All Forum Posts by: Hattie Dizmond

Welcome!

Welcome!  I'm in DFW myself, just as new and barely in front of you on the employment front.  Perhaps we can commensurate along the way.

Hattie

Congratulations!  Would love to hear the details of how you located the property and anything else you're comfortable sharing.

Can't wait to post my own news of a first deal!

Good job, man!!!

Thanks, Thomas.  Excited to be here.

I'm actually attending a Ft Worth chapter meeting this weekend, because the topic is "Subject To". I did "driving for dollars" this past weekend over in Richardson, just to start getting a better feel for the different neighborhoods. I came away with some FSBO properties that I'm contacting tonight, as well as some properties that look like someone at least should want to sell! I'll post my progress as I go. Have you been to any of the Dallas area meetings?

Hi there! My name is Hattie Dizmond. I've been thinking about REI for years, but moved the dial off thinking to acting about 3 months ago. So far, the best thing I've done is sign up for Bigger Pockets. I can't believe the amount of information & advice.

I have 2 partners, and we're focusing our energies in the Richardson & Grapevine/Colleyville ISDs of the DFW Metroplex.  The reasoning there is that the properties are primarily nice blue collar to middle class.  For this area that puts them in the $120k - $350k range with either 3/2/2 to 4/3/2.  The real draw for these areas is the school districts.  Both ISDs are exemplary, with Richardson being one of the top 25 districts in the country.  Houses sell ridiculously fast, at or near list price, and people are scrambling to get into the school districts as the larger districts continue to go down hill.

We are focusing our energies on Wholesaling at the moment, while we learn as much as we can about this thing called REI. We hope, within the first 12 months to begin flipping as well and eventually do some buy and hold investing.

I'm going to my first REIA meeting this weekend and am very excited about that event. If anyone has any advice, I'm all ears. My grandfather told me to learn from other people's mistakes, because I will never live long enough to make them all myself.

Glad to be here.

Hattie

It's easy to find people to take your money. The key is to find people who will help you put your money to work and not take YOU to the cleaners.

I don't really understand all the people saying don't do Private Money lending. It really gives you absolute control over your investments in a way no other avenue does. Sure, you can invest your money with Hard Money lenders, but you are relying on them to make the decisions regarding what deals your money will be working. There are risks to every investment. If you are completely risk adverse, then leave your money in a CD and watch yourself lose money year-over-year as the returns don't keep up with even the most conservative inflation estimates.

Deals secured by RE are about as safe as you're going to find, outside of insured deposits. There are many ways to maximize your investment $'s through RE. However, you need to understand why most reputable RE investors might not reach out to you to take you up on the statement about having money to lend. As a private money lender, you fall much more into category of an investor and there are special rules at play. For instance, no matter how much I might want to take your money :-) I get in some dangerous territory reaching out to you for investments, without having a relationship with you. It's called Circle of Influence, and even though it applies more specifically to "advertising" to investors, things get sticky, and I'd just rather avoid it, particularly since I don't know things about you, like whether you're a registered investor or not.

See...there are rules for everything! Bottom line, there is a place for the direct Private Money lender. Don't get discouraged.