All Forum Posts by: Kevin Brown

Sounds like your friend got burned by a professional tenant. He will never see that money. At the end of the day, even if he did have a lease to enforce, and was awarded a court judgement; if the tenant never has the money to pay it will never get paid

Welcome to BP

Its snowing in Dallas today, so we might all be frozen to death when you get here... but in all seriousness, Dallas is a great place to invest. The market will be in full swing when June rolls around so get ready to fight for deals. They are out there though, that's for sure

Best of luck!

Im no MFH genius, but from where I sit a 12% cap rate is a 12% cap rate. Not sure why you would have a tough time selling that. Especially if theres room in the rent market to increase rent by upgrading the units as the tenants leave. No reason to be worried about dated units if you built that into your purchase price, which it seems you did.

Bandit signs are basically blind marketing. Your not specifically targeting anyone, much less motivated sellers. The whole point of bandit signs is theyre cheap, and people see them. Thinking your going to get quality leads from them is silly. You can only hope to generate enough volume that law of averages eventually works in your favor and you get a good lead. Some areas will be better than other for lead generation from the signs, and the beauty is they are so cheap you can afford to play around with them for a little while

Gabe

Welcome to BP. Those properties cash flow very well, quite a few folks here will be very jealous. It sounds like your start was similar to mine. Continue to be patient, wait for the right properties, don't force deals just to have more deals. As long as you are buying the houses right, and show your ability to put find good tenants, and manage the properties like a business, Im sure you will be able to keep finding banks to do 30 year notes with 25% down. Very similar to how my deals look

If the tenant is willing to leave the house clean and rent ready, I say just let them go on good terms. If the Aunt and Uncle don't qualify, you wont have much trouble finding a good tenant (considering your in FTW)

If the lot is in a neighborhood, and its only use would be a SFR, you need to determine what the home would be worth if built to the same standards of the existing homes, and subtract build costs. The lot is worth what a builder would pay for the lot in order to put an SFR on it

I have never been to a seminar, and that's mostly because I try to focus very closely on what I do specifically in my business. If there was a seminar abut marketing direct mail to specific neighborhoods under $200k, Id probably attend and pay for it. I could very well be wrong, but I feel seminars cast a wide net, and as much as learning more about REI cant ever be a bad thing, I don't feel Id get enough out of a the average seminar to make it worthwhile

@Jerry Gurley

Did the City grant your freedom of information request? Was the information accurate?

I have a Chase INK card. The cash back is pretty solid, which is why I use it. I have my own system for accounting/expense management so I cant speak much to the expense management features of the card that most people seem to like. My one complaint would be charges seem to be a little slow to post to the card. My wife and I use a Chase Freedom card for our personal expenses, and that card posts almost immediately, the INK card is usually a day or 2 delayed.