REI Nation Property #4 - 7320 Marrs, TX - Thanks REI Nation!

[Christopher Stevens]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $83,700

My first TX property! I'm excited to invest in a TX property since the Dallas area is booming, and it's close to AT&T stadium. Plus, it's on a corner and REI Nation did another amazing job with the rehab. Thanks, REI Nation! This is #4! I can't wait get to #5+

What made you interested in investing in this type of deal?

The price was right, REI Nation offered management fee concessions, REI paid down the rate, and the rehad work was spectacular, as usual.

How did you find this deal and how did you negotiate it?

REI Nation! They're simply the BEST!

How did you finance this deal?

Guild Mortgage - 30% down with a 5.75 rate. Fees were reasonable.

How did you add value to the deal?

I put 30% down to reduce risk and create more cash flow.

What was the outcome?

I was able to invest in the Fort Worth/Dallas area! I love this area, and I'm excited to now own a property near AT&T Stadium.

Lessons learned? Challenges?

Taxes are high in TX with real estate, so put more money down to create some cash flow. Appreciation should be HUGE for this property over time. Time will tell.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you want to get into real estate investing, consider REI Nation. They're amazing to work with, and their property management (PPMG) is exceptional. I look forward to MANY more deals and years with REI Nation/PPMG. Thank you, REI Nation!

[Chris Clothier]

@Christopher Stevens

I appreciate your sharing your experiences so far.  I believe our team will continue to meet the level of service you expect in the future, but should you need anything or have an issue, please reach out.  Our team is always available.  Best of luck as you move forward and I look forward to finding #5 for you soon!

best - Chris
 

[Christopher Stevens]

Thanks Chris! Sadly, I might have to wait until early 2025 for #5, as my funds have dwindled from purchasing 1-4. Still, we appreciate you and the entire REI team for your support and excellent service.

[Chris Clothier]

Quote from @Christopher Stevens:

Thanks Chris! Sadly, I might have to wait until early 2025 for #5, as my funds have dwindled from purchasing 1-4. Still, we appreciate you and the entire REI team for your support and excellent service.

 "Soon" is the operative word!  The simple fact that you want to continue to build with us and add to your portfolio is a humbling compliment.  2025 works great for us and we will be here for you when you're ready.

[Jaye Seay]

Quote from @Christopher Stevens:

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $83,700

My first TX property! I'm excited to invest in a TX property since the Dallas area is booming, and it's close to AT&T stadium. Plus, it's on a corner and REI Nation did another amazing job with the rehab. Thanks, REI Nation! This is #4! I can't wait get to #5+

What made you interested in investing in this type of deal?

The price was right, REI Nation offered management fee concessions, REI paid down the rate, and the rehad work was spectacular, as usual.

How did you find this deal and how did you negotiate it?

REI Nation! They're simply the BEST!

How did you finance this deal?

Guild Mortgage - 30% down with a 5.75 rate. Fees were reasonable.

How did you add value to the deal?

I put 30% down to reduce risk and create more cash flow.

What was the outcome?

I was able to invest in the Fort Worth/Dallas area! I love this area, and I'm excited to now own a property near AT&T Stadium.

Lessons learned? Challenges?

Taxes are high in TX with real estate, so put more money down to create some cash flow. Appreciation should be HUGE for this property over time. Time will tell.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you want to get into real estate investing, consider REI Nation. They're amazing to work with, and their property management (PPMG) is exceptional. I look forward to MANY more deals and years with REI Nation/PPMG. Thank you, REI Nation!

Congratulations on rental #4. What is your cash flow in dollars on this one? 

[Christopher Stevens]

Thank you! 

The current cash flow is only about $200 because I have management fee concessions. Those will get used up in about 18-24 months. Depending on how much rent has gone up (after the concessions), if I don't refinance, the cash flow will be about $50-$100 per month. If I can refi at the same rate or lower, that $50-$100 could be double or more. And if rents continue to increase in the area, the cash flow could be closer to $300 per month if I refi in about 2 years. The appreciation at this location should be high over the next 2 years.

Thanks for asking! I look forward to seeing how this property performs compared to the properties in AR. I suspect the appreciation on the TX property will outperform the AR properties. Only time will tell:-). 

[Kevin Lee]

Hi there! I was wondering how everything has been on your end?  Funny, IIRC, I believe seeing this exact property as I've been browsing their site for quite some time now.

[Christopher Stevens]

Hi Kevin, 

This property has been one of my best so far. It's not cash-flowing the most, but the renter has paid on time, and it's been smooth sailing. Hopefully, it stays that way since I've had a lot of challenges with all my properties in Arkansas. Let's just say I won't be buying in AR again anytime soon, most likely. That's mostly because I don't want to be too heavily concentrated in one area, but partially because it's been rough. One was an eviction, and the other was tenants leaving in the middle of a lease. Plus, there was lots of damage in a short period of time from those instances.

That's okay because I have great support from my property management company, PPMG. Without them, I don't know what I'd do.

Good luck with your portfolio. I'll be completing a book (later this month) titled Turnkey Real Estate Investing. When it's done, if you send me your email, I'll send you a link to where, for a limited time, you can get a digital copy for free. I want to help as many people as possible to get to where I am and beyond.

Thank you for posting. 

Christopher

[Kevin Lee]

Thanks so much for getting back to me!  Good luck with your journey!

[Christopher Stevens]

Quote from @Kevin Lee:

Thanks so much for getting back to me!  Good luck with your journey!

Likewise! Keep me posted on your progress. I love to see what others are doing and what’s working for them. We can all work together.