All Forum Posts by: Scott Reese

@Travis Lemley Thank you Travis! I really appreciate it

@Lucia Rushton @Harry Nima Zegarra Thank you both for the advice. I have definitely been working on growing my network these past few weeks, and a lot of what I have learned so far has been through these new connections. Seems like the answer to my question will become increasingly more clear as I talk to more agents, investors, landlords, etc. So that's what I will do!

@Rob Lee @Nick Brown @Andrew Postell Thank you all for replying to my post so quickly! I definitely should have provided more detail in my post. I am looking to purchase a single family home (or potentially a duplex if the price is right) somewhere in DFW. I intend to hold the property into the foreseeable future and use it as a rental. My maximum price is $250k, although I would certainly prefer to find something around $150k. My targeted tenant demographic would be working class families or really any group of hard-working people. From what I have seen so far since I recently began searching, Fort Worth appears to have a greater abundance of potential deals. However, FW is obviously a big place and I could definitely use some advice regarding which neighborhoods are worth looking into and which ones I should avoid. The same goes for the Dallas area as well. 

Rob, I do not yet have an agent but am currently considering a few individuals. I will certainly include you in my considerations!

Hope my response here now provides enough information. I truly appreciate yall's willingness to help me out. I'm so glad I discovered the BP community!

Hi all,

I'm a new real estate investor in the DFW area. I'm beginning my search for single family homes to purchase somewhere in the region. I currently live in Plano, TX, so the closer I can grab a deal to Plano the better. However, I am open to purchasing properties as far as Fort Worth. Being so new to the area, however, I still do not know which specific areas or neighborhoods around DFW that are good locations in which to buy (low crime, good schools nearby, fair rent, etc.). Any advice or suggestions on this topic would be greatly appreciated!

@Kyle Mccaw I will definitely be in contact with Andrew in the coming weeks and months as I begin preparing for my first purchase. Thanks for the response!

@Andrew Postell Wow thank you so much for all that detail! It all made perfect sense. I especially appreciate the list of questions you provided which I should be asking potential lenders. One follow up question I have is do you have a list of recommendations for good local lenders in the area I should consider? I obviously understand your bias being a lender yourself (and perhaps I'll be lending from you!), but I would certainly benefit from having some options that I can look in to. Again, thanks a ton for your response!

@Joe Funari Thank you for the response! My investing strategy at this point is definitely to buy and hold. I'm also not looking for major fixer uppers. If I find a property that needs $5,000 to $10,000 worth of cosmetic updates/repairs, then I would be okay with that. And it sounds like those kinds of fixes would not be very problematic for smaller regional banks. So I'll definitely be looking to get financing from them!

Hey yall,

As a brand new real estate investor, I'm in the process of assessing my options when it comes to financing, contractors, insurance agents, etc. in the DFW (Dallas Fort Worth) area in Texas. I've read that it can be more difficult to finance deals through loans from large, national banks like JP Morgan Chase or Bank of America. Supposedly, smaller regional banks can offer more flexibility on things like the size of the down payment required and quality of the property being purchased. Is this true? And if so, does anyone have experience with or know of any regional banks in the DFW area that are great for financing real estate investment properties?

@Fernando Arocho Thanks for replying to my post! Awesome that you're also in the software game as well! I'll take a look at that event you're attending on Tuesday, but if I'm unable to make it, I'd definitely be interested in meeting up at another event or just some time when we're both free.

Howdy! I'm Scott, a recent college graduate from UC Berkeley who moved out here to Plano last August where I currently work as a full-time software engineer. Investing has become a passion of mine, and I initially got started with stock market index investing and options trading. Now I've just started my journey with real estate! I have a lot of learning to do before I'm ready to purchase my first property, so I'm currently looking to network with other investors or real estate newbies like me. I'm very hungry to learn as much as I can and meet some great people to help me with my goal of purchasing my first property by the year's end!