All Forum Posts by: Greg Routen

I just went through this process myself and found that BBVA Compass and BB&T have the best HELOC programs/promotions in the Dallas area. I spoke to about 15 credit unions/banks in the area.

Welcome Johnathan. I'm located in the Dallas area and happy to help out in anyway I can. Best of luck! 

@Joe Facenda Great advice Joe and the Target/Nordstroms analogy is spot on! While you do deal with quite a few tirekickers when working with investors, it can be a very rewarding niche. I enjoy working with investors and trying to find the next deal! 

My name is Greg Routen and I'm an investor friendly real estate agent in the Dallas area. I work with both in state and out of state investors to help them purchase/sell investment properties. I would be happy to assist with pulling comps, writing offers, showing properties or whatever else you need.

Feel free to reach out anytime!

Best,

Greg Routen

Finally! Thanks for sharing. 

Hi Kulin, 

Frisco and McKinney are great areas but it can be difficult to cash flow in these markets right now. Unfortunately rents are not keeping up with the cost to purchase properties in these areas. Although, I wouldn't completely rule these areas out, as you can occasionally find numbers that make sense. 

Thanks for sharing Jim. 

@Andrew Sampino Below are just ballpark numbers to give you an idea. I added 6% for vacancy, 6% for capex, and 6% for repairs. I also included 8% a month for property management. He might manage the property now, but does he really want to for the 20+ years he plans on holding it? As I said, just ballpark numbers and going off what you provided. 

Hi Andrew, 

To be honest, this is a terrible deal (even at $3,000 a month in rent). Does he plan on using property management? If so, add another $200+ a month for that. You really need to add capex and vacancy rate into the equation, unless nothing ever goes wrong with the property and never has a vacancy (chances of that are slim to none). The numbers I run have him losing a few hundred a month, so I would tell him to run! I've seen deals much better than this. I know it's a hot market (especially for multi-family) but I personally think he can do better! 

Hi All, 

I'd like to connect with wholesalers in the DFW area. I'm an investor friendly agent looking to purchase properties for myself and/or clients. I'd love to work together and join your buyers list. 

Thanks, 

Greg Routen