Investor in the DFW area

[Patrick Moody]

I have been lurking here for quite some time and have read just about every book BP has put out as well as listened to 204 unique podcasts (I will hit 205 on my drive to a seminar today since it just came out).  My wife and I have a business in California but we moved to Dallas about 3 years ago.  For the most part of those three years, I maintained a casita there to save on hotel fees.  In October, I finally moved home full time.  Now I "telecommute" as needed and make the occasional trip back to Southern California.

My wife and I both had RE licenses in California for a while, but it was not a full time job.  We did three transactions total, but it was  great learning experience.  My wife got her Texas licence, but is not active and refers any leads she gets to active agents in her brokerage.  We have done live in rehabs and moved and rented our homes in California, but I am investing full time in Texas.  I have joined most of the REIAs in the area and I am  networking with wholesalers and other investors to get started out here.  BP has been the best resource I have run across and I have learned so much.

The short term investment goals are to acquire house in the $125k ARV area in the North East DFW metroplex (definitely not interested in Fair Park). Our initial strategies focus on finding distressed properties and rehabbing them with the exit of BRRR or sell, depending on the property. We would like to fund a buy and hold portfolio using proceeds from sales. We currently have a decent bank account and will be self financing initially. I also have HML lined up and I am working on getting some connections with portfolio lenders as we move on to the buy and hold portion.

We are not really interested in doing the marketing ourselves and would be more than happy to allow wholesalers to make their fee.  This may change as we continue down this path and see what types of deals people are finding and offering.  I am very hands on and enjoy the construction aspect, so I will run our projects until I am too busy with too many projects to handle it #BPproblems :).

I look forward to connecting with people either digitally or in person.  Look for me at local REIAs or shoot me an e-mail.  If you have a property, send me the info.