Architect moving into REI in Dallas / Fort Worth

[Eric Pitts]

Hello all, I am an Architect (licensed in TX & NY) putting together a new real estate business focused on acquiring older and under-utilized properties and rehabilitating them. The goal is to scale over the next couple years to a point where we are acquiring multiple properties (residential or commercial) a year to redevelop the sites as mixed-use or residential new construction or gut-rehabs, and building a portfolio of held assets. As an Architect, I love the construction phase of a project, and see moving into Real Estate Investing as an opportunity to buy a project rather than waiting for a client to bring me work. 

The plan is to start first with residential fix-&-flips (a goal of 10 in the next year) in the Dallas / Fort Worth Area to built a cash base, a network, and experience in acquisitions & sales, before expanding to new construction or other use cases. I plan to use hard money as financing to start, but am interested in other options that may reduce holding costs. I am open to buy-&-hold (through a Brrrr strategy) for the right property and long-term financing. I currently own one rental property (a turn-key condo in San Diego, CA) that has preformed very well.

I am a native to the DFW area and graduate of UT Arlington, but currently live in New York City, so am looking to start this business as semi-remote investor. All of my family live in Texas, and my aging parents just moved to Sulfur Springs outside Dallas, so this new venture is both a great opportunity to jump into the DFW real estate market, and to set down roots closer to home.

BP has been super helpful already with the many tools, articles, and forums to learn from! I am interested to network with investors, agents, wholesalers & other real estate professionals in the DFW area. Although my knowledge of due diligence & construction are strong, I know I have much to learn on the deal finding and financing side of real estate, and am curious to learn from those more experienced.

Thanks for the warm welcomes :)