All Forum Posts by: Blaine Alger

Did he even do a live bc I have did not see anything and he hasn't made any other post addressing it. I wonder what happen?

First off, be sure to get it in your head that wholesaling is not as easy as the gurus make it out to be. It is a lot of hustle and there is a lot of competition. But it can be lucrative if you are willing to put in the work and build systems that allow you to out perform the rest of the crowd.

Learn how to talk to people. If you are not comfortable with communicating with others then I would start at building those skills. Communication is the MOST important skill you can have in this business (and just life in general). You have to know how to build rapport and trust with sellers in order to found out their true  motivation and get deals done. If you are scared to talk to sellers, face those fears and put in consistent work to overcome it.

Here are some more concrete details for you on how to get started: 

-If you are starting out, you just need 3 things:  

a google voice #

whitepages/truepeople search 

public data.

-If you have about $200-300 a month to spend, then you can get a little fancy with it:

1. Mojo Dialer for cold calling -99/month

2. Propstream for data and pulling comps-90/month

3. Turbo skip for skip tracing your data- 15 cents a record

PULL NON OWNER OCCUPIED PROPERTIES AND YOU CAN ADD OTHER FILTERS TO SLIM DOWN YOUR DATA.

If you have any other questions feel free to reach out, happy to help. 

-BA

Filing in Texas would be my best guess, but you could also just use the one you have in Oregon and maybe register it as doing business as (DBA) in Texas. I am not sure if that is possible but just a thought.

Where in TX are you buying storage units?

Seems like you are off to a great start but I do have a couple critiques.

First off, VA loans are awesome. They provide the best option for getting into a property/house hack for little money. I am just a civilian so I can offer too much guidance on the the military/investing combo but the VA is the route to go in my opinion.

The main issue I have for your plan is plan is why the 15 yr mortgage. Maybe you can offer me some clarification but personally I would stick a 30 year FRM. And here is why:

-Cash flow is king. With a longer amortization means less of monthly pmt which means more cash flow 

-You can always treat a 30 year like a 15 year by paying more each month but you can't do treat a 15 year like a 30 year. 

Just somethings to think about. Others will say stick with the 15 but I like 30's.

Feel free to reach out, if you got any other questions.

I would say just go for it...... IF the #'s work. I think you are trying to talk yourself out if it and I believe you will learn 10 times more by just pulling the trigger and taking action. 

Seems to me like your family member is willing to give you fairly favorable terms and the purchase price should not matter as long as you are able to structure the deal in a way that allows you to cashflow. You definitely don't want to  make an investment just to take a $100 loss a month on the property (but if your bro will be house hacking then thats something else to take in to consideration, and -100 CF might not be terrible).

You didn't give us a ton of #'s to go off of so I can't give you my best answer but if you shoot me a message with some more info i would be glad to take a closer look at it. 

-BA

I think you are definitely in the right place.

Texas is the place to be.

Not sure what your financial situation looks like (you might be daddy warbucks for all i know) but i would assume because of your age, you don't have access to a lot of capital. Austin is hot and expensive, it will be hard to get into a property (not impossible, though). I would encourage you to look into some of the suburbs around Austin (30ish min from the city center). Go talk with all of the investors in the area and see if there is anyway you can provide value to them. This will help you build contacts and get a feel for the market. 

I don't care what the gurus say, you need money to buy real estate. There are multiple creative finance options out there that can make it so you don't have to bring as much  money to the table  but at the end of the day you will have to bring something. Once you become more experienced, you can find other options that will allow you to bring $0 to the table but it takes time to build those relationships and learn those tactics. As a beginner, expect to throw some dolla billz. 

With that being said, go talk to the banks and see if it is possible for you to get a loan and for how much. This will give you a better idea on where to start and then you can have a better idea on what is achievable. In the mean time continue to educate your self thru BP and go talk with all of the investors in the area and see if there is anyway you can provide value to them. This will help you build contacts and get a feel for the market.  

Feel free to reach out, I would be happy to answer any other questions. I am right down I-35 in Wacko.

-BA

(P.S. @Henry Clark has got the right idea. )

I am located in the Wack. 

Shoot me a text if you want to chat some more.

@Todd Pultz

Love the attitude! 

The break down is also very helpful. I am familiar with the tactics but i like the way you conceptualized it. 

You gotta spend money to make money and if you happen to lose some along the way, that is the best education you can get. 

Im not stupid, and its not like I am gonna sink 10k into trying to lock this up, but is 5 hrs of my time and talking to a couple of people to educate myself on the circumstances really that big of a waste of time? I got nothing but time, might as well give it a shot.

Well shoot, sounds like you got it all figured out of you are exiting out on developments 100k+ at 21.

If you want to retire by 27, sounds like you are after cashflow. I would  go throw that cash into some rentals in the midwest and just rake it in. You'll be in Tahiti sipping mai tais in no time. 

Maybe there are some tertiary markets in WA that might be able to do the same thing. I just know that Seattle or LA would not be your best bet. 

Get on the phones and start talking to people.

If you are starting out, you just need 3 things: google voice #, whitepages/truepeople search and public data.

If you have about $200-300 a month to spend, then you can get a little fancy with it:

1. Mojo Dialer for cold calling -99/month

2. Propstream for data and pulling comps-90/month

3. Turbo skip for skip tracing your data- 15 cents a record

PULL DATA FOR NON OWNER OCCUPIED PROPERTIES - they are fellow investors and have no emotional attachemnt to their homes.

OR PULL DATA OF LIENS OR UNPAID TAXES- these show financial hardships and lets you know that the owner may have motivation to sell due to financial hardship