All Forum Posts by: Geoffrey W.

I live in Denton, TX (the north side of the Dallas / Fort Worth area). From recent podcasts (Show124 and Show125), I got the great idea of asking local investors if I could learn the ropes by being their property manager or an assistant. That is, if they're ok with me doing it part-time/as needed since I have a full-time job. I would offer to do it at a reduced rate, of course (hopefully not for free forever at least).

Mainly, I want to learn from an experienced investor and make a little money to build my capital for my own investing (and pay off debt to be honest). I've failed 4 times (2 HUD flips, 2 rentals) when trying to invest on my own so far so I need to take a different approach...plus those failures drained my self-directed IRA of pretty much all capital so I'm starting over - not unlike the student in The Richest Man in Babylon. (ah, the lessons learned from failure...)

Question 1 - What can an unlicensed person do as far as property management goes? I saw the TX Real Estate Commission guidelines for unlicensed assistants, but what activities would be helpful for investors that I could really do legally?

Question 2 - What are people paying for property management in DFW for SFR, multifamily, and small apartment buildings?

Question 3 - Are birddogging and wholesaling legal in Texas without a license?

Question 4 - Is it helpful if I go check out properties for other investors who are busy or out of area?  Not birddogging, but if they might want to offer on something and don't have time to drive there, take pictures, etc.

Primary goals - building capital, learning the smart way to invest from a master ( I already know stupid as Michael Gerber put it).  Any other ideas?

Maybe someone already mentioned this, but I haven't read all the comments yet. Do you think you might add an option to default some of the fields to a % of something else (ARV, resale price, etc)? I know it's asking a lot for a "free" tool, but for pros I guess it's something they'd be paying for in a way...although, how many pros will use this vs their own Excel spreadsheet that likely has a reporting sheet as well? I think it's a great tool so don't mistake this as criticism, just a question.

Congrats and thanks for sharing your story!  It's nice to see things working for people.

Thanks Anson. I've contacted Ryan for now since he's local, but I definitely appreciate your offer.

Currently looking at buying an SFR deal from a wholesaler, and need help with comps. Not sure if the seller is willing to pay 6%, but let's work something out if I pursue the deal. ARV is around 600k in Preston Hollow area. PM or colleague request me for details.

I haven't chosen any software, but Frank Gallinelli's RealData REIA Express looks good for the price ($159 one time). But I don't think it has CRM, and it's a client app, not web/cloud based. Still, the deal analysis stuff looks pretty straightforward, which is good for a newbie like me.

For the CRM piece, I'll have to look at Zoho, but I think HighRiseHQ has a free plan (only up to 3 deals and 250 contacts). Anyone have more comments on these?

Thanks Priscilla and Bill! I think I will need to consult with an attorney (after I Find one in DFW - any recommendations?) on how to proceed with the contracts, advertising, and such to be safe in TX. I appreciate everyone's responses!

And since I read Bill was in the Army, did anyone else read his posts like he was a tough, angry drill sergeant (but in a good way)??? No, just me? Anyway, great posts! :)

I know this is an old topic, but didn't get a lot of vetting out for some reason.

Anyone know what the state statutes are on this in Texas? Do we have to wait until closing before we can start posting Craigslist ads and such?

Is it different for HUD or REOs in TX vs private sellers?

I'm just getting started with offers now on HUD homes so very curious!

This is a great topic! I'm still a newbie to REI, haven't even done a deal yet, just learning. I've worked in IT for a commercial RE asset management company for about 9 years and for IT in the electric company before that.

I have an undergrad business degree in Information Systems from TX A&M, and thought I would be a programmer most of my life...but somehow got into IT project management. REI feels more rewarding / fulfilling somehow - even though I'm still just learning.

I think I will pursue my TX RE license as well this year for education and to open the door to more opportunities.

I know this is old, but did you sell this? How did it go? I would like to hear the deal's story.