All Forum Posts by: Ashton Hines

I do not but I'm a member of an Ohio investment group on Facebook that is pretty active. I would join if I were you and connect with a local investor to find out what they use.

Having the knowledge as an agent will serve you well as an investor and you can definitely supplement your income. I would suggest joining some wholesale or investor groups for the area or state and become the go-to person for others when they find a property in the area they want to make an offer on or sell. There are a lot of people across the country that are looking to lock up deals and will split their assignment fees with a local to help them get the deal done. Plus you can write offers for them as well. Then you will start seeing what things go for and might can pick up a well-priced flip and you are off to the races in building your investment portfolio. 

I have a W-2 job and also am an agent. The hardest part initially is to rebrand yourself within your friends and family group as someone who can do a good job for them as an agent when all they have known you as is something else and you are still that person in their eyes if that makes sense. That is why I have loved investing/flipping etc. I generate my own business and in the process get to post about it and building social credibility which in turn has brought in business from my network. 

Like anything, if you do the things other people are not able or willing to do then you can be successful. A lot of agents only know the success of the last few years and have not had to grind out a downturn. They have not had to negotiate much or handle stressed sellers and houses staying on the market for several months. So you being new now is not a huge disadvantage compared to a lot of agents. Don't be intimidated by a "full time" agent if you know you are putting in the hours and trying to serve your clients at the highest level possible. I think it's a no-brainer for anyone who loves real estate and likes to help others solve problems. 

I'm in my first round of leads and so far I have been impressed by the volume of leads coming through. I know a lot of the success will be dependent on my follow up and to be honest it may be a few years for several that reach out. But the way I see it is if I can get one close out of the batch then I'm at least paying for the program and I can keep building potential buyers list indefinitely.

I would give a plug for the One The Market podcast. They hammer economic trends and often discuss the lack of units in single and multi-family. A positive inflow of population and a business and landlord-friendly environment are the base. One way to think about Austin is as a forerunner to pushing a renter economy more and more. Lack of affordability in homes will drive people to either rent or become creative with their living arrangements. 

That being said there seem to be a lack of units in general and math is math. If you can make the cashflow work by getting a good buy and adding value with good management then it's a good investment. The debate might be long term appreciation and potential compression of cap rates if you pick the perfect area. I don't think you can go wrong in either place if the fundamentals are there. 

Hi Alon, I'd love to connect. I am in Carrollton but have a flip in Richardson and near White Rock Lake currently. But, acquiring multi-family through syndication is in the plans for 2023 and I would be interested to hear your experience!

You can't really go wrong if you just pick one of the beginner strategies i.e. wholesaling, house hacking, BRRR on a rental and then concentrate on learning and listening to just the info on that. It's super easy to get "shiny object syndrome" and be convinced that the next interview you hear is the way to go. Go all in on one strategy and seek out local people who are doing it and figure out how to add value to them. Drive for dollars or find out a point for them and help solve it and you will have a new friend and mentor that will be glad to help you. Then do everything you can to get in on a deal or complete a deal yourself.

Once you do that you will not turn back and a direction will become more clear. You won't ruin your chances at future opportunities by doing a deal or two that maybe aren't the best or most profitable of all time. Think of it as an education that can make you some money while you learn. Then become more passionate about an area as you go the profits will take care of themselves. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $460,000
Cash invested: $10,000
Sale price: $635,000

This was an easy house cleanup along with new countertops, backsplash, touch-up paint and landscape cleanup. Plus the owner did not want to move or sell any of his stuff so part of the deal was my agreement to handle that task for him.

What made you interested in investing in this type of deal?

It solved a problem for a person who did not want to mess with selling a house or it's items so he could easily move on to another chapter in his life.

How did you find this deal and how did you negotiate it?

I met the owner and became friendly over about a 6-month time frame after we connected talking about growing near the same part of Texas.

How did you finance this deal?

JV partner who assisted with Hard Money Loan

How did you add value to the deal?

Updated Interior and cleaned up landscaping

What was the outcome?

We priced a little below market and got 4 offers in 24 hours in a slowing market and closed without a problem to an end user.

Lessons learned? Challenges?

8620 Barlow was a great example of how money is not always the main motivator for a seller. This particular individual had lost their spouse and a son within a 6 month period and wanted to move into an Independent living apartment so he didn't have to take care of the house and yard and to be honest I think he just wanted a fresh start. Towards the end of the process, he told me that he hoped I made $100K and thanked me for helping him out.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I used Easy Street lending for the HML and represented myself

I agree that if you can figure out the cash-flow to keep it that would be the best option. If you get in to a loan now at current rates and it cashflows then you will be in a good position long term when you refinance. Plus, many of the multi-units in the DFW area for that price range will need some work so you can also do renovations to the side you will be living in and then charge more rents eventually when you move out.  I just looked and for that budget there are several duplex options. It just depends on where you want to live. 

Hi Kevin I live in Carrollton and am looking to do a syndication this next year with a partner. I'd love to connect to pick your brain about the process and see what you have learned. We both are coming from the single family or STR world but want to take the leap into multi.