Successful experience sharing

[Brandon Zeng]

Dear all, I have been stuck on my 1st investment property for a while. I have been working with my realtor to source SFH for several months. Either the properties I am satisfied with went too fast or my realtor recommend me the low coc return ‘nice’ home (1-2% coc return）. He is a nice guy but i guess he is too conservative. I told him for me cash flow first and then appreciation, but things still go on the same track. Could you share how did you make your first successful case as a foreigner and what’s the tricks to commute with realtor? Appreciate it in advance.

[Bruce Lynn]

@Brandon Zeng   one is to change lenders who can do it in 30.   You may have a tough time in many cases getting seller to wait for 60.  Sometimes it might work, but often it won't.  Faster you can close the stronger your offers will be.

Are you putting down 30%.

Especially in Dallas-DFW area you have to be really careful with wholesale.  I think I am on most of the bigger wholesaler lists and really haven't seen a deal in 2-3-4 years I don't think that came through on the blasts.

So I don't think it is up to me what COC is acceptable....it is up to you. Everyone is different and has different options.

Everyone has different risk tolerances...different headache tolerances.

You can probably improve your COC by either going to older properties in South Dallas, South Fort Worth or going more rural....some of the smaller cities just outside the big circle around DFW, but that does add risk....pretty much back to basic economics.... higher return = higher risk..... lower return = lower risk. Smaller cities might be places like Gainesville or Decatur, Bowie, Waxahachie, Midlothian, Aubrey, Collinsville, Whiteright, Bonham. That might or might not be an option for you.