All Forum Posts by: Jared Robert Steele

@Bart H. You are 100% right, apologies for saying it was a bubble. It is most definitely a much "warmer" market than at other times.

Anyways, best of luck finding deals there as they are out there and will continue to be!

the DFW market is my home, born & raised there. Was doing grunt work for an investor who ran a larger REIA from 2008-2012, and then left dfw for college. came back, decided to invest/wholesale full time, I only lasted 2 weeks in that market... IT IS SATURATED I worked a NOD list and homeowners would say "you're the 5th person to knock on my door... today". There's deals in any market, it's just a matter of how many others you're competing with to find those deals. Once Open door, Blackstone, and the many CA/out of state investors leave due to the incoming bubble, then you should be better off. Dallas is a great market, but there's literally hundreds of other great markets across the US. I'm 100% convinced "small city" investing is where it's at.

@Peter Lohmann they are illegal in certain jurisdictions. There are probably tens, if not hundreds, of thousands jurisdictions where they are allowed. A blanket statement like that is not necessarily helpful nor informative. 

I would say go for it. As someone in a BP podcast once said;

"people will google what is on the bandit signs in their area"

So consider it being a second-hand approach to your web presence. Maybe "Barclay buys houses" and a number, or BarclayBuysHouses.com would be good ideas for signage copy.

Also, if they are illegal in your jurisdiction, you will find out quickly. Most of the time a sincere apology and "this won't happen again" can solve many problems. DO check first though if you can.

Best of luck!

Hey @Roger Covin,

I went to high school in Arlington, so just thought I would say hi!

Nonetheless, could you argue that it is a lead generation expense? Since they technically are not facilitating a transaction I don't see why it could be argued against in court.

Hi all,

Just graduated from Texas Tech a few weeks ago and here's something to consider;

1) Student housing complexes are HOT. Capstone cottages, 1819, and many others are flying up - this threatens residential investors. This is essentially what Blackstone has done throughout the country.

This is concerning as you will find places East of University with WAY too much inventory... it makes me wonder how long it will be until Tech Terrace will be at mercy to the fully furnished, cheaper rent, all bills paid student housing options. If you haven't seen some of them, just check them out - some are like a luxury resort. 

2) While Tech Terrace is hot, consider other parts as well. I stayed at a humble spot for my senior year - near 40th & Ave Q. It was a rougher spot, but the owner bought it for $50K, and was getting about $350/room (3br). That's over 2%. Not a war zone by any means, just very blue collar spot (I would recommend not to go East of Ave. Q though).

3) Many students do rent from places south of 50th. It's nicer, quieter neighborhoods. Many grad students prefer this. You will be able to attract student + non-student renters this method. Not many non-students want to live on a street where frat party pre-games are held weekly.

Best of luck and let us know how we can help!

Hey @James W.

Currently out in Lubbock right now. My friend has made a recommendation for a guy who is supposedly wonderful. 

Let's connect and I can put you in contact with him.

I was thinking a similar thought.

Houston will bounce back, but it may take years. Just think about Katrina - there were areas that took 5-10 years to bounce back in New Orleans. Although it is different in Houston, it will likely be a slower process.

Keep in mind, insurance costs due to hurricanes are more expensive. The high deductible amounts will cause many homeowners to break the bank.

Hi everyone,

Short summary of me;

-Worked for a broker/investor from 16-19 years old (2010-2013). Cheap labor, learned a bunch. Didn't see the results I wanted & decided to chase the quick payoff through W2's.

-Decided to get some "knawledge" (Tai Lopez joke) and do the corporate stuff and try my hand at the tech startup scene. Went to college and decorated my resume with many internships and jobs in cubicle farms (such as CoreLogic - they own RealQuest/ListSource). Quickly saw this was not the way to live life. 

-Took 2 months off this summer to do a West Coast tour. Traveled over 8,000 miles from Baja to British Columbia. Was able to do a bunch of "soul searching" and realized I make a HUGE mistake to quit in the real estate investing scene. 

I'm now moving back to Lubbock (went to school at Texas Tech, grew up in the Irving/Arlington, Texas area) to start investing there, and then eventually come back to the DFW metroplex. 

What am I wanting to do? Build a REIT through slow, deliberate, conservative, & smart moves. I'm not trying to get rich overnight, but I am looking to expedite the process through long hours, hard work, and an excellent team.

I believe the pie is MUCH bigger than we think - and that we can work together to scour deals. Let me know what I can do to help you & your business!

Thank you!

p.s. please give any tips/suggestions.

I have an absurd amount of door knocking experience, here's my two cents;

1) People know if they want to sell their house or not. Regardless of your sales capabilities, you will struggle with the ability to sell the idea of them selling their home. It's a constant uphill battle that they are emotionally attached to.

2) With preforclosures, it's a bloodbath, at least in the Dallas-Fort Worth area. I would have people say "you're the 5th person TODAY that has knocked on my door". Yes, they are motivated, but it turns into noise quickly.

3) I've heard people try the blanket door knocking around 2012, and had good success. With the economy in the condition it currently is, I think it is unlikely that you will find droves of homeowners in financial distress.

It's worth a try (and by try I mean more than a couple houses on a single day), but should be a supplemental strategy, not your go-to.

PIPIEDRIVE!

I know Lance Wakefield recently mentioned it when he aired (episode 236). It's SIMPLE, it's BEAUTIFUL, it's INTUITIVE. No, I'm not paid by them, it's just the best system. Plus it's cheap.

Simplicity = elegance