All Forum Posts by: Tyler Bains

I would highly recommend that you take a few courses on wholesaling to get a thorough understanding. I would also always encourage having ethics when approaching a deal. If it makes more sense for them to list then have a relationship with an agent to refer to. Don’t be a shark. You can make great deals while being kind and ethical.

There are a ton of YouTube videos and a ton of courses. Jump in and never look back!

I see you have been advised to house hack but in a rural are you are having trouble. 

Is there anything with an efficiency that you could get into? Have you thought about door knocking properties that you find interesting?

Is there an opportunity to buy in a neighboring town or is the distance too far?

Hey man shoot me a text or PM and I can help you out. 

I am in Lubbock, Texas so I always recommend Lubbock! You can find great deals here both SFR and Multi-family. Message me if you have questions.

This is what I would caution. Cap rate does not always mean good CoC ROI. In commercial property Cap rate is heavily analyzed but in SFR it can give you a false sense of growth. I would break down the actual CoC ROI for the properties and see if it still looks like a good investment. If it does I would recommend a portfolio over individual SFRs every day of the week.

I agree with everyone about that you are in an amazing position at 21. I would still suggest you look a leveraging OR House Hacking (buy a multi and live in a unit). I think house hacking could leave you in a great spot, use only 1 of your 10 conventional loans, and you remain independent in a place YOU own.

Dive into the education tab on BP and read everything you can get your hands on. Brandon has a ton of great videos and podcasts related to this exact topic.

My question is what company did you get the warranty through and what tier of plan did you purchase? I think it CAN make sense depending on the company and plan but again as stated above the warranty is always structured so they win. What concerned you and sparked the interest in purchasing the warranty? 

I think it's more a question of what deals can you find vs SFR or Multi. You can find great deals with each and crap deals with each. What are you seeing for purchase to CoCROI? How are the properties metered to determine actual cash flow? How would you have to structure a loan? These are the questions that break down deal vs deal.

How is your market currently?

I personally like Launch Control for skip tracing. You get a list then load into launch control. It works really well.

I would dive into everything you can under the education tab. This website is FULL of information. I would also highly recommend you listen to the BP podcasts and webinars. I would read every real estate investing book you can (BP has great ones) and practice making deals and projections.

What I mean by practice is find local deals and analyze them without the intention to purchase. Estimate out repairs, look at Cap rate and cash on cash, estimate loan terms, etc. This will give you a good feel and prepare you for your first deal.