Aspiring RE Investor from Dallas, Texas

Aspiring RE Investor from Dallas, Texas

Dallas, TX · Member since 2017 · 29 posts · 14 votes

Hey ladies and gents, my name is Treivor Cashion and I'm currently living in the beautiful Dallas, Texas area! 

A little bit about me, I'm originally from College Station, but I moved here when I started college at the University of Dallas in Irving. I recently graduated in May 2017 with a business degree and I'm currently at the same university taking grad classes to receive my MS in Finance and should be done with that in August 2019. Near the end of senior year in college, I started talking with a buddy of mine about investing in general. We'd all seen Shark Tank and always thought it would be awesome to learn how to make our money make money haha so I started reading up on sites like Investopedia, NerdWallet and similar sites like that on personal finance, investing and how to become financially free. Through messing around like this on the internet, I stumbled across Bigger Pockets. More so than stocks, bonds or any other marketable security, the idea of owning something tangible and real and finding creative ways to make properties cash flow struck me as more exciting than the movies I'd seen about Wall Street. While I still do want to self-manage my own marketable securities portfolio, the more I listened to the BP Podcast and read the articles and blogs, the more I was drawn to Real Estate Investing. The idea of owning my own portfolio of properties, searching out creative financing, finding ways to add value to homes, provide a wonderful place to live to tenants and receiving residual income while doing it? Sounded like much more satisfying work than just growing wealth on paper through securities. Anyway, I don't want to ramble. Here's where I'm currently at in my RE investing journey...

My goal is to buy & hold (and maybe flip, once I build enough equity) small multi-family properties in the Dallas or College Station area, for the purpose of long-term monthly cash flow to become financially independent by the time I'm 30 years old (currently 22). I listened to a BP podcast a couple months back on the many opportunities that small multi-family properties provide and ever since I've been obsessed with learning about how to find, finance, close, renovate, manage and profit from small multi-family properties. I've talked about it with my girlfriend, who I've been dating for over a year now, and we're planning on getting married. Haven't proposed yet, but the money to buy a ring is starting to build up in the bank! :D anyway, I showed her the theory and numbers behind the concept of "house hacking" and once I discussed it thoroughly with her, she was on board! So now I am currently in the process of educating myself on REI (through books, podcasts, this forum and searching my local markets) and saving capital for my first investment. I've read the vast majority of articles on here, the Beginners Guide and I'm in the process of reading Rich Dad Poor Dad and Cashflow Quadrant, with the goal of reading one book on REI every two weeks. I'm also planning on posting on this forum at least once a week, to learn more from you guys and stay active in this awesome community that Josh and Brandon have put together. I'm also working a full time job while taking grad classes, and saving around $500-750 a month to put away for my first multi-family property. So anyway, that's where I'm at...can't wait to meet and network with some investors on here! I have about 6 months of financial analysis work experience with the bank I'm currently employed at. Thankfully, I've gotten the chance to analyze pro-formas and current properties in and around the Dallas/greater Texas area, so I'm getting some experience in that respect, but I'm looking every day for the next best thing! Looking forward to what the future provides!

~Treivor

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Arlington, TX · Member since 2015 · 68 posts · 18 votes
8y

@Treivor Cashion Realtor in the DFW area (focus in the mid-cities) Let me know if you need anything, always glad to help!

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  • Rental Property Investor · Oakland, CA · Member since 2016 · 602 posts · 250 votes
    8y

    Sounds amazing @Treivor Cashion! Welcome to BP! Please feel free to reach out if you have any questions! 

  • Dallas, TX · Member since 2017 · 29 posts · 14 votes
    8y

    Thanks @Bryan Pham, I will definetly do that sometime soon in the future! The more I read and "educate" myself, the more I feel like I don't know anything, so I'll have some questions for you I'm sure haha

  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    8y

    Welcome to BiggerPockets Treivor and best of luck investing!

  • Dan BeaulieuPro Member
    Lender · Knoxville, Tennessee (TN) · Member since 2016 · 426 posts · 671 votes
    8y

    Great Stuff here @Treivor Cashion . Does your Girlfriend really want a ring? It's basically a down payment! 

    Anyways, based on your background and level of motivation, I can tell you are going to crush it. Good luck! 

  • Rental Property Investor · Oakland, CA · Member since 2016 · 602 posts · 250 votes
    8y

    Awesome! Good luck with your investing! 

  • Arlington, TX · Member since 2015 · 68 posts · 18 votes
    8y

    @Treivor Cashion Realtor in the DFW area (focus in the mid-cities) Let me know if you need anything, always glad to help!

  • Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    8y

    @Treivor Cashion , welcome!    I took a pretty similar educational path, but wish I had the foresight to become interested in RE so early in my life/career.   Oh well, better late than never!   I love multi-family, it's changed my life and will continue to do so!

  • Investor · Palos Verdes Peninsula, CA · Member since 2017 · 115 posts · 46 votes
    8y

    @Treivor Cashion welcome to BP!  It has everything you need from free online educational videos to connecting to other investors, you can't go wrong on this site! You came to the right place.  All the best success to you!

  • Memphis, TN · Member since 2016 · 9 posts · 3 votes
    8y

    Welcome to BP Trevor!!!  Best wishes in investing, sounds like you're on the right track.  My husband and I are right there with you, saving monthly and learning as much as possible along the way.  We may run into each other in the DFW area.  We are still in Memphis right now, but moving to Dallas this summer for new jobs and to be closer to family.  

  • Dallas, TX · Member since 2017 · 29 posts · 14 votes
    8y

    @Dan Beaulieu haha hey man, if you want to try and convince her otherwise go ahead and be my guest...I don't know how much experience you have dealing with European girls, but maybe you'll be more successful than I've been for the past year lol thank you for the kind words though!

    @William Corcoran yes sir, I most certainly will! I definitely will have some questions about the general DFW area, and maybe once I build enough capital/knowledge base we could work on something that would help us both out!

    @Chris Soignier glad to hear it Chris, I hope I have half as much success as you once I start getting out there and making some deals!

    @Angela Fadahunsi hey, that's awesome to hear Angela! Dallas is an awesome place, lots of great opportunities and fun places to visit! Best of luck to you and your husband during your move!

  • Arlington, TX · Member since 2015 · 68 posts · 18 votes
    8y

    @Treivor Cashion  Just let me know!  

  • Lender · Irving, TX · Member since 2012 · 175 posts · 76 votes
    8y

    @Treivor Cashion That plan is completely possible, my wife and I started purchasing SFR's about 4 years ago and after we purchase the next two properties in the next 2-3 months we will have enough cashflow to cover our monthly living expenses.

  • Dallas, TX · Member since 2017 · 29 posts · 14 votes
    8y
    Originally posted by @Jeff Richardson:

    @Treivor Cashion That plan is completely possible, my wife and I started purchasing SFR's about 4 years ago and after we purchase the next two properties in the next 2-3 months we will have enough cashflow to cover our monthly living expenses.

    Wow @Jeff Richardson, what an amazing accomplishment! Congrats to you and your wife and best of luck closing on those last two properties. Enjoy the financial freedom, I want to be where you are in a few years! Any advice for a young guy just starting out with REI and thinking about getting married? I'm sure you and your wife have had many talks about this whole REI thing, cause I know my girlfriend is sure skeptical about it, especially considering what happened less than 10 years ago in 2008 lol

  • Lender · Irving, TX · Member since 2012 · 175 posts · 76 votes
    8y

    @Treivor Cashion She has to be able to believe that it's the right thing for your family and that it works. You are probably currently surrounded by people who have either never owned real estate for investment purposes or were uneducated on how to run real estate as an investment. That means she has no one to look to and see success, and all she has is fears and questions that haven't been answered. My wife and I took a two day class together before we were married, and she went from thinking that real estate was a lot of work and problems to seeing that it was the most efficient vehicle to build wealth. After attending the class, we surrounded ourselves with other investors who had not only surpassed what our goals were, they surpassed what we thought was possible i.e. owning 8 apartment complexes and spending a few hours a month devoting time on them. My wife is now the biggest proponent for our growth. 

  • Dallas, TX · Member since 2017 · 29 posts · 14 votes
    8y
    Originally posted by @Jeff Richardson:

    @Treivor Cashion She has to be able to believe that it's the right thing for your family and that it works. You are probably currently surrounded by people who have either never owned real estate for investment purposes or were uneducated on how to run real estate as an investment. That means she has no one to look to and see success, and all she has is fears and questions that haven't been answered. My wife and I took a two day class together before we were married, and she went from thinking that real estate was a lot of work and problems to seeing that it was the most efficient vehicle to build wealth. After attending the class, we surrounded ourselves with other investors who had not only surpassed what our goals were, they surpassed what we thought was possible i.e. owning 8 apartment complexes and spending a few hours a month devoting time on them. My wife is now the biggest proponent for our growth. 

    This is some great insight, I let my girlfriend read this and she just kind of smiled and nodded that you were spot on. I have no one in my family or close circle of friends that do a lot of real estate investing, and with the 2008 financial market crash still on everyone's mind when you mention real estate, everyone I talk to is more skeptical than excited, unfortunately. I think the part you mentioned about surrounding yourself with others who have not only achieved what you wanted to achieve, but surpassed it and are still going, is great advice. I'm in the process of reaching out to extended friends and family to get into talks with people who are in to the real estate industry and have flourished at it, specifically with MF properties. I've already started a list and will be reaching out to them in the next couple weeks! But more so than any other investment, I believe you when you say that it's the most efficient vehicle to building wealth...and that's what I want to do over the next 5, 10, 30 years to provide the best possible life for my future wife and kids, along with my close family and friends.

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