All Forum Posts by: Account Closed

Both of the areas mentioned by @Cameron Tope are excellent places to invest.  Houston has extremely attractive returns for rental properties! 

I'm not sure if Cameron is able to assist you with finding properties, but he seems very knowledgeable about the market.  If not, you may want to reach out to Networth Realty.  They are a large local brokerage that focuses on wholesale properties for investors.  They have a good reputation within the investor community there. 

@Monti Harris @James Barnhart

Thanks everyone!  I hope 2017 is an incredible investing year!!!!

Hi @Dan Tsunekawa,

I started my career investing in Houston and the cash flow #s are stellar compared to other major markets (even within Texas).  There is a tremendous investor community there and hopefully you can tap into their resources to make sure you are working with high-quality professionals. 

My only advice, and I know people would say this about most cities, is to be very particular about where you invest.  Even more so than other cities, prime areas and "avoid like the plague" areas are butted right up against each other. 

I definitely think its worth your effort to learn more!

Hi @Zana Blue -

I think that's a very cool thing to do, plus what if she ends up bringing you a great deal in the future???? Everybody wins! 

I see it was mentioned in a post above but a Self-Directed IRA is one of the most powerful tools in real estate! You have complete control over what you invest in and have all of the tax advantages of a traditional IRA or 401k. I have done several types of r/e deals in mine............and absolutely love it. I use Quest IRA but there are many providers.

What was highly beneficial for me was that I got to rollover my 401k directly into my Self-Directed IRA so I didn't get slammed with any penalties.

There are some really great webinars on the Quest website that would definitely be worth checking out!!!! 

Hi @Account Closed -

That is probably a fantastic question for a forum topic.  I would be really interested to see everyone's responses. 

For the first 2-3 years I did not have a license.  I've had my texas r/e license for about 4.5 years and it really changes how you do things pretty dramatically. 

A lot of it will come down to your personal goals and how you plan on creating an income for yourself. 

I'd be really curious to see how others who have been on "both sides of the fence" feel about this topic. 

Hi @Todd Magin - that is an excellent, excellent point! 

@Rocky V.

I completely agree! Eventhough I worked in finance for a quite a while, I never knew you could buy r/e in your IRA either............why? no money in it for Wall Street.

Hi @Account Closed,

Its hard for me to even provide a summation because of how excited I get about what real estate can do for you.  No joke, I was flat-broke and my credit was in ruins when I started.   I had a previous business setback that I needed to financially (and personally) recover from.  I started my real estate investing career wholesaling because essentially I had no other viable options.  So one thing I can tell you for a fact is you don't need lots of money to get started. 

I think the two most important contributors to beginning success are a willingness to learn and a willingness to take action.  There are so many amazing resources available now (like BP, like local investor groups) that you can really get up the learning curve very quickly.  I think where most people get tripped up is thinking they just haven't learned enough yet to get started.  The reality is there is so much information to learn about r/e that you're never going to be completely comfortable before you start.  You just have to start anyways! 

So to answer your question, I actually closed many types of deals before I bought my first rental.  The most important part of the process was learning.  Learning the different types of real estate strategies (and when to successfully use each one) and learning how to acquire properties at the right price. 

I know this seems like a generic answer, but it really is true.

Lastly, I would caution that anyone telling you that you can become a r/e millionaire just sitting on your couch is full of _____.  It takes a lot of hard work and persistence but in the end the effort is completely worth it.

I hope this helps in some way! 

@Meidelyne B.

Very exciting!  Your first one is always the toughest.  Keep the faith and keeping pushing to make it happen!  Its definitely worth the effort!!!! 

Hope 2017 is an awesome investing year for you.