All Forum Posts by: Victor Steffen

@Kiran Shilamkar Monday nights 730cst ! Would love to have you. Pm me i'll send you the meetup.com link

@Vadi Efe

Shot you a pm.

here you go @Nico Brown https://www.biggerpockets.com/...

Typical Meeting cadence looks like this:

Typical cadence is :
630-700 meet/greet and network
700-730 introductions
730-800 presentation
8-830 questions and wrap up

Believe it or not, there is a way to consistently write winning offers in Austin TX. Stop bidding and hoping to get lucky! Anson Gentry of Fairway Mortgage Company and Victor Steffen of EXP Realty outline their formula for getting your offer accepted.

Our guest speaker is Anson Gentry of Fairway Mortgage Company. Anson and his partner Brandon Vansa are experienced Loan Officers at Fairway Independent Mortgage Corporation.

We will review:

1. Price- Money talks, but in a market where everyone is bidding over asking price, how can you know where the top bids will fall?

2. Earnest Money- what is standard? How can you use this line item as a way to highlight your offer?

3. Option Fee/ Period- how to safely submit an offer with short option periods while ensuring enough time for proper due diligence and inspections. What does a competitive option fee look like?

4. Seller’s Concessions- are they even a thing anymore? YES- we’ll discuss how you can still close with seller concessions even in this white hot market.

5. Seller Temporary Leaseback- how to show good faith and a willingness to be a partner with the seller, rather than an adversary.

6. Appraisal Waivers- the risks, as well as the rewards when used responsibly.

7. Third Party Financing Addendum- One small check mark that can not be overlooked!

*insert late night infomercial line here*

8. AND SO MUCH MORE!

See y’all thursday night at 630pm TownePlace Suites in S Austin.

1003 Little Texas Ln Austin TX 78745

@Nico Brown

It’s casual event

Typical cadence is :

630-700 meet/greet and network

700-730 introductions

730-800 presentation

8-830 questions and wrap up.

We have 15-20 people there on average and we are at every stage of the REI journey. Try to add value to one person you meet there and I think you'll be very successful 👍

@Nico Brown

Thursday 630 at the towneplace suite in S Austin of I35. I just haven’t posted details yet.

Cashflow break even- If using traditional models (buy a single family home and lease it out to a single family). These do not exist unless putting 50%+ down to purchase. 

Hyper Appreciation- beyond the Austin MSA 20+% that we've seen year over year? I'd focus efforts on areas that have the ability to realize the greatest returns. It's much easier for a 250k property to go to 500k than it is for a 500k property to go to 1M. The buyer pool for 250-500k is MUCH deeper in Austin than the pool of buyers looking in Jumbo loan territroy. Larger macro shifts need to happen to deepen the high end pool these shifts take years to develop. Whereas In order for your 250k house to double in value we just need the demand to continue. No demographic shift needed. Obviously this is a hyper-simplistic view of the market but hopefully it gives a new framework to your thinking? 

Cashflow positive- Like I said, highly unlikely via traditional methods. That being said- I'm creating cash flow positive deals by using a rent by the room model. Putting 20% down to buy a 4bed 3 bath 2000sqft house under 400k and leasing out each bedroom for 800-900/ month. That's what has worked for me and my clients.

Good luck!

Austin TX is one of the country's hottest real estate markets. Capital is flowing in from San Francisco, San Diego, Los Angeles and New York in an effort to capture a piece of the budding tech scene. The market is competitive, but competition does not mean we abandon investment principles. We still believe in purchasing based on numbers. On this call several Austin TX investors will discuss how we have been able to capture double digit appreciation while cash flowing by using a Rent By the Room model. These are seasoned investors who will share the ins and outs of what makes this model successful and how you can use it to break into the Austin market without betting solely on appreciation. All attendees will have a chance to introduce themselves and what they are working on, from there the moderators will present for 30 minutes on how to make the model work and pitfalls to look out for. There will be time at the end for Q&A. Hope to see y'all there!

Join Zoom Meeting
https://zoom.us/j/99402210493

https://www.meetup.com/austin-...