All Forum Posts by: Dennis Roper

Hello Forum,

Have been searching through the MLS for a while for multi-family deals. I would like to use my VA loan this time around since I have to move to the area for work anyways (so safety for family is a concern) but there just seem to be a lack of a multi-family available all together much less a deal that would fit the VA criteria.

Just frustrating when you have the financing in place (up to 400k), have a lender that I have used before that can close quick (20 calendar days on a VA is quick) and just cant find anything that fits.

Any advice from those active in Fort Worth where these might be hidden or other areas close that I might be missing? 

Very true Josh, thanks for pointing that out.    I should have prefaced better with specific examples and personalized it more instead of generalizing it.

Hello Bigger Pockets!

We are real estate investors who are moving to the Fort Worth area.  My spouse takes care of the day to day investing pieces while I work a regular job and also contribute the other components that make this work.  

Last time we lived in TX (moved about 2 years ago) we were fix and flippers but our strategy is different coming back after 2 years away.  We just feel the margins in fix and flip are getting slimmer and want to move into cash flowing rentals to ride out any downturn.  When everyone we know wants to be a "real estate investor", we know the gig is up for now.  At least that exact same scenario happened in 2007.  History does repeat itself.

We are actively seeking a deal in the Fort Worth area (preferably close to NAS JRB Fort Worth) for us to live in initially. We are looking to spend no more than $350k (already have VA pre-approval with my preferred lender). Schools are important as we do have a little one to think about. Duplex to Fourplex would be the preference although we are open to other creative options. We do also have a Realtor on our team that we use.

After securing a place for ourselves, our plans are to use our capital and investors we have worked with in the past to purchase cash flowing rental properties to keep long term along with utilizing a few different exit strategies to include Brandon Turner's BRRR strategy.

Bigger Pockets has been a huge resource for us over the past year as we shifted our strategy and look to continue implementing and refining it.  This community is a wealth of knowledge and we are grateful for this insight and wisdom that is placed here daily.  There truly is nothing like it out there!

Thanks in advance to everyone!

Dennis