All Forum Posts by: Joe Funari

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.

John, all of my rentals and personal residence are in Tarrant County. So I know TAD and the protest process very well and have a 100% success rate disputing my property taxes on all my properties. Send me a PM with your e-mail and I will foward you my strategy and links to pull public data to help support your argument.

Shane, Michael is right. It usually depends on where you reside. Texas requires you to be a resident in order to get your RE. But every state has their own licensing requirements. So perform your due diligence. Any way you start your REI career you can't go wrong. But I recommend buy-and-hold strategy.

Ross, in Texas you have to have a real estate license to either run and operate a PM or close on transactions on behalf of other clients. It is the same license, requirements, etc. I know my PM, a fellow investor, hangs his hat with Fathom Realty. They are nationwide and very flexible with investors from what he tells me. But that is on the Realtor side of the transaction. Hope this helps.

Meron, I would be happy to talk to you about your needs. Just give me a call.

RJ & Jason, Reach out to Sarah Gililand with Freedom Title GGW, PLCC Law Firm. She has been very helpful to me whenever I need legal advice regarding real estate investment deals, freedomsouthlake.com, Let her know I referred you. Also, a great title company to have on your team too.