New Member Intro: Dallas

[Ryan Trobee]

Howdy all. I'm a newbie in Dallas. Haven't done my first deal but I'm trying to soak up as much as I can. Goal is to generate income through rental properties, but I'm not opposed to a flip, but that would probably be a partner situation. I wonder if the Dallas market is too hot to find good deals, but again, still doing more homework. 

I'm an estate planning and probate attorney, so I've got a great grasp over probate transactions and property law in general. Looking to meet folks in the area who have done some deals and know the market. Cheers!

-Ryan Trobee

[Bart H.]

Originally posted by @Ryan Trobee:

Howdy all. I'm a newbie in Dallas. Haven't done my first deal but I'm trying to soak up as much as I can. Goal is to generate income through rental properties, but I'm not opposed to a flip, but that would probably be a partner situation. I wonder if the Dallas market is too hot to find good deals, but again, still doing more homework. 

I'm an estate planning and probate attorney, so I've got a great grasp over probate transactions and property law in general. Looking to meet folks in the area who have done some deals and know the market. Cheers!

-Ryan Trobee

 Hey Ryan, Welcome to BP's!!!!

I am a fellow Dallasite here.  

I think good deals are out there, but the market is very competitive. my wife and I have been looking for a couple of months now for our next project.  We just lost out this weekend on 2 different properties where we had all cash and bid over asking.  

It seems to me you have a great natural advantage in real estate. If I were you I would focus on properties that had complicated probate issues, I suspect you could identify some market inefficiencies because you know probate law.

My wife and I just finished up our first flip a few months ago, we did that after gaining some experience doing light rehab in a couple of our rentals. Unless you have a construction background, or have contacts in the trades, my advice would be to start slow with a couple of rentals.

There are a couple of meetup groups that I personally attend, @Dana Chun runs one every month at the Richardson Fox and Hound, and @Nick Hughes runs one that meets at the Gingerman in Uptown.  I like both, they are both free, and there are not any sales pitches.  Just a bunch of folks meeting over a beer to talk real estate.

If I can be of any help, let me know.