All Forum Posts by: Ronnie Godfrey

@Dylan Whitcher yes sir I sure am! Feel free to call or text me at 903 2387427 for showings and property info. I work with lots of investors and own several properties myself, so very familiar with the markets for those kinds of deals. 

@David Kuhlke, it's been my experience that local banks and CUs have a lot more flexibility in what they're able to do. National banks have too many cooks (and computers) in the kitchen, and the decision makers have no idea what's actually going on in the local markets. Plus, the relationships you can develop through local lenders are invaluable when it comes to doing future deals. They know a lot of the big players, Realtors, etc., and can point you in the right direction when you need some assistance or advice. 

@Ashley Hightower gave a great response. I'll add this about using TREC contracts: they're technically supposed to be used only by licensed agents. I've had unlicensed friends ask me about using these because they're readily available and I tell them to do so at their own risk, and CONSULT AN ATTORNEY. So unless you're licensed, or working with a licensed agent, tread lightly. I'm not sure how it would be looked upon if there were a legal issue that had to go before a court. I'm sure there's some case law somewhere, but I'm not an attorney. 

Dude, congrats on ditching those student loans! I'm jealous!

So I'm a Realtor in East Texas, and I tell anyone who comes to me about flipping this: I'm not the guy to help you. It's not that I don't want to; far from it. It's just that the market is so hot (at least here) that by the time a "flippable" house gets to the MLS, there is so little meat on the bone that it doesn't really make sense to do a fix and flip. Your market may be very different, but that's how it is here. The low-hanging fruit is in move-in ready SFRs.

That said, flipping isn't impossible--it's very possible to find the right kind of deals. But you have to be willing to do the leg work (phone calls, driving for dollars, post cards, etc.) Most established Realtors are simply too busy to go hunting for those kinds of deals. Every now and again, something falls into my lap and I'll usually shop it around to my investor friends, but it's rare for that to happen.  

For this reason, my personal investing strategy (I just started last year) has been to buy these ready-to-go houses to keep my cap-ex down for as long as possible while I cash flow and build equity. 

I say all that to say this: look for a deal where the numbers make sense, even if that means buying a move-in ready SFR. If it happens to be a flip, then that's great too! I think it's best to focus on finding a deal that makes sense in general rather than focusing on a particular kind of deal, especially in our current market. Best of luck to you, my friend!

Hey guys!

I'm a relatively new investor, although I've been a Realtor for 3 years now. (I suppose I'm relatively new at that as well--haha!) Anyway, I've been listening to the BP podcast for a good while and decided to check out the forums. I'm excited to learn from all of you, and I hope I can contribute some knowledge as well! Currently, my wife and I own 2 single family rentals, but we are acquiring more and even have an offer out on an apartment complex at the moment. 

I'm located in East Texas (my home town is Longview), so if any of you are kicking around here or Tyler, Gilmer, Kilgore, Marshall, etc., I'd love to meet you!