All Forum Posts by: Jacob Maes

Is anyone successfully BRRRR'ing here in DFW? If so, curious how you're finding your properties and if you're doing add on's to the property or if you are buying them as they are with no changes other than cosmetic updates. If you are successfully BRRRRing here I would love to talk! Thank you!

Hey @Sofia Miranda! I might be able to help. I have a STR currently right by AT&T stadium so very familiar with the city and their requirements. I also only sell investment properties and sometimes get something in the entertainment district. If you're interested or have questions let me know, happy to connect!

Hey man, I've never done it personally but know some people who have and had success. Only thing was they had the whole house to rent out, not a bedroom. The ones who had the greatest success hosted nurses so were close to a hospital. Furnished finder also has a minimum of 30 day stays, maybe try it on Airbnb to make it short term and see if you even really wanna go that route first. Up to you obviously, but not sure if jumping into a 30+ day with a guest would be what I would want to do. But if you're close to a hospital your spare bedroom could go well! Good luck!

Hey @Yong Lai congrats on the first purchase. Biggest hurdle in my opinion is rehab and to make sure you aren't getting taken advantage of with contractors. I work with investors and invest myself. Happy to give you some rehab numbers on around what contractors charge for certain tasks. When it comes to itemized bids, can be a little tougher if you're getting a bid from a more investor friendly contractor. If you get a bid from a larger company they will have it broken down but typically charge quite a bit. Let me know if you want me to send it your way!

Same question as Elliot, what kind of leads are you talking about? I might be interested!

Where about did you buy the land? I'm a big fan of following the northern trend of 75. Things seem to be getting more and more developed as you head north (i.e. Celina, Prosper, etc.). Along with that, 380 (the highway) has a lot of new development up there as well. But I agree with Roland that just buying land because someone said it's a good spot is a bit worrisome. 

1300 a month in taxes doesn't make sense... I would definitely dig in to see what's going on... I know taxes are high but I don't think they are that high. 

This seems to be the biggest challenge when working on a property. I am working on one right now and the contractor just stopped going so I had to fire him. This is the third contractor I've gone through in the last two flips. Any tips on how to find a solid contractor and what's worked for you? I had him sign a contract and all of that and still wasn't effective. Just curious what others are doing. 

Rates are going up and up and it's making it more and more difficult for investors who are looking to BRRRR because rental rates don't seem to be covering the actual mortgage. I work with a lot of investors and a lot of them who are looking for rentals are not looking to buy because of the rates. However, I'm seeing the big investors who are able to pay with cash and sit on it are still buying. Are rates going to push more and more investors out of the market?

Those are all great places, I used to live on Kauai and miss it some times for sure. I'm curious though, Are you looking to do 270k cash only or are you looking to use a lender? With a lender you could definitely make some moves but if you are looking to be 270k cash only, would be pretty tough.