All Forum Posts by: Dan Franks

I am a real wholesaler doing real deals. Have been doing one per month on average for the past six months.

Some of my deals have been big enough that if they were all that size, I'd be able to do it full time and live better than I am now. Others have been much smaller.

I do know multiple people doing it in my market full time, and am confident that if someone were in the right market and took the right approach to scaling things up, they could as well.

Simon Campbell,

If you don't mind me butting in, I would say that the infographic you made is actually fairly misleading.

It looks like the statistics you used were just from Dallas city proper. Most of us who live and invest in the area consider Dallas to be either the entire DFW metroplex, or at the very least the eastern portion of it.

So while I am sure the statistics represent Dallas city limit statistics, it is not a great representation of the "Dallas Real Estate Market".

Hopefully that makes sense,
Dan

Lots of great advice here, especially from Bill G. Living in Dallas, I cannot turn over a rock without finding a HomeVestors guy somewhere underneath it.

Really there is nothing you can do as a HomeVestors franchisee that you cannot do independently. I agree with what everyone has said before me here.

The keyword feature is great Jon, I agree!

This is put on by Homevestors.

From lack of responses, I am going to go ahead and guess people think this is a dud?

Any opinions on Luis's idea of negotiating an ARM on their terms to eventually get to the 9% they want?

They are not able to go lower on down payment, but I think there would be negotiation room on the terms of the 15 year financing.

This is a Dallas area home, so very standard appreciation.

Neither in foreclosure or vacant. Seller is selling all 4 together. They are four identical units.

Wholesaling has been my sole focus since starting in real estate, but I have been keeping my eye out for an owner finance deal to get my foot in the door of owning rentals.

I have found a seller who is leaving the country. They own four townhomes in one neighborhood. Section 8. Tenants are longterm, 7.5 years, 2+ years, almost 2 years, and over 1 year. All four units are 2/1.5/2 parking spaces. Tenants pay all utilities.

Total monthly rental income is $2500, but after the annual inspections and adjustments this year this should go up to $2860/month.

Numbers:

There is an HOA that covers roof, exterior maintenance and landscaping.

Sales price (for all 4 units): $130,000
Down payment: $15,000
Amount financed: $115,000
15 year note (NO balloon)
9.5% int rate
$1201/mo principal and interest for all 4 units

Expenses (for all 4 units):
Taxes: $130.67/mo
Insurance: $141.67/mo
HOA dues: $448/mo

I already have got them down to the 130k with the 15k down, and they cannot really go any lower because they have an underlying lien.

I understand as is now is pretty thin with the current rents, but will get more lucrative if/when the new rates went into effect. Do you guys see anywhere here where I can make it a better deal for myself, or should I pass and move on to the next one?

Thanks in advance!

I use:

JERE BECKER
Jet Realty Group, Realtor
214 442 3985
[email protected]

He works with a good number of investors.

Also, if you are interested in wholesale deals in the area, shoot me a PM and we can talk.

In on the next Dallas Meetup