All Forum Posts by: Daniel Mendez

Just be honest in all cases, but you can tell the truth and deliver the response many different ways. Yes you will make money, but at the time of offer, you have no idea how much. I would tell them. "my goal is to make money, but I take risk by buying properties "as is", so not every deal is profitable". 

Do you have cash to do the deals if you can't find a buyer? The reason I am asking is don't mislead people into thinking you are the end buyer, if you have no way to close the deal by yourself. It is better to lose a deal being honest, than to get yourself into trouble by being dishonest. 

@Daniel Mendez you always want to disclose that you may not be the end buyer. That should be in your contract and you would explain it as you walk through the contract. 

@Daniel Mendez right here on the forums after asking for referrals! We PM'd and then had a couple phone conversations to ensure our goals aligned.

@Daniel Mendez In DFW...you won't be able to find any good deals on the MLS. Specifically good deals where you can use the BRRRR method. Generally speaking we target off market properties. And you can work with "wholesalers" or just self-source these deals. Using the BRRRR method will keep more cash in your pocket AND provide you with instant equity in your investment property as well. It is a superior strategy but a little harder to do - but the payoff is worth it!

Now, who to network with to find these "off market" deals? I have several clubs that I think would be worth your time. Here they are:

Real Estate Groups

Several of these will have similar names but they are different. And these are the groups that I feel comfortable recommending. Several groups in DFW will try very hard to sell you things if you attend. Some are like $20,000. These are not that.

DFW REI Club – www.dfwreiclub.com – meet about 50 times per year. Lots of different topics and a very friendly group.

DFW Mid Cities REIA - https://dfwmidcitiesreia.com/ - meets each month and is completely free. Usually free food and free drinks.

DFW REI Network Investing Meetup - https://www.meetup.com/DFW-REI-Network-Investing-Meetup/ - Started in Bigger Pockets this group meets once per month. Just straight information and super friendly atmosphere.

AREA Real Estate Investing Group – https://www.meetup.com/realestate-445/ - Meets once per month and is usually well attended

Hope these help but feel free to reach out with anything additional. Thanks!

@Daniel Mendez As with most good markets, competition will always be fierce.  The way we stand out is we do what others are not willing to do.  Whether that is to make calls weekly to every broker in the market, visit that market 3-4 times per month or anything else that separates us from other investors.  You need to show the brokers/sellers that you are a serious buyer and the way to do that is to run your investments like a business (which it is).  You always need to be thinking of the next way to beat out your competition and to make your company better.  You can also team up with others in that market that are already doing what you want to do, you just need to figure out how to add TRUE VALUE to them.