All Forum Posts by: Dustin Lang

Really good point on asking for their most problematic properties! I recall David Greene on the podcast saying he'd even sell his annoying properties at a lost to pass them on lol 

Thanks for the insights! Really shows that REI is about who you know! 😁

Great insight Sean! Another tip I learned from another investor as well to counter a seller's desire for "I want over 8% interest on the loan cause that's what i'd get in the stock market" is: 

1) If the seller is to act as the bank, they are to treat me (the buyer) like a bank customer. If the typical loan nowadays is 30 years at 3% interest and ~5% down, the seller finance structure should reflect what is current of the loan market. And from there, you strategize or negotiate on what's favorable in terms, down payment etc. 

2) 3-4% interest through seller finance is often times more safe/profitable for the seller as opposed to them taking their already 30%+ taxed lump sum of cash from selling their property and stashing it elsewhere to grow only on a fraction of the original amount. 

Any tips on where to learn the most about seller finance? After my first househack, I will have deplete most of my cash savings. I've been browsing the forums for seller finance info but have yet to find something cohesive that shows the start to finish. Really looking for a source or maybe course that will explain off market lead generation, seller finance structuring and contract setup etc. 

@Bruce Lynn Thank you for the load of information! I will take a look at all of them! 

Recently relocated to the metroplex! Does anyone know any current REI meetups happening in the DFW area? I've seen a couple previous posts in the forums about meetups but those were also pre-Covid so not sure if they're still happening.

Currently newer to REI and primarily looking to meet other people here. Working on my first househack at the moment.

Thanks again! 

@Bruce Lynn Good to know! Thank you again and i will keep all of this in mind moving forward! 

@Jordan Moorhead Good to know! haha did you do a live and flip?

@Marlen Weber Thanks for the insight Marlen! I assume wood rot is normally visible and a part of the home inspection process but do home inspectors normally catch mold alongside with it too? Or would that require another specialist? I assume wherever there is wood rot due to liquids, there is a very high chance of mold. 

I am mostly looking at areas without HOA's right now just to lower costs especially with Texas' high property tax!

@Charles Goetz Thank you for the advice Charles! I will probably have plumbers walk the property too then. Wow those plumbing replacements costs can get quite steep! I assume Texas bipolar weather between winter and summer really takes a toll on cast iron pipes. 

For aluminum wiring, I know they can be a fire hazard but how do homeowners nowadays usually go about fixing this issue? I assume rewiring a whole home is unfeasible and requires getting into the walls. It would probably cost a fortune too. 

@Bruce Lynn Thank you so much for the insight Bruce especially in regards to the cast iron pipes and foundation warranties! I guess I should start budgeting for those CapEx now or try to negotiate it into the price. I know houses go fast here but do sellers even bother to negotiate or include concessions for those with the ongoing bidding wars in these areas!? Dallas is super heated even with COVID.

Lastly, I assume most of these come up during the inspection process or are inspectors not keen on this part? Should I possibly have plumbers or foundation specialists walk the property too to reaffirm when under contract?

Thank you again! 

Hi all, 

I'm currently looking into single family homes to househack in North Dallas specifically North Irving, Carrolton-FB and Plano. I've noticed most of the homes in my price range 215k-265k are homes built in the early 1960's to late 1970's. Is there anything to keep in mind when looking at homes this old? 

Are there any key expenses related to older homes or the Dallas geography to watch out for in general? I hear foundation issues are extremely common in the area. Thanks!