All Forum Posts by: Sarah Hale

Please don't use LegalZoom, if you are going to set up an entity, I highly recommend doing it through a lawyer. My husband and I set up an LLC in Texas, and we had an operating agreement created, even though we are doing a 50/50 split. It makes working with other companies easier as well.

A really valuable lesson I learned recently was the difference between Line of Credit and Loans. My parents always warned me about credit debt, but they never mentioned that when used properly, it can help you out a lot. One of the differences that should be mentioned is a loan is amortized and credit is simple interest. Just because you can afford the monthly payment on a home loan, doesn't mean you can save money when the interest you pay in the end is almost the same amount as the principal. Oh, and that if you do have a loan, pay extra to the principal so you are not paying so much in interest. I wish I learned this a lot sooner in life.

Also some pricing, sorry about that. The tool I was using cost $124 a month for deal analysis and the flipcomp.com service, which gave me no good comps and no leads. Now that I have the Pro membership for BiggerPockets ($290 annually I believe), there's no point in paying for the $124 for the deal analysis, and the $89 fee for Propelio will give you access to comps and 4 lead lists. So that is why I thought it was worth while. 

Hey @Charles Trussell, I just signed up for Propelio's 7 day free trial. I was using another investor tool, but the comps it gave me did not give me the sold price, and whenever I found a property and had a real estate agent look up the comps, there was more available from the MLS than what flipcomp.com was giving me. I decided to give Propelio a try, since the leads they give you are in addition to the membership instead of having to pay additional fees to the other investor tool I was using. I'll keep you posted on how it works for me!

Amazing job @Kami S., the house looks wonderful! Now go do more! :D

Hey BP,

I was curious if anyone had luck in the Little Elm area or around it. Since Dallas is getting more competitive, I'm thinking about moving out to the little towns on the outskirts of the city. I know a friend of mine is finding a lot of deals in the DeSoto, so I am curious if investors around the city are having better luck.

Thanks for your help!

@Josh James my partner has several C-neighborhood rental properties that he would like to sell, that's why I was curious if putting an ad in the newspaper would help market in those areas. 

@Amber Stevens, personally for me, when approaching to make an offer, you should be able to look up the property on the County Appraisal District. It'll give you the name of the owner and their address, if it's out of town or state, that should be an indicator that the property you are looking at is a rental. 

@Mindy Jensen, thanks for the information! I will definitely consider this as a way to generate leads :) 

I am looking at ways to market some houses after I'm done flipping them, and was curious if anyone had luck putting an ad in the local newspaper, Coffee News or Greensheets? The area I'm looking at is around Sulphur Springs, Wichita Falls, or Bonham, TX. I'm trying to target investors, but I will also sell to individuals as well. Do you think this would be a good way to advertise in the smaller markets?