All Forum Posts by: Gonz Trevino

Just throwing my hat in the fray. I know many have said that and I would strongly suggest putting a lot of research into buying 30k houses. They can be more trouble than they're worth usually! 

I would encourage you to specifically calculate your cost of capital expenditures over time. Good luck my friend!

Welcome! New Braunfels is great I own rentals there and in neighboring areas. I would pay strong attention to San Marcos as well which is growing lightning fast!

Be careful with low end houses that are cheap and bring in low rents. Despite the cash flow seeming "sexy" your capital expenditures can eat away your profits and you will typically experience more tenant issues here than most other properties. Do some research on these, it can lead to a lot of headaches and lost money in the long run!

I would personally avoid a smoker. The amount of headache it causes in the long run is not worth the risk. There should be many qualified applicants out there, rent to the next guy who doesn't smoke and is just as quality!

I know this is touchy and smokers can make great tenants. I am just of the opinion that it is an added risk and it is not worth it.

If you do choose to keep them... I would set some very strong ground rules. :)

I'll be out of town, darn! When is the next one?!

One thing you did not mention... and may be worth considering... is how far are you willing to drive? You mention North Dallas. Are you saying you are from the north part of the metro or are you saying you will only invest in North Dallas? I keep my driving distance up to 2 hours and have found many amazing deals by being willing to do stuff other people are not. 

Something to consider, visit some Real Estate Investor meetups and network with other people who are flipping! I'd venture to say there are good deals they are just not hitting the market. I have found that in Texas, clay soil will cause foundation issues. Find out what parts of Dallas metro are heavy on clay soil and I bet you will find some deals with foundation issues you can buy and make money on.

Hope this helps give some ideas!

I feel like San Marcos TX is being forgotten. Great area with lots of growth and relatively cheap compared to Austin and it's right around the corner!

In my experience it varies by area and lender. I have seen some lenders that only re-fi the amount you owe the hard money, and some will refi the full appraised value. Just depends. I would recommend speaking with some local lenders for sure! Hope some others can share even more insight. :)

If you need more recommendations hit me up. I've got a great guy and he's fast too. :)