All Forum Posts by: Jeff Richardson

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@Elijah Glenn I was asking your goals to see how I would handle your situation, based on the outcome you are trying to reach. If you can capture equity on each purchase, then it makes sense to sell your house and use all of your equity to purchase more properties and possibly downsizing to a new primary that will lower your expenses adding to the capital you'll need to purchase more properties and after a year you can buy a new primary and rent out the last one. 

@Rita Lo Thank you for asking this question, as I was just about to ask it myself. I've been trying to look for a deal in Arlington for a little while now and keep coming up with low or negative cash flow, possibly due to overestimating expenses, but everything I'm reading seems to indicate that Arlington may not be the best place to look. DFW in general is very interesting to me, however. I'm definitely going to investigate some of these other suggestions.

My question is: do any of you Arlington/DFW locals have a property management company or person who is just terrific? I'm in California, so I definitely need someone in the area.

@Jessica Muto I personally believe instead of hiring a property manager, you should vet a team of sub-contractors or some general contractors to handle the repairs, and get a good education on the landlord/tenant laws and the lease, then you can market the properties yourself. A property manager will end up being very costly and you probably won't be happy with the results. If you are going to be a buy and hold investor, you just need to be educated on the best practices. We don't spend more than a couple hours managing our 8 properties, and I never go to see them.

@Elijah Glenn What are your investing goals? 

@Ribu Thomas Lifestyle's Unlimited is a REI group in San Antonio, Houston, and DFW that specializes in rental real estate. They have multiple Investor friendly companies lined up for each of the trades that you asked about and many more.

@Adriel Ramirez When you buy the properties cash and you qualify for conventional loans, you can do what is called "Delayed financing". You buy it cash and rehab it, then immediately finance it for 75% of the value or your purchase price, whichever is lower. 

@Christopher Short I would say if you plan to be a buy and hold investor instead of spending money on a management company, learn as much as you can about systematizing your business so that you can get great returns and not have to spend much time running your properties, especially when you only have one. We have 8 now and it takes me less than a couple hours a month to run them, not worth the $800 or so I'd have to pay for management. 

@Saif Ali I don't do any wholesaling in Houston, I have bought 4 rentals from wholesalers through Patten Law firm in Houston with great results.