All Forum Posts by: Brendan Mull

We are new investors that have recently bought our first property. We moved the tenant out and need to begin the rehab process. After getting a closer look at the property, I'm thinking we need more help than previously thought. Big surprise right?

This is a pier and beam house that's going to need leveling, drywall work and the bathroom needs some help too. Some of the other items, such as interior trim and interior painting we can handle separately. Should I be looking for one GC to handle the process or just hire individual subs? Can anyone recommend a good general contractor that works in the Gainesville area?

Feeling a little overwhelmed at the moment! Thanks in advance.

@Elizabeth Ben Like Bruce said, the northern DFW area is exploding. The Hwy 380 corridor and north is your path of progress right now. For instance, a 3/2 1650sqft house built in 2016 in Aubrey sold for $179k and appraised for $221k at the beginning of this year. Now similar sized properties are being built in Aubrey and listed for 250-270k depending on finish out. That will only continue as Frisco and Little Elm run out of room to develop. Also a major improvement to Hwy 380 itself was just announced this week. That should help too.

@Antonio Barnes very good idea. And good point about the gentrification of the downtown areas. We've certainly seen that with the Deep Ellum area and it appears Oak Cliff is going through that right now. I do believe you're right about Valley View and Gainesville. They will probably follow suit in the next few years. If you can weather the next 3-5 years you probably will be rewarded. At least that's why I'm paying attention to it and have considered it.

Denton is a great place to invest. There are two major universities, NCTC community college, and a flight training school. Also home to Peterbuilt, Wal-Mart Distribution Center (just north in Sanger), and I believe there is a National Guard station there too. Also pretty much everything along Hwy 380 from Denton to McKinney is growing extremely fast. If you can find a deal in Denton you'll probably be rewarded. I know I wouldn't hesitate if I find something in our price range there. I also happen to work in Denton and live in a small town near by. So, that's convenient.

Rich Dad, Poor Dad is great. The Bigger Pockets books I have read have all been solid and very informative. Never Split the Difference by Chris Voss is extremely good and a very important read for anyone that will ever negotiate anything. I met Chris Voss after a non real estate seminar a few years ago, very humble, friendly guy.

I'm going to have to get the Millionaire Real Estate Investor it seems. It's mentioned by tons of the Bigger Pockets podcast guests too.

@James Walk A massive apartment complex (probably student housing) just went up in Denton on Fort Worth Drive. There are two older commerical properties that just went up for sale in that same area in the last week or two. They are both shop space. Don't know how happy the city will be to allow those to stay as they are however. They have been "encouraging" fixing up all the older areas of the city for at least the past 5 years. Lots of changes happening here quickly.

Looks like there are still deals to be had here and there, especially in Sanger like you said. I'm keeping an eye on Justin, Ponder and Krum as well.

There is definitely lots of inexpensive property for sale in Gainesville. And I would guess in 5-10 years the demand there will be exponentially higher as the I35 corridor north of 380 continues to grow. But, my concern there has been crime rate and terrible schools. Not really highly desirable...yet. However, there are an abundance of older homes with lots of character just waiting for restoration. Unfortunately, many are still in bad neighborhoods.

Would love to hear if anyone on here is currently active up there and how it's going? I've been keeping my eye on the area.

@Ryan Blake thanks for the encouragement! I could use that. I know there are deals to be had out there. It's not like investors in DFW just quit investing. So there are deals to be had and/or made. Just have to find them.

@Warren Dent thanks for the suggestions. I signed up for the DFW Network Investing group Sherry Patterson is having over here in Denton on Oct 28. I also found quite a few smaller groups on Meetup.com.

Very logical and straightforward. I naturally tend to ask questions with a healthy dose of skepticism. Seems like that, along with my own research will go along way. Didn't know if there were obvious well know scams, companies/entities, groups, etc. to avoid. I've already seen some warnings about certain larger wholesale companies, in my area at least.

Thanks guys!

Not that anyone on BP would knowingly take advantage of a new investor, but there are those in the industry that would. For those experienced investors out there, are there any signs or clues to look out for? I believe it's always best to be cautious when starting a relationship with someone, especially in business. Obviously, there are the self proclaimed gurus out there that demand large sums of money up front for mentoring programs. But, what other precautions should a new investor take?