All Forum Posts by: Jon Shoop

Arlington/Fort Worth would definitely be your area of focus. DFW does not have a large number of small multifamily properties. Our current market has pretty low inventory right now. It's a very competitive environment. Every property is getting multiple offers. The key is to be ready to execute when you see what you want. As you probably know, offers without a prequalification letter will not be considered. Good luck in your search.

I agree with Rob. Dallas and North Dallas are probably out of your price range if you want good returns. I might even look towards Forney but Ft. Worth and areas west I think are hotter than east of Dallas.

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Hey Angelina! Welcome to BP! I'm somewhat new here too but I've definitely been learning a lot. Dallas and Fort Worth are great markets for BRRRR! I'll be working on my first by the end of the year as well. Looking forward to seeing your success!

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I'd love to find out more about this as well! Digital meetups/happy hours work too during this weird time. @Hayden Harrington I'll check out the Facebook group!

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Originally posted by @KIran K.:

Originally posted by @Jon Shoop:

Great lesson learned! Contractors are very hard to get a good read on.

There's enough scammers out there lol we just gotta make sure we protect ourselves and do our due diligence ..

DEFINITELY. I almost got scammed right after college when I was living in Barcelona from a Craigslist apartment ad.

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Originally posted by @Erickson Sainval:

Are they worth the headache? A situation like that I would be quick to take the necessary steps to move on.

Well said. I'm sure in DFW we have the same issues any major metro area does with tenants like that.

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Great lesson learned! Contractors are very hard to get a good read on.

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Originally posted by @Jordan Moorhead:

@David Smith usually not an option if they're in a lease. The owner can offer to buy them out but they don't have to take that.

@Eleazar Aragon you can ask for proof of rent. There are multiple ways they can get this to you. Contrary to media belief, most people are paying right now. I haven't missed one rent payment on the 22 units that I own.

I second these. We haven't had many (if any) missing tenant payments in DFW, Dallas, Fort Worth, etc.

Current owner should be able to provide you with rental collection info contingent to the deal.

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This is great information! Congratulations on the successful house hacking. That's pretty inspirational. Do you manage all your properties yourself?

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I know of a great GC here in DFW. She has done projects in both Dallas and Fort Worth. I'll PM you details.

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Originally posted by @Vik J.:

I don't think no COVID or Ebola or even WW3 can stop the influx of people to Austin. It's one of those cities that has everything - good night/downtown life, amazing neighbourhoods, brilliant family friendly school districts and lots of space. And a rich technology sector to boost. And good restaurants. Other than the terrible 90F+ Texan weather, everything about Austin is fabbo.

All very much true!

One thing you're missing is traffic. MoPac and 35 are horrendous at any given time of the day and they're the only real N/S highways around Austin. It's one of the only real major drawbacks I found in Austin.

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Austin, Texas

All Forum Posts by: Jon Shoop

Jon Shoop has started 1 posts and replied 103 times.

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Post: Worst FIRST FLIP: LOST OVER 100k

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