Dallas Fort Worth New investor

[Sipo Thao]

Hey guys, I recently sold my business and looking to go full time into real estate.  I have very limited experience but just seeing if there are any opportunities out there for me to jump on.  I just started 5 months ago...so still learning everyday.

My experience:

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4 plex in mansfield - Purchased via a pocket deal from real estate agent.  Purchased at $180k, appraised at $210k.  Ive had offers to buy it for $260k but will hold onto it.  

How i purchased this one:  Since im unemployed, there is no way a bank would finance me.  I brought my brother in on the deal and his name is on the loan with myself as co-borrower.  I provided down payment and receive 100% of the cashflow.

Rents $2900 total . $1200 cashflow.   

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SFR in Mesquite - I hustled online and called around to finally land this deal. Purchased at $55k, needs $10k in repair to get rent ready, arv is $110k.

Financing:  So i got this one under contract by just talking with the seller and offering her a cash price.  I then asked her if she needed more time to close and she said yes...so I asked her if I could finance with a local bank. I called every bank in Denton, Texas and begged them to finance me (Unemployed, no tax returns), and finally one banker recognized my name from a previous retail business that i opened...luckily my name is unique and easy to remember.  The banker took me out to lunch one day and I told him my goals, cashflow $10k/month, $10 million net worth in 10 years.  The banker just chuckled.

After lunch, I get a call from him the next morning...he decided to drive an hour to view the property in mesquite and approves of it.  After a week of emailing back and forth and fumbling up on ALL of paperwork...i will close on the home by august.  This deal has been an eye opener, ive made a new friend at the bank, proved to my peers that you can get financed no matter what your situation is, the amount of knowledge i gained from this one deal is probably equal to reading a years worth of info on this forum.  Anyways...

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My yearly goal is to acquire 5 units per year minimum, but the reason for this post is to see if there is anyone out there would like to work together one day.

-Sipo Thao