Recently moved to Frisco!

[Jon Benson]

Hello everyone! I recently moved here from southern Arkansas. Dallas is quite the change in market for me compared to small town Arkansas. I have been studying real estate investment for a few months now and am looking forward to getting to work in the DFW area. So far I joined the Dallas REIA and have been involved with The Colony Chamber of Commerce (I work for the chambers president) and have attended the Most recent Texas Legends Networking event. I am interested in wholesaling, flipping and buy and hold. I have 5 plus years experience remodeling historic homes for an investor in Arkansas. If there's anyone that can lend some advice to investing in the metroplex please feel free to share! I look forward to working with y'all! Thank you

[Michael Lee]

Hello and welcome to BP!  I am 59 years old and I was born in Dallas Texas.i used to go up Preston Road to our place in Gunter.  When I was a teenager Frico was nothing is the same any more. I was lucky to have a father at that age that could afford that place in Gunter with a house on it.  We don't own that any more because my father was going through some bad times then but we had that place for about 15 years and we had a lot of keg parties up there.  Back to your business.  

This is a huge area to be in and there is every kind of real estate to invest in.  Just do what is average for that maket you selected.  Do not try to do everything yourself.  Do not cut any corners to make something look better.  Always remember to do a math analysis and try to look at the prospective property before you make an offer on it or at least have a clause in the sales contract that will allow you some time (about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.

Get a lender loan mortgage letter that tells anybody how much time it's going to take to get the loan in place and the maximum loan amount for you. I went to college back when it was affordable, not that it is mandatory, and I got a degree in business that emphasized real estate.  Since I was in Texas and planned on staying there, I found out that I was qualified to take the real estate broker test, so I took the test and got the license but I never used that full time.

I kept that license active for about 30 years.  I did close a few property deals for other people.  Regardless of what I had, I felt more comfortable with the construction business.  I have been in the construction business for since I was 17 including those college years doing all types of residential and commercial work.

My father has been buying and selling real estate (not many houses) for about 45 years and he has taught me a little bit.  As soon as you close on an property, get an insurance policy that will protect you if three is a loss.  As soon as you can comfortably do it.  Also, after the marriage celebration, have the locks chabged .  If the locks you took off are still in good shape, just install them at another address.  If you think I could help you with anything please contact me through BP at any time .  Good luck to you!