All Forum Posts by: Caleb Brown

There's no magic time. If you have the funds and financially ready then that's a start. From there you want to run #'s. If the #'s fit then you can pursue, do further due diligence. What strategy are you looking to do?

In my area they do exist but cashflow is low or none. Nicer areas/suburbs it's more common to have to bring cash to close. It's not like it was a few years ago, it was a unicorn time then

As a newly licensed agent I would focus on building that business. It takes time to have consistent closings and deals. Once you have some income/savings hard money and private money is great to get a fixer upper. Once it's fixed up you can flip or refi into a DSCR loan. When you are getting these commissions stock them away in a high interest savings account, don't be tempted to spend it all. Also keep in mind taxes, many agents forget that ;)

We have a inhouse TC for our brokerage/team. We use dotloop where she can audit the files and submit them. We have used other services like Trello to have a checklist so deadlines and things don't get missed. She uses Google calendar to put deadlines and reminders. She also has a sheet with canned emails for when deals go under contract, notifying the other party of inspections, intro to title, etc. As a TC it's vital that you know the deadlines and don't miss anything. Remind the agent of what's needed and help the communication part. I love having a TC, makes it way easier to do more deals

Can you get your income up? 35K is super tough to save and invest. I would focus on increasing that and getting rid of consumer debt before looking or thinking of real estate. You need the right foundation to set yourself up. If you can get your income up and get rid of debt I would look into house hacking a 2-4 unit place but that'll be down the road. At 40 your money won't compound as much as a 20 year old so having higher income to throw at stocks, real estate will accelerate things. 

Agree with Nicholas. You have no experience or track record. You need to save some cash then you can look into tackling a deal. You can also start simple with a single family. Hard money loans can be a good way to get into a deal. Don't put offers in and go for deals till you have cash and have the financing lined up. 

If you are local you can drive by and see if it's close. As long as it's not behind the property, next to it then you won't hear it much. I live a couple minutes from a track where we get a handful of trains, it does not effect anything. If you are not local you can look at the maps when you are looking at a property and it'll show if there's a track right by the property.

When I click the link it's at $199 so even a better deal

Agree with Joe. I would find someone else or take it back over till you find a better solution. Even if you do meet with the current PM they most likely will blame it on things and not be motivated to get the property where it needs to be. Maybe you can find someone to be onsite and teach them, since you ran it well you know what you are doing. 

I like the plan. Paying off consumer debt and having 70K should be plenty to work with. Hopefully someone local to GA chimes in. It'll be tough for you to move over and over with 3 kids so do it as much as you can until it's not doable.