years back (purchase price, interest rate, closing costs, etc.) and use the current market value and comps from a site like Zillow to come up with an approx ARV? Is there another calculator out there better suited for this that I am not aware of? Am I on the right track or way off in my attempt to crunch the numbers?

Thanks,

Alex

I appreciate the feedback.  I will keep you in mind if things change.

I visited your website and aspire to be in your position one day.  

Best of Luck in your endeavors as well.

Hello All,

I am new to BP and also new to REI. I currently own a 3/2/2 SFR starter home in west Fort Worth, particularly White Settlement/Chapel Creek, in a great working class neighborhood. There are new homes going up all around, major highway road expansion just on the horizon, in addition to the Walsh Ranch being built just down the road. My question is whether anyone has experience with their own rentals in this part of town and whether there is a strong demand for them here. I bought my house in late 2012 at a great price and it has appreciated a good bit since that time. I have checked rentometer website for comps and feel pretty confident it will cash flow without yet running the hard numbers. I am considering starting my investment career renting my own home and then looking for a duplex to house hack as my next move. Thank you in advance for any replies and advice.