All Forum Posts by: Kevin Brown

at this point mls deals are non existent in dfw

Rick

Yes. They built most of the single story rectangle shaped 1000-15000 sqft houses in the late 60s through 70s you see all over dfw. They got bought out by someone and I cant remember who. Might be Centex homes

Here in DFW, you should be able to turn $15% into much more than $100 cash flow and a section 8 tenant. The average Fox&Jacobs house that sells between 60-$75k will rent for $1100+

From the way I understand the system, you cannot do that. Im sure other folks on BP will have more knowledge but I think if the money goes directly into an account which you solely control, that's a violation

@Christopher Hydrick

Try to find a private local bank. These banks tend to hold the loans in house, and therefore tend to be able to look at deals more objectively since they don't plan to sell the loans . Here in Dallas, there is no shortage of banks who will lend on basically any deal that makes sense, and allows them a chance to have some equity

Id just let them leave on the 1st. Realistically nothing they did was a big deal and if you evict them you probably wouldn't get a new tenant in there before May 1 anyways

Welcome Robert

DFW in general, and Tarrant county in particular offer great ROI on buy and hold deals. The key in DFW for buying houses "right" is generally market timing and hitting your rehab numbers. The unstable soil around here can cause foundation/plumbing/ roof costs to jump quick if you under estimate. BP is a great place to learn and network

Welcome, from Denton County (I live in Carrollton)

Theres a million ways to invest in real estate, and just about all of them are represented here. DFW is one of the best places in the country to invest in, so take advantage of that!

Mike

I didn't really touch on this in my first post. If it were me, I wouldn't mess with the foundation. Theres a good chance the tenant you have in the house will not keep up with a foundation watering program (even if the house has a sprinkler system, they probably wont use it), If you level the foundation now, youll still probably need to make additional repairs when you go and sell for retail in 5 or 10 years or whenever. Id wait, and then that way if you do break pipes when you lift the slab, you were probably going to be updating the flooring before you sell anyway

Just my opinion though

Andrew

I would say find a way to get a good contractor and realtor out there. I could be wrong, but the investor market for a property like this is probably not going to bring you the best options. Id definitely beware of wholesalers (there is plenty of info here on BP regarding that style of investing) if any of them try and make you an offer on something like this. Wholesalers can be a great resource for a seller but probably not in your case