New Member From Texas

[Steven Payne]

Hey, Guys! I'm currently looking to build wealth through buy and hold deals.  I have bought 3 tax sale properties already and I'm currently wanting to begin investing in  multiplex housing in Bosque or McLennan County.  If it's a great deal I would consider the Dallas/Ft. Worth or Austin areas.

[Michael Lee]

Hello and welcome to this website!  It sounds like you have gotten off to a good start.  Since the inventory is mostly low in the whole country, depding where you are just take your time and wait a while to have a buyer's market so be patient with the market and wait for the market to go through its cycle.   That does not mean that you cannot find good deals, it is just harder.  Right now in Daalas/Ft. Worth area houses are selling quickly and are harder to get.

Cash buyers are winning more closings right now because they can typically close faster and the owners are liking that.  That will change as the cycle runs its course.  Try to stick within an hour drive from your home.  One way you can do better is to offer good tenants an option to buy the house but have been turned down for a loan  because the loan requirements are too hard to qualify too difficult.  

If you make a loan to them you can make more money and do less mainteance because they will appreciate the house more and take care of it differently.  They might even improve the home's value that will ultimately benefit you. They will typically leave a higher down payment and typically they will leave or stay but not take advantage of the purchase.

Depending on your age and your goals it makes SFH's rentals better with your possible loan. Do not try to do everything yourself. You could use outside a Team members to do things you could give out and make you more income productive. You could even hire part time help if you systemize certain things that are not ultimately for your time.

As the cycle we are in now wares out get caught up on certain things around your office.  You could develop systems and start on tracking everything and know what you should do to build your company. Just keep going to Auctions and meet other people that might be your mentor, or coach, or partner, or just a friend you can call to help you out. You can even go to school right now and learn something or improve a current thing that you do.

I forgot to tell you some more about me.  I am 60 years old and have most of my experience in construction and a little in real estate.  Good luck to you!