DFW Lifestyles Unlimited Members

[Jimmy Wilson]

Wanted to check in with the DFW Lifestyles Unlimited members to see if you guys are seeing many opportunities in the SFH Challenge program? If one would be in acquisition mode, are you guys getting many deals with less than 30k down on the all-in for the typical LU SFH target home in the DFW market at this snapshot in time? If so, how fierce is the competition for acquiring them - amongst other Challenge program members?

I am in no way trying to conjure up any love or hate towards Lifestyles Unlimited.  I am simply wanting to hear from the general public, which happen to also be members.  I am about to be given a glass of the koolaid and I want to have a reality snapshot from other current members in the DFW area/market vs. the numbers and statistics that they will be using as the bait.  

Thanks in advance, and I am sure many of you have keywords setup that will catch this post.  Let's keep it classy!

[Lynn Dee Murrow]

Hi. I am a Single Family Mentor for Lifestyles Unlimited in DFW. I was a member for a few years then joined the team after acquiring several properties here in Texas. I am a second generation real estate investor. (full disclosure :-))

Some of the posts have discussed our program as it was several years ago so I thought I would give you an update about what is going on right now with Lifestyles Unlimited and the DFW Real Estate Market.

Lifestyles Unlimited has been around 24 years. We provide real estate education and mentoring. For the Challenge and Preferred Investor Group Programs we do provide Realty services by a sister company who only works with our members, but we mentor on any deal. We have had our ups and downs and there was a time period when our Mentors were also Real Estate Agents and were stretched too thin. We remedied that a few years back when we separated the roles and now all our Mentors do is Mentor.

The Challenge and Preferred Investor Group programs are not for everyone. A lot of our members attend the 2 day seminar we provide for $500.00 and includes 1 year of membership in the Financial Freedom Program which allows you to attend the 2 day seminar, which is given each month in 3 cities, as many times as you like and includes our member services team to answer questions about anything covered in the seminar. Many people can, after attending the seminar, go out and get started!

Others, want or need more assistance. Perhaps they work a lot of hours, are fearful, feel they need more education or they feel the education and mentoring is an investment and they want the on-going education and a mentor they can reach at any time for any question. The Challenge program for single family or the Preferred Investor Group Program for Multi-Family is right for them. Ongoing operations will make or break an investment. Our operations specialists have decades of on-site operations experience at no additional charge to members at this level. We have live classes in 3 locations monthly, monthly webinars and an online education program. We are quickly building out our education network to include nationwide support.

The DFW Market can be challenging for investors right now because of low inventory. The hedge funds are not buying nearly as many properties because of the rising prices which they contributed too. Many have left the area and those that remain are focused on operations and some are opening up property management companies to leverage off their current property management activities. All are selling off some of their properties that are not performing.

Our Realtors at Lifestyles Realty in DFW are sourcing 90% of their deals directly from distressed sellers or through wholesalers. The deals are exclusive for Lifestyles Unlimited members so we do not have the pressure of bidding for property. Like all wholesale deals, our members do have to move on a fairly fast timetable, but there is time for inspections and bids so you know what you are getting.

The key is adjusting to market conditions. There are always distressed sellers and distressed properties, right now this is an excellent focus for investors. In other Market cycles the majority of our deals come from mls. In this competitive market our alliances with wholesalers really pay off. It is good for the wholesaler too because they do not have to work with the buyer, our Realtors are very experienced with Wholesale contracts and we close on our deals. 

If you are out in the marketplace on your own right now I suggest you consider your own marketing campaign. Distressed owners and owners of distressed property are getting more letters to buy their property then ever before. You will have to focus on an area you know well and make your letter and your offer stand out from the rest. Be genuine and honest and open with the seller. They are afraid and they are not educated in the process. 

I hope this helps!