All Forum Posts by: Rick Pozos

I am not a GURU lover. I dont buy weekend classes for $199 or $1999. You can learn everything you need to about a subject here on BP for free. Dont give those guys money for their classes. Network with some people in your area or go to another area close to you for REI meetings. You can literally learn from the experts that are doing deals everyday.

Pick up the phone and call some people from the area that you want to invest in. If you want to be in Houston, find some BP people from Houston and ask them how many deals they are doing, experience, etc.  Interview them. Then you can invest with them, Be their hard money lender, or just hang out with them virtually, asking questions along their journey.  This would be a better basis for a partnership, working together.

I can only answer your question by saying that I dont think any of these guys are worth their hundreds or even thousands of $$.

I found a copy of the Texas  property code. http://www.texaspropertycode.org/chapter-92-texas-...

I did not see anything that said the landlord has to have heat or a/c. Of course, I would not rent there.  I believe it would be the agreement that the tenant and landlord have.  I am sure that the rent would reflect the agreement.

Small electric heaters are used when there are window units in place.  A window a/c that has heat is usually quite a bit more expensive, that is why the little electric units are used.  But Remember, this is San Antonio. I am 46 and I have seen snow here probably 4 times in my life. And even then, it was only for the day. Never two days in a row.

Welcome fellow San Antonian!!

Network at the real estate investor groups. It sounds like you already know what a deal looks like. Good job, just keep going.

This would be a good deal if you could get it with her leaving the mortgage in place(sub-to or wrap around mortgage). Investors would like this type of deal, but the down would have to be under 10k. If she is willing to take less, perhaps you could make a few thousand. You would have to get her to realize that she is losing money and you can get her cash now.

I wish it was that easy to become the mogul. There is a lot of hard work, dedication, education and perseverance that is involved. Keep learning and working hard and success will definitely come your way.

There is a bunch of information here that will help you on your journey. Connect with the local people, and get involved in some REIAs.

I have worked with Quest IRA. They have outstanding informational and networking mixers. They even have an informational CRUISE. Lots of classes to learn and mix with lenders and investors. Great knowledgeable people answer your questions immediately. I do NOT work for them in any way, just great folks.

@Nathan Sigars and @David Pena, the group I have is for all experience levels. It will be the first Wednesday of the month. Last one was at Luby's on Fredricksburg rd. I think the same time and place for October. Look up Local Real Estate Networking in the forums for details.

Hey @Glenn Zweig,

You really have to have a deal on the table before someone can tell you if it is a good deal or not. I can tell you that an investor putting all the cash and getting 50%IRR is pretty good, but once I know the details of the situatuation, I might change my mind. The investor has to know the property location, what is the money going to, and so many more details.

When you have a property in mind and almost have a contract, then bring it here to ask questions about it.

Hey @Tim Macy,

I am a member of Alamo Investors and at the next meeting will be a member of SAREIA. There is another group from the folks in Austin, but they seem to be a little too oriented to rookies. I was a member with them for a year, but did not renew. AIA and SARIEA are the bigger ones and for good reason. 

Networking with buyers, lenders, title people, etc is just part of the game. It is also just a cost that has to be paid. Just jump in and be a part of it. $120 or so per year is not exorbitant to be around a bunch of other like minded people. A few hours a month and a few hundred dollars per year is not a huge commitment that you cant just be a part of a couple and see how it goes.

There are a few free groups in town also. I even started one this month. It was great. There were 10 people just chatting about real estate. 

When we are in a better "Sellers market"like now, the deals are a little harder to find. You might have to get off of the computer and do some driving for $$ or maybe do some marketing to people who really, really need to get out of their house. There are probably some good MLS deals, but I bet they go really quick. Or maybe check out properties that are on the MLS for 200+ days. I bet they are ready to lower the price.