Posted on Sep 21, 2018
Andy Williams, Founder of RECON REALTY, Co- Host of HGTV’s Flip or Flop Fort Worth is here 9/26 at 4PM ET to answer questions about real estate entrepreneurship. Questions?
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I am here to answer questions about real estate entrepreneurship, income property ownership, and how the real estate industry is an ideal way for veterans to build careers, continue to serve, and create a sustainable impact.
I am a Marine deeply rooted in Texas that has an expectation for veterans to win in America.
I maintain a simple mission filled with a bigger purpose of empowering the veteran community while navigating entrepreneurial ventures. With clear vision to be defined by the change we make – both financial and societal – mindful of the interdependence between the two.
Connect, collaborate to capitalize to create change.
I am a Marine deeply rooted in Texas that has an expectation for veterans to win in America.
I maintain a simple mission filled with a bigger purpose of empowering the veteran community while navigating entrepreneurial ventures. With clear vision to be defined by the change we make – both financial and societal – mindful of the interdependence between the two.
Connect, collaborate to capitalize to create change.
Posted 7 y ago
Responses: 15
Why do lenders in much of the country tend to shy away from VA home loans?
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Sgt Andy Williams
Lt Col John (Jack) Christensen I don’t think Linder shy away from the VA loan. I think that there is more that specialize in you should focus on those that specialize in the loan and let them earn your business.
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Do you recommend leveraging debt to get into real estate investing or buying and owning properties outright?
Sgt Andy Williams
MAJ Daren Walker I believe that each investment, each investor needs to take his own journey. Speak with the financial advisor (many veterans are in this space), become educated on the risk of buying real estate and what the investment would effect your plan. I leverage so that I can grow faster, but I also understand that real estate moves slow. So when you invest always know that you make your money when you buy; invest for the long term.
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Maj (Join to see)
I'll echo Andy's comment in that each investor must decide which strategy is best for them. Me personally, I have decided to leverage as much as possible. I've found that this enables me to grow my portfolio faster, thereby creating cash flow also at a faster rate than having to wait for the capital to buildup to purchase a property outright.
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Do you think it is a better to buy, redesign/remodel and flip houses for a return or to hold on to them as investment properties and collect rent etc?
Glad to see a Marine doing as well as you are.
Glad to see a Marine doing as well as you are.
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Sgt Andy Williams
Cpl Jeff N. That’s a good question. I started with income properties, use my cash flow to manage the debt service for flips. So I would recommend starting with income properties, rehabbing to rent. Repeat 3 times. Then try to do a flip. The principles you learn through, buying, renovating, renting, refinancing applies heavily to flipping.
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Hi Andy,
Bigger picture, what is your vision for veterans and the "Flip or Flop" entrepreneurship modal? Is this something veterans should explore? And if so, what makes us in a better position (i.e more competitive) than our civilian counterparts?
Also, for those who are looking to slowly improve and flip their home, what project would you suggest they start with that offers the most bang for their buck?
Bigger picture, what is your vision for veterans and the "Flip or Flop" entrepreneurship modal? Is this something veterans should explore? And if so, what makes us in a better position (i.e more competitive) than our civilian counterparts?
Also, for those who are looking to slowly improve and flip their home, what project would you suggest they start with that offers the most bang for their buck?
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Hi Sgt Andy Williams, thanks for joining us on RallyPoint. With the changes coming from this past year's tax reform related to "Opportunity zones," 1) do you have any experience with them and 2) can you talk about how real estate investors should think about putting money to work in these areas?
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Sgt Andy Williams
CPT David Gowel The opportunity zones are probably the most exciting thing going on real estate right now. I know enough to be dangerous. It’s shifted my business model. The bill just got passed and if you want to serve you should 100% get educated on this investment opportunity. It allows for investors to offset the capital gains, defer them in if they invest into the opportunity zone for 10 years and their return on that investment are tax-free. In the upcoming months you will see a lot of media around this revolutionary bill and this bill alone will bring much-needed capital to some of the most distressd communities across the country. I want every veteran here to take advantage of that opportunity for themselves. It’s not just real estate, it’s entrepreneurship, it’s developments, it’s true community impact.
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I've recently became interested in the home buying/renting potential that active duty/veterans alike are possible of being involved in. I have had talks with multiple people, but how can I use the VA home loan to my advantage to see some profit come my way?
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Sgt Andy Williams
SPC (Join to see) That is a great question, I recommend you first contacted a veteran VA loan specialist. But the quick answer is buy a duplex or a fourplex. Live in one unit, rent the other units out. Plan to hold it for 2 to 4 years and enjoy the benefits of passive income. Just make sure you buy me and appreciating area.
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For those who are currently paying off a home and can't get into another mortgage payment, what would be the best way to get more involved in the real estate market?
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Sgt Andy Williams
Capt Brandon Charters There are new capital and finance products for real estate investors in the market today. You are able to get approved and multiple homes, income properties, flip properties, to your LLC. The market landscape has changed over the past six years; you have access to capital. You should start a real estate business and start with one rental properties.
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Hello Sgt Williams - welcome and thanks for joining us and allowing us this opportunity to tap into you r experience in the real estate industry. My sister and I recently inherited my father's home - it's paid for and is rather new construction. We are both good financially and do not need to sell it however we are contemplating several options 1) List by owner and sell it. 2) Do some minor repairs and rent it 3) Sell and invest in another property possibly a multi-unit in a more trafficked area closer to beach or resorts. My sister currently owns (is paying for) two homes - one is a rental that her daughter is renting and for myself I just have one home. So in short what investment strategies works best in central Florida - rent sell or invest?
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Sgt Andy Williams
SPC David S. Florida is good for both flipping and renting. With your new property, get offers. Get bids. Have a realtor help run the numbers and advise.
Renting makes sense, but do you have to split the income? If so it might be better to cash out and reset. I would say; the experience of learning how to remodel is good to have; this property might be a very cheap lesson.
Renting makes sense, but do you have to split the income? If so it might be better to cash out and reset. I would say; the experience of learning how to remodel is good to have; this property might be a very cheap lesson.
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Do you need a financial background to be successful at investing income in property?
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Sgt Andy Williams
Cpl Tim Callahan No. However it is important if you’re going to invest in income properties you know what a cap rate, cash flow, and cash on cash on return are.
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Sgt Andy Williams, thanks for taking the time to share your insights. Very cool that you are focused on more than just making a dollar. There's purpose to your business. Lots of people sell get rich quick real estate concepts. Would love to hear you talk about how hard you work at your craft and what key skills someone beginning military transition should develop before they take off the uniform and start their own real estate investment company. Can you do this well as a side hustle, or do you need to go all in to compete?
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Sgt Andy Williams
LTC Steve Mannell Thank you, I am been working at this for 10 years. It is definitely a passion of mine and I will tell everyone here truly get into real estate to serve the community not just to make a quick buck. It feels good and you look back and know that you added value, and it’s also a really good way to earn a living, and it provides a lot of security for your family.
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