New REI in the DFW Area having a hard time finding a deal

[Chad Rakestraw]

Hey there, my business partner and I have began looking for properties anywhere in the metroplex. Our ultimate goal is to buy and hold multi family or SFH, ideally with the brrr strategy. We are willing to do flips, but only for the reason to reinvest that money back into buy and holds. We are on a lot of wholesaler lists, but with their fees involved the margins seem to diminish quickly. We also dont like the idea of hard money and dont have the cash to purchase deals under 100k. We feel like a small fish in a big tank of sharks here in our home town.

We are looking into hiring a VA to begin driving for dollars and cold calling to get ahead and try and get our own off market deals but that seems overwhelming with us both having full time jobs.

I am not opposed to investing out of state because of prices rising here, but I also love the idea of investing in properties here because of the appreciation. 

I know this is a bit all over the place, but would take any advice any of you would be willing to give to us. 

Thanks ahead of time. 

[Hayden Lyon]

@Chad Rakestraw I 100% feel what you're going through. I'm definitely a small fish in a big ocean, work more than a full time W2, and have 6 month old, so time can be very limited. I have been able to find a few deals in 2020 off the MLS that have turned into successful BRRRR's though. Scouring Zillow, Realtor, MLS, etc. is not a practice that will scale quickly, but it is most definitely the easiest (and also most competitive) if one or two deals a year is what anybody is going for.

I say this because we appear to be in the same boat! Given we have limited time and sometimes limited funds, we (my wife and I) are exploring ways to source more deals. Part of that approach is to network and be very targeted in our pursuits (i.e., one zip code, one demographic, one property type, etc.). Since we dont have the time, nor the funds, to do what the larger wholesalers do, we have to figure out what we can do that will differentiate from them and still be able to compete.