All Forum Posts by: Joe Funari

@Jarred Marrow I still suggest the Dallas/Ft. Worth area for purchasing your future investment properties. You can still find move in ready 3/2/2 SFR's for less than $300K. Yes, property taxes are high here. Because there is no state income tax. Also, strong job market and low cost of living makes the Dallas/Ft. Worth area a great market to own long term rentals. Also, a state law went into effect putting a cap on "non-exempt" properties tax increase at 20%: https://comptroller.texas.gov/taxes/property-tax/valuing-pro... So at least we get some relief on the annual valuation each year. @Alecia Loveless I would suggest you sister use a third party tax protest company if she isn't having any success. I was having success protesting them myself. But as my portfolio has grown it has become a bandwidth issue for me. So I use a company that only gets paid on the portion of the reduction they get. So they are highly motivated to push for a reduction in the tax "valuation" each year. One of the biggest mistakes I see other investors make is not protesting their taxes every year regardless of if there is an increase or not. Hope this helps. 

@Blanca Munoz @Nathan Gesner gave some great advise. Especially points #1 and #4. As you begin your REI journey knowledge, and just as important, is your network that you need to build to help you succeed. I help many beginner investors over the years buy and sell here in the Dallas/Ft. Worth area. I always direct local investors to attend local REI meetings. Great place to get an inexpensive REI education and network. DFW REI Club is a great place to start: https://dfwreiclub.com/

I also recommend any potential clients to reach out to my preferred lender & fellow investor @Andrew Postell. You can have a candid conversation with him to review your financial situation to determine Nathan Green's #2 point about getting your finances in order to be ready to purchase your next investment property regardless of your exit strategy.

I have been helping fellow investors purchase investment properties for +7 years here in the Dallas/Ft. Worth area. I am always willing to help other investors succeed and get out of the rat race. My contacts, such as Andrew Postell, become my clients contacts. Why reinvent the wheel and go with contacts that helped me succeed in my REI journey? Hope this helps.

@William Strickland I recommend to my clients to use bankrate.com PITI calcluator. Its simple and easy to adjust the numbers. https://www.bankrate.com/mortgages/mortgage-calculator/

But as @Chris Seveney suggested garage in and garage out when it comes to any calculator you use. So make sure you have accurate date. Especially when it comes to annual property taxes and annual landlord insurance policies. 

@Roman A Sandler I have been helping fellow investors buy & sell here in the Dallas/Ft. Worth area for many years. Yes, prices are coming down here as inventory slowly trickles back up to to pre-COVID levels. But it is still a sellers market. So you need to work with an agent that has a pulse of what to negotiate for you in a deal. Also, based on my experience there are many areas in the Dallas/Ft.Worth area that make for great rentals. I am consistently helping my investor clients purchase move in ready 3/2/2 SFR's here for less than $300K. I personally continue to buy rentals here. Its getting better and better each month to purchase rentals. And the trend is continuing in that direction here based on what I am seeing. Hope this helps.

@Karan Shah Plano is definitely in high demand. But If you looking for a long term SFR rental (3/2/2) you will have to spend anywhere from +$350K to find a move in ready rental in Plano. I recommend to my fellow investor clients many other areas in the Dallas/Ft. Worth area where you can easily find move in ready 3/2/2 homes for less than $300K with strong rents and low days on market. I will be happy to help you with your search. Just let me know.

@M Edouard I agree with other comments. I don't like to send "MLS Drip" messages to clients if there isn't specific criteria for the search. I The specific data is dependent on their exit strategy and their max spend. Changes to the custom search are easy to make. That is why they are called custom searches. So don't understand why your agent is willing to make changes. But agree third party real estate web sites don't update status changes of a property based on my experience.

@TJ Bardossas I can completely relate to you. I grew up in a single parent household. So I literally fought my backside off by enlisting in the US Army in order to earn college degrees. But real estate investing is the way to go. Best decision I've ever made for me and my family. I am glad I did. Suggest you work with another agent/investor like me that can help you navigate REI and avoid the pitfalls. Dallas/Ft. Worth area is a great place to invest. Much less than NYC. And landlord friendly laws are key if your looking to buy & hold. Which is what I recommend for beginner investors. Baby steps is the key. Get five deals in any one exit strategy before branching out into others. If you decide on more than one. But you need to get over analysis paralysis. You can't win unless you play. Hope this helps.

@Jamal Moore Yes, I have had many clients list wholesale deals in the MLS here in the Dallas/Ft. Worth area. We call it "wholetaling" (pronounced Hoteling). You just need to make sure that the list price of your property is well below 70% of ARV to ensure wholesalers or fellow investor end buyers will be putting forth an offer. But recommend you work with a fellow investor/realtor with regards to the listing. Hope this helps.

@Ed O. First I recommend you change the bank you do business with. Find a true community bank to move your business to. If your exit strategy is Long Term Rentals (LTR) eventually you will have to go to commercial loans to acquire your properties. The FDIC has a search for true "community" banks: https://www.fdic.gov/resources/community-banking/search/cbi-...

Keep in mind there are rules these banks must follow in order to qualify as a true "community" bank. You can do an internet search as to what they are. But suffice to say any major bank, such as BOA, or credit unions I recommend you avoid. Now I can't speak for verifying funds, etc. But now you have some additional questions to ask the community banks that you interview to move your business too. Also, if you let us know where in MO you can ask for community bank recommendations in your area. I work in the Dallas/Ft. Worth area and can recommend one here that has been phenomenal to work with. Hope this helps. 

@Victor Nguyen Moving forward when you post on BP please let us know what area you are interested in investing. That way you get specific advise from fellow investors in your area. For example, here in the Dallas/Ft. Worth area Single Family Residents (SFR) are easier to come by than multifamily properties. Thus, based on my experience you tend to overpay for multifamily properties versus SFR's. But I ensure to run the sold and rent comps for my fellow investor clients so that they can determine cash flow. I personally own both here in the DFW area. So depending on how good the numbers are and if seller accepts my clients aggressive offers play heavily into the strategy. I can only suggest you can't win unless you play. Which means putting forth as many offers as you can to get the right deal accepted. Hope this helps.