All Forum Posts by: Ryan Terwilliger

The misconception usually is that landlords can just fix a house and it will rent/sell for whatever the value they have set in their mind is. Buyers/renters set the market price so basically your home is in competition with the other homes in the neighborhood. The more competitive your home will be the quicker it will move. If there is less competition the more demand there should be. Of course the condition of the the home and price are still paramount. 

Just a heads up on this, investing is not a normal training class for brokers. You might have better luck with asking an experienced agent to mentor you or external learning environments such as meetups, classes and even YouTube. Remember that Real Estate agents are self-employed so it is up to you to build your business. Don't forget to educate yourself in finance, law and marketing. I was about 2 years too ate in finding a good CPA.  

What Aaron said! Wholesale Real Estate is a full time job. I think that I would look into all facets of RE before jumping in. If you are going to keep your job something a little more passive might be in order. Just a thought.

I do not specialize in that area, however I am familiar with it. We work closely with the Children's Miracle Network and I know someone that I can connect you with that is more knowledgeable. It is pretty pricey, smart. 

If you are investing out of state try a different city or state. It is a lot of work to find even one deal around here. Even the wholesale deals are thin now. If you are looking for appreciation and monthly income try again in a couple of years after we have a small correction. There is just not enough inventory right now and appraisers will not let housing prices rise unless you are doing windows, electrical and plumbing, for the most part. Fixer upper style will not work here right now and I live and work in the Cy-Fair area.

I might have a referral but it is not a recommendation. Counters and floors that are trustworthy are hard to find. I actually only have two contractors that I or clients have used that I recommend.   

Vijaianand

These comments were not directed at specific type of investor. The main point was that it is harder for a newbie that works and has a job than it used to be, that is all. There is so much free info on investing now it can make you feel like you are prepared when you are not even though it often times works out. Just an encouragement for newbies to get as much education as possible. 

The truth is newbies have a lot more to overcome right now because the market is flooded (literally and figuratively, that's a joke as I am in Houston) with buyers and investors. Prices are elevated already and all the "teachers" are saying the deals are out there just stay up all night to do research, ignore your family and quit your job to make it happen. So we at look at our options which are mainly 1. MLS , good luck. 2. Auctions IE Tax sales and foreclosures , which are being bid up to almost to market anyway and too much risk....usually. 3. Wholesalers or networking meet ups , but sellers still do not want to throw away their cash there either.

So here is my 2 cents, MORE EDUCATION. Not much is being said of the historical 20 year market cycle and how we are already at the top of it after 10 years. When will it crash? Is now really the time to buy? Should I prepare myself for when it turns? If I buy now and the market corrects will I be okay? How do appraisals and inspections affect all of this?

Food for thought!

You can do well with that in the right location such as downtown or near the hospital. In which case something attached might work better. I don't typically advise condo but your situation might be just right. There are some high rents there and usually year around. I do not have experience with that though. 

STR's? You mean SFR?