All Forum Posts by: Austin Fowler
Austin Fowler has started 54 posts and replied 241 times.
Post: Paying for mentorship
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Nate Garvey:
I am getting started in real estate investing, with plans to buy my first rental by the end of this year or early next. Is paid mentorship worth the price? How do you vet the person to make sure they are who they say they are? I subscribe to someone's newsletter I connected with on Linked In. He offers $50/month coaching with direct access to him, and other benefits. The price seems reasonable, but I'm not sure how to vet his credentials. What is a reasonable amount to pay for a legit coach?
In my opinion, a legit coach is someone that is successfully executing a strategy you would like to learn, and is capable of constructing a win-win relationship with you that doesn’t involve you paying them fees. In my case, I have experience with single-family rentals (32 of them), multifamily syndications (invest in over 2200 doors), renewable energy, and flips (currently have 7 on the go). And I say to anyone reading this that if you take the time to email me I’ll be happy to respond and share my experience.
Post: Advice for New Investors
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Lauren Stanton:
Hi everyone! Me and my wife have been wanting to get into investing for years but we've finally flipped the switch and are ready to take the plunge. We've been reading rental investment books and listening to the BiggerPocket podcast, as well as asking around for more info. But we're a bit stuck with so many questions on how to get started. We're currently renting and both working full time. We figured we'd start our portfolio with a house hacking gig, but more of a "live in renovation" before renting and following the BRRR strategy. However, the properties in my area (Broward County) are so expensive and finding a good deal with a reasonable CoCROI seems impossible right now. So if anyone has an advice on where to start, and/or how to start, we're all ears!
Always best to start by talking to people that are successful in what you want to be successful doing. I can introduce you to someone that is successful in out-of-state BRRRR investing. Just email me if that is something you would liketo happen.
Post: STR locations for a beginner
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Emilia Crisswell:
Hello, I've been interested in a short term rental on the East coast for some time now but most prime locations are extremely expensive. What are some locations that are popular but a little further from the central vacation spot?
I've talked to many STR investors recently and haven't met a single one that is expanding their portfolio at the moment. They all seem to be focused on monetizing the management of other people's STRs. Is there anyone in this community that currently owns several STRs and is looking to expand their personal portfolio?
Post: Beginning in Real estate
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Mason East:
My name it Mason I am 18 and I just graduated highschool in Houston. I am saving money to hopefully use an FHA loan to purchase my first property. I am looking for any tips, advice or mentorship along the way.
Hi Mason,
Would you be interested in being introduced to add a successful out-of-state BRRRR investor that knows how to raise all of the capital to purchase the properties they work on? Email me if that is the kind of person you would like to speak to and I'll make an introduction.
Post: Bought first three duplexes this year, not sure where to go from here
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Ryan Tongue:
Hi all,
I'm 23, bought my first three duplexes last fall (in a partnership, not the sole owner). I was in college at the time of investment and didn't have the bandwidth to take on a renovation, so all three properties were relatively straight forward: 20% down fixed 30-year, place a tenant, wait.
My biggest takeaway from the experience is that we tied up a lot of capital for very little cash flow -- essentially, I don't feel that I put myself in a position to scale. I'd like for my next investment to be made with some sort of exit plan to recycle and reuse the capital put into it. I'd lean towards a BRRRR, but I certainly won't have enough capital to make a cash purchase for a while.
Where should I go next? Should I be looking at apartment complexes for better cash flow? Some sort of flip? I appreciate that it takes time to build passive income in real-estate, but I'm hoping there's a smarter way to go about it than saving up $50K to dump into a property that cash flows a few hundred a month.
Would appreciate any advice regarding the direction I should go next. Another thing that might be an important factor is that I'm confident I could raise about $0.5mil in cash if I did want to bring on other investors who've expressed interest.
Thank you,
Ryan
I have a friend that raises money privately for the down payment and then executes an out-of-state BRRRR strategy. Would be happy to make an introduction. Just email me.
Post: Seeking Input - Next Play after Buying First Home in CO
- Investor
- Reseda, CA
- Posts 274
- Votes 139
What is the interest rate on your mortgage? When you aggressively pay down your mortgage, you are effectively investing your cash at the interest rate of your mortgage. If you know how to invest and achieve a return higher than this, is objectively better to do this rather than rapidly pay off your mortgage.
I have 7 flips on the go at the moment, and my target return on my cash when doing so is 40%. I can introduce you to one of my friends that focuses on flipping and achieves even higher returns than I do. My recommendation is to meet a few more people and learn about ways to get your money really working. Putting money into a mortgage is definitely not doing that. Happy to chat, that offer is for anyone reading this. This is a great community, and I'm always happy to share my experience and make connections with other people I know.
Post: Am I wasting time looking for a “perfect” market?
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Jackie Mcmorrow:
Hi BP! My name is Jackie and I’m looking for some guidance as I begin my real estate journey. I’ve read a few books/ listened to some podcasts on real estate investing and am ready to start analyzing deals but am stuck on which market to narrow in on. I can feel myself getting into analysis paralysis (in terms of market selection) and the last thing I want is to quit before I really even try.
Appreciate if anyone has thoughts on markets that generally fit the criteria below and I’ll take it from there! I’ve also included a short list of cities that seemingly fit what I’m looking for but am open to thoughts here as well. Worth mentioning, I live in NY and am leaning towards investing out of state, for lower property taxes and more landlord friendly laws.
What I’m looking for
- Buy and hold property
- Long term tenants (ideally vacant at purchase)
- Single family home
- Class B to A (likely B for more cash flow opportunity) neighborhood
- Opportunity to add value so am more than open to rehab
- Cash flow as primary focus
- An area with comparatively low risk of natural disaster
- Of course somewhere with growing population and jobs and less than average crime. Added bonus if a large corporation/ industry is investing in the area and or a city with confirmed infrastructure improvement plans
Cities I’ve found that seem to fit the mentioned criteria but appreciate thoughts/ guidance/ direction:
- Cincinnati, oh
- Columbus,oh (but seems like too hot a market?)
- Dallas/ Fort Worth, tx
- Charlotte, nc
- Toledo, oh
- San Antonio, tx
- Minneapolis, mn
Hi Jackie,
My focus is on out-of-state investing. I'm in CA and currently hold assets in AL, AR, CA, FL, GA, IL, IN, MA, MO, MS, OH, OK, PA, TN, TX, WA. Happy to share my experience. Message me if you would like to chat. Same goes for anyone else interested in building a robust out-of-state portfolio. I have 32 single-family long-term rentals, a stake in over 2200 units of multifamily, and currently have 7 flips on the go.
Best,
Austin.
Post: What bank should I use for a checking account for a Real Estate LLC?
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Ari Dandridge:
Hello Bigger Pockets community! I have a question for anyone who's willing to answer. I'm concerned about which bank I should use for this business LLC. I'm currently leaning toward Chase Bank with US Bank as a close second. Unfortunately I've heard that US Bank gets tricky when moving large amounts of money so I'm wary of working with them. I'm also crossing Fifth Third off the list of banks I want to use because I don't believe they are user friendly.
If anyone has recommendations or advice it would be much appreciated.
There also non-FDIC options that pay interest rates as high as 8% that you can access if you are an accredited investor. Again very suitable for large amounts of money as these options are asset-backed rather than government-backed.
Message me if you would like to learn more about either of the above.
Post: Seeking investors in Augusta, GA
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Abhishek Ghuwalewala:
I'm a rookie looking to buy my first deal out of state. I found the Augusta-Richmond-Columbia county area attractive based on my market analysis. My strategy is to BRRRR but am also open to an attractive fix and flip. I'm looking to learn from investors who've been successful with this strategy in the area. Would love to connect and hear any advice you are able to share to help a rookie out.
Thanks so much in advance!
Post: Raising Down Payment Money
- Investor
- Reseda, CA
- Posts 274
- Votes 139
Quote from @Kyle Deboer:
I am 18 years old with very little credit history and little capital. I am eager to start but can't get around the glaring issue of not having initial capital so I was wondering if there are any methods you guys would use to raise capital if you were in my shoes or is it just time to put my head down and put in long hours?