All Forum Posts by: Carlos Collier

1. Obtain broker/salesman licensure - because it makes it easier to collect a fee for putting a deal together and for the basic education taking the course

2. Supplement that education by obtaining a “diploma, certificate, degree” from a major college

3. Learn everything possible about property with environmental concerns, especially about problems easily/inexpensively correctable.

4. SPECIALIZE in properties with easily correctable environmental issues. When sufficiently knowledgeable and experienced, make VERY VERY LOW offers on these properties. When able to purchase one for a very low price, spend the relatively small amount necessary to get a “clean” rating, and sell the property for maximum value.

This will take many offers, and persistence. In the meantime you become the “expert” in environmental issues property, and earn a good living brokering these deals with referrals coming at you from all directions. In turn you refer anything else coming your way to specialists in that subcategory.

At a minimum within 2 years you should be earning $200k + annually from brokerage activities and $250k + annually from “purchase, cure env problem, sell”.

Within 5 years total net should be $1 million+ annually.

I love your idea of educating yourself through legit channels instead of going through unknown routes with gurus and such. You know you’re getting quality information that stands the test of time.

I’m also a big fan of reading any book you can get your hands on related to real estate investing. Some are better than others, obviously, but you can gain so much knowledge in just a few hours time!

1 Vote

I've been using Dealcheck.io to do deal analysis but have been hearing a lot about Backflip recently. I'll have to check it out!

1 Vote

Grand Rapids, Michigan

Great conversation! I've also been thinking of using a HELOC to acquire our next investment property, likely as owner occupied. These are good things to think about!

0 Votes

Pittsburgh, Pennsylvania

I'm glad to hear the BRRRR strategy is alive and kicking as that what I'm currently trying to do!

1 Vote

Market fundamentals to consider: population growth, average income, median home price and average rent, crime rate. Good sources to consider would be FRED and NeighborhoodScout.com.

The way I find my team is usually through referrals. Agents and property managers are easy to find on BP. They have been invaluable in helping me round out the rest of my team.

Good luck on the journey!

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Tampa, Florida

Thanks for the write-up, Stepan! Lots of good information.

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Phoenix, Arizona

Foundation issues can definitely be scary! I'd love to hear how this plays out as well.

2 Votes

I'd definitely look for networking opportunities in your area to meet like minded individuals. Try meetup.com or google your local real estate investing groups.

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Hey Chris, this sound like an awesome addition to a tool set. I've been using Dealcheck.io to do my deal analysis, but would be interested in hearing more about what you used to build your tool, or even getting hands on with something similar of possible! :)

0 Votes

Austin, Texas

All Forum Posts by: Carlos Collier

Carlos Collier has started 0 posts and replied 15 times.

Post: Umbrella Policy for Flipping LLC

Post: How I Would try to Make My Fortune in Real Estate if I Were 22 Instead of 72

Post: The Backflip App

Post: Should I get a cash out refi to buy more property?

Post: Thinking a lot about the BRRRR strategy lately... 🔄🏡

Post: Build a Single-Family Portfolio or Go Straight to Multifamily? 🤔

Post: Why Investing in Phoenix Area Fix and Flips is an Opportunity You Don’t Want to Miss

Post: Foundation Issues! New to investment properties

Post: New and willing to help

Post: Built an AI Deal Analysis Tool for Fun