All Forum Posts by: Tyrone Alcorn

I'm currently looking in the Killeen area

Anyone have any contractors they would recommend in the North Austin to Waco, Tx area they would recommend

@Andrew Postell

Really appreciate your advice. I'm looking forward to meeting some folk in the RR area RE meet up.

Hey everyone, located in the Central Texas area with funding secured and looking to get started with BRRRR or fix and flip depending on how the numbers work out. Working with 100k to get started. Read numberous articles, books, and videos but just a little unsure now that I'm looking at properties that need a little TLC

So far, my outlooks is: 

- Find potential properties, research possible comps that sold in the area. (I currently have an agent, should I use them to assist with comps and is that common ask of a agent? Learning on the fly how best to utilize my agent so feel free to share any advice. So far, they've just be helpful at giving me access to the MLS)

- Using the 70% rule when estimating maximum allowable offer. I'm expecting to pay 25% down or if I can find a property low enough (50k or less) I could just buy it outright, any thoughts? 

- Key Items to look at with potential BRRR properties I've learned: foundations, roof, HVAC, floors (are there any other major items I'm missing?)

My questions so far: 

                     Should I get a general contractor? If so, at what stage should I begin looking for a contractor? I have very little                           knowledge about pricing repairs, although I don't mind youtubing and learning, is that best use of my time? 

                     With the end in mind, I'm thinking about how long the potential property will take to sale, so I'm thinking I can ask                         my agent what are typical length of days on the market house types I'm looking at take to sale, is that a realistic                             ask? Are there any other questions you normally have in mind with thinking about the after rehab phase? 

Sorry for the long post but thank in advance for any assistance you can lend and, once again, if anyone is open to providing mentorship tha twould be great. I'm even open to partnering on a deal as a way to learn while gaining on the job training so to speak.

Best Regards

I have around 20 grand in my IRA and it just hit me the other day that I could leverage this money to expedite growth while getting into real estate.

Looking for thoughts, suggestions, and/or mentorship with this as this is my first time dealing with real estate.

Should I partner with someone to get a multifamily home?

Or

Use my 20k to be a hard money lender?

I'm all ears.

Thanks!

New to the Austin,Tx area and I'm wondering if anyone is using an attorney to close and if so what's the average price and do you have any recommendations?

Hey Carina, great to meet you. I have just the guy. @Dan Burstain may be able to help. 

@David Gray

Welcome to Austin David! I'm new to the area too but I live right outside of northern Austin. I'm pretty new to the investing game but I can definitely tell this market is still on the rise. Because I work in downtown Austin, I'm looking to invest in a duplex but majority of what you see doesn't fit the 1% rule however, areas south and north of Austin seem to be a hotbed of opportunity. Seems like south more most likely because its closer to San Antonio. Are you looking to buy and hold?

@Doug Watts What date and time are you having this?