All Forum Posts by: Alex Grosvenor

Hey Cynthia! Welcome to BP. This is a great place to learn. Listen to the podcasts, be on these forums, and attend the webinars. 

First step to becoming successful is having that mindset of "I'm willing to do anything it takes to get to that success."

@Andrew Thompson

BP is a great place to connect with all types of investors and agents!

I would love to connect! Old East Dallas has TONS of potential right now. That's an area I'm very interested in as well.

Solid Wholesalers are hard to find. They are few and far in between. When you do find a solid wholesaler the most likely already have their go to cash buyers. They don't know you and they don't know if you are really a cash buyer or just saying you are. 

With that said it takes time to build relationships and build that trust up. Be patient, real estate is not a get rich quick thing. It can happen rally fast, but it most likely won't.

Under 70% of ARV meaning when you buy it or do you want to be under 70% of ARV after you fixed the house up already. The first one I find every single day. The second one is non existent.

@Account Closed DM me I love love to see those 1%+ rule deals. Tons of people I know are looking to buy 1% rule deals as well as I am myself. I can't find them anywhere in the DFW area. I would love to work with you and get you paid on those deals! 

@Young Kim Under 200k is very tough for a great property that needs little to no rehab. If you did find it and get it then it would be a 1% rule of the money into the deal (PP+Rehab+closing costs+ holding costs) not 1% of the ARV. The numbers still work, but that 1% rule wouldn't be there if they didn't rehab the house themselves. Denton is a great place to invest. Just want to let you know that 1% rule is HARD to find here. DFW to me is an appreciation play not a cashflow market.

Hey Vijay! 

Getting beaten out by 3 offers is NOTHING. Most investors I talk to get 1 in 30 to 1 in 40. Meaning 1 offer accepted for every 30 offers made. Especially here in Dallas where everything is flying off the shelves. 

Don’t get so down. Keep your head up. Keep making things.happen everyday. 

I was looking at a New build yesterday going for 200k that rents for around $1600. That’s a .8% rule right there. Those are easy to find. Now 200k with a $2,000 rent is nearly impossible here in DFW.

@Mason Moreland People forget about El Paso because it's at least 8 hours away from any other major city in Texas.

If you want to get into a market cheap and early then El Paso is the place. Its actually a pretty prime spot to be in.  It's 8-10 hours to any of the central Texas cities, 8-12 hours to anywhere in California , 10 hours from Vegas, 10 hours from Colorado. Couple of hours to Phoenix. That's about a 2 hour flight to any of those places. You can see into Mexico. You can drive the highways along the wall. Mountains are everywhere.

8-10 hours may seem like a far drive. I spent 3 years in the military in El Paso. We took 4 day weekend vacations to all of these places always driving and multiple times. I know a lot of other people there who have done the same thing. 

If you look at all of the information it makes sense why more and more people are moving there. It is a long term appreciation play with cashflow now because you get in so early.

I'm convincing myself into investing there as I typed this lol. 

Hey!

I think I can speak for most Dallas Fort Worth people when I say DFW is more of an appreciation play than a cashflow play. I can't find much that I can BRRRR all in for less than 100k. Average home price being at almost 300k. I don't see anything really all in at 100k. 150k to 200k in not the best neighborhoods absolutely.

1% rules here are very hard to find here, in my experience they aren't here anymore and everybody is just holding for appreciation 10-20-30 years down the road. It is also a very safe place to invest. It is business friendly ,an influx of businesses and people moving here. The economy here is stable which is why people love investing here so much. 

El Paso however is a great cashflow play. Military town. They will always have jobs and always get a check on the 1st and the 15th of the month no matter what. A lot of people who retire or get out of the military are ending up staying, so the city is growing at a solid rate. Which should mean appreciation is growing at a solid rate as there is more demand for housing. There is TONS of land there to build on and expand if need be. The cost of living is extremely cheap there compared to DFW, Houston or San Antonio. 

That price range is definitely doable looking in southeast Dallas. The low inventory of those 2-4 units is the hard part. It is most definitely an appreciation play to do so counting on Migration outward as the inner city fills up. It can definitely be am done and I’ve talk to high level investors doing the same thing. 

Hey! I have a couple of different lenders I can send you way that will be able to help you out. 

Hey @Terrione Francis!

Welcome to DFW. What kind of Multi family? 2-4 units or 5+? What’s your price range? What area are you looking in?  A lot of in answered questions here. 

I’d love to help.