All Forum Posts by: Joe Funari

@Paul Ronto Your Accountant will sure love it too. Easy to download the reports and send it right over. My accountant advised two most audited items are meals/entertainment & mileage expense. This app solves that problem for sure.

@Taylor Patterson Killeen is adjacent to Ft. Hood. One of the largest U.S. Army installations in the country. I would recommend investing in rental properties. If you can get duplexes even better. You can't go wrong with SFR or multi-family.

@Travis Knight I know a great CPA here in Texas that specializes in real estate. He also knows how to perform cost allocation studies on rentals when you need them. He is based here in the Dallas/Ft. Worth area. But when works with out of state investors. Send me a PM and I will send you his contact info.

@Jack Harris Also, recommend downloading the Mile IQ app to easily track your mileage driving to all your rentals, Home Depot, etc. Good way to track them to deduct them. You will need it.

@Mushtaq G. Send me a private massage. I will get you contact info for my HVAC guy. He is investor friendly and will be honest with you weather or not a unit needs replaced. Last summer I had an a/c unit in a rental that was on its last leg. He cleaned it, checked to ensure freon was fully charged. He told me it would last another year. He was right almost to the day. But has great pricing on new equipment too.

Jose, each state is different when it comes to advertising. So perform your due diligence. Here in TX i have two separate cards. Direct mail for my REI company i do not disclose. However, when I first meet a direct mail customer i disclose to them immediately i am a Realtor. And in any RE contracts I disclose as well. One piece of advise I was given was disclose down to your underpants. So in my opinion you can't "over" disclose.

My experience is most lenders, especially Community Banks that have their in-house underwriting establish ARV thru appraisals they have done on the property. If you get a distressed property under contract that is well below the LTV some community banks will role the additional into the note at closing and allow draws against it when you close and rehab the property. In a sellers market if you get such a sweet deal there are always repairs. My last such deal I spent more than what the acquisition price in repairs. But my acquisition + repairs was well below ARV. So it was a great investment.

Phillip, also look to see if there is a local real estate investors club near  you. They typically meet at least once a month and great way to network with other investors as you discover the many different ways to make money in real estate. Good luck to you. I wish I had invested when I was your age.

Jibran,

Heard Keller Williams in Arlington was pretty good. A lot of people i know have joined their team. But i know a fellow investor/realtor that works out of their Southlake office that can give you some guidance too. Doesn't matter what office you work out of with them. Plus you dont have to join a team. Also, my closest friend works for Centurhy 21 Mike Bowman in Grapevine. Only one office but you can work anywhere in the DFW area. Suggest you narrow your brokerage down to 3 and request to go in the office. Particularly, when all the agents are in for their weekly meeting. It's really about how you connect with the people that work in the office. Good luck in your search. 

Ashley, I am first a real estate investor. But also a Realtor. The reason I became a real estate agent is to purposely help other investors acquire investment properties here in Texas. It is a wonderful market for both buy-and-hold and flip strategies. I have personally done both and have been very successful. So now I help my fellow investors acquire additional properties. I understand your frustration. The markets you mentioned I have personally lived in all of them and a great for investing. Problem with most realtors is that they have been conditioned to work the "traditional" real estate transaction. They fail to understand cash-on-cash, cap rates, etc. I don't require my clients to sign an agreement to work with me. I have been very successful at finding both MLS and "off market" investment properties for them. They use my services to submit offers. I don't mind submitting 10 offers a day and only one gets accepted. I am an investor and come from an abundance mentality. There will always be another property that will meet my clients needs down the road. But you can't win unless you play. So comps, bids, etc. take me only a few minutes. MLS systems in place here are really good. Oh, and congrats on your masters thesis. Been there done that twice. So I understand your pain.