All Forum Posts by: Gary West

Hey.. I think I may have committed a foul by posting those numbers. My apologies to the forum if so. If I knew how to edit the previous post I would. Dave Savard if you add me as a colleague I can PM the contact info to you.

I have a connection in the dfw area. Dave Howell 303 601 7617 (contractor)
Rick Carr 817 329 5066 (Investor/rehab specialist/realtor/broker)

Harry, Thank you so much for that thoughtful reply. Hey, I have to tell you that nerds rule the world. As a matter of fact I would love to get my hands on the simulator that you built. How do you feel about sharing a copy with me?

I am a bit new to the REI world (except for being a landlord for the last couple of years). So my RE vocabulary is still forming. I need to go through your post and really decipher it so that I understand fully. With that said Ill definitely consider what you've stated because I am interested in speeding up the process so that I can eventually quit my w2 and focus on being independent and self supporting.

The land is in Granbury Texas. It is a quarter acre lot very near the lake, but is not lake front. (30 ft from being so) I plan on building one structure on it to sell or rent. Then Ill look for more purchase near my original rental in the DFW area. 65k should get me a modest 3 bedroom 2 bath home (detached garage/port). My plan is to use the "be your own builder network" in order to have equity at time of completion. Hopefully 65k will build a structure worth 85-95k.

Hello everyone. I love the site and my friends and family tell me that I spend way too much time here. :o)

I am a 43 year old Registered Nurse. I would very much like to become a full time real estate investor. Its a very slow task when you were not born with a trust fund. Still with everyone's help I may be able to live my dream.

I own one rental property that pays 1250 in rent and has a small and ever shrinking balance of the original mortgage left. I should have it free and clear by Nov 2013. I also own a land property free and clear where I would like to build to rent or build to sell.

Im a bit more conservative than alot of you "go getters" but if anyone has any pointers Im always glad to listen and learn.

Currently my investment plan consists of paying off my current SFR rental and then building a 65k(ish) structure on my land. Once the house is built Ill sell for a profit or rent it out. Once its paid for Ill grab another one. Ill rent it, pay it off then rinse and repeat. The beauty of the plan is that the second structure will have 3 people paying the note. Me from my w2, the renter of the first structure (since it will be free and clear) and then the new tennant of the 2cnd structure. My goal is to have 10 - 15 free and clear structures by the time i retire. Where the last structure actually has up to 16 people paying for it. This way I will slowly develop wealth (assets), simultaneously with considerable income.

Certainly there are ways to make this better such as finding great buys and possibly flipping. Im open to those avenues as well. However (unless i change tactics) ill only be buying properties every 2-3 years as thats how long it should take US (me and my tenants) to pay the latest purchase off.

Im open to suggestion for improvement. Thanks all.

Hello Danny. I was hoping you could point me in the right direction on where to look for tax sales. Where can I find the listings?