Fix and Flip in Dallas

[Max McNamara]

I'm looking to flip my first house in Dallas. New to house flipping, but used to flip multifamily rental units in Los Angeles for landlords and oversee project for the landlord so I'm not totally new to the game. I'm looking to get connected to local resources. Anyone have any recommendations for any of the following:

-Local fix/flip mastermind groups or general real estate investing groups

-Reputable hard money lenders with a good reputation - ideally one that has reliable contractor references

-Fix/flip friendly contractors

-Fix/flip friendly agent that has hyper-local market knowledge of North Dallas markets

-Wholesalers worth talking to

[Bruce Lynn]

For Hard Money lenders, check with Longhorn and/or Emerald Dolphin.  I was telling one of my investor clients today if I see a preapproval letter from either of them, I always think there is a better chance of getting the deal to closing.  Don't use some unknown entity from another state that no one here knows.

I think both of these companies will shoot you straight.  They also have a ton of contacts for probably everything you need or could run into.  Also I expect that if your numbers are wrong, they'll tell you.  They can keep you out of bad deals or tell you if your numbers are wrong.  That's what I think any lender/banker should do.  It might be frustrating, but both these companies have probably seen plenty of success and plenty of failure too and they want to see you win.

Now with that said there are plenty of wholesalers in DFW that don't care if you win or not.  They will sell you a crap deal all day long and not blink an eye.  So know your own numbers and never depend on wholesalers to provide accurate repair costs or ARVs.  Some do a great job, but plenty will take your money and run.