All Forum Posts by: Josh R.

The popular thing in DFW seems to be having an investor open house. The property is marketed to your buyers list with a specified date and time that is pre-arranged with the tenant to allow access for an hour or two. You can get many buyers through and sometimes generate a bit of a buying frenzy in the process if it is a hot area.

 Are they covering the entire cost of purchase+rehab?

@Shawn Thom looks like you have a good head start on this one. What is your timeline to complete the repairs?

I also make everyone an offer. I have had numerous people reject that offer and then come back months later asking if I was still interested or respond to the drip campaign ready to sell at my price. 

Just bought one this past week who told me he wanted 75k and was not flexible. I told him I would be somewhere in the $50k's and if anything changed to call me. That was two months ago. He called me back last week wondering if I was still interested and we ended up agreeing on $56k. 

I believe the Real Alliance is geared towards getting rookies in the door with a free seminar (meeting) then attempting to sell you a 3 day training program that costs around $1,000. They focus heavily on Sub-2 from what I understand.

Here is the link to the most recent meetup thread

There is also a Facebook page HERE

To my knowledge there is no limit on income only a limit on loan amount which should not be a problem here in DFW due to our low housing costs compared to other places in the country.

Welcome to BP and Ft Worth! Looks like you are in a good situation to purchase a multiplex as an owner occupied investment. This will give you experience landlording up close and also allow you to get in the game for little cash (3.5% down FHA loan)

There is a large group from DFW here and there is a local BP meet up in Irving every month. Stay connected on here and your network/experience will grow by leaps and bounds!

@Joseph Murders I have personally found that meeting the seller at the property when I am doing my inspection is a great time to build the all important RELATIONSHIP. REI is a people business just as much or more as it is a numbers business.

While I'm sure you can outsource this aspect of the process it definitely puts you at a disadvantage relationship wise to other wholesalers/investors.

Is your repair estimate based on rehab/retail or rehab/rent?

Typically you wouldn't do the same type (price) of rehab for both.