All Forum Posts by: Account Closed

Hi Jason,

Nice to have you join BP and DFW is a great place to be. What sized multifamily are you thinking of jumping into?

Unless you're in a one-light town, don't pay attention to saturation, it's a metric that's not worth the headache and too vague/subjective to properly track.

Real Estate is one of the only areas where professionals not only practice insider trading but actively encourage it.  You need to go network with anyone handling product in your market and become their best asset. These are the people that will hear about listings long before you do and if you take care of your brokers and lenders they'll take care of you.

I don't know how complicated your will is going to be, that's entirely dependent on you; however, my colleagues have used Legalzoom to great effect. Especially helpful for setting an LLC up (in and out of state) quickly and without hassle. Might be a little faster and easier to look into that.

Money and Time are both in short supply and I'd very much like the freedom to spend mine as I like.

Depends on how well you or you're property manager are willing to vet your tenants.

The biggest pro to C properties is that if the market turns or someone wants to save money they can always downsize to your level. So they can be very solid investments when managed correctly.

I know a couple of solid agents down in SA. 

Send me a PM and I'll be happy to make an introduction.

1. What state are you looking to purchase in?

2. If you feel your funding is solid and have an idea for what you want to buy, then your next step is making friends with the Commercial Brokers in the areas you're interested in. A good broker with have connections to architects, contractors, (In Texas I legally cannot suggest an attorney) and the like.

Don't use residential agents who "dabble" it'll just waste your time (or worse). Find an agent who specializes in commercial sales.

Generally (this is especially true in CRE) if a property is on a site like Zillow it's already run past a number of investors. Buy the agents that run the neighborhoods you're looking to purchase in a coffee and tell them what you're looking to buy and how you like your numbers to work. If you're good to the agent they'll be good to you...and will have their hands on a lot more pocket listings then you could ever have on your own.

If all parties agree you can null the original contract and establish a new one.

Alternatively, if there's no clause against sub-leasing then that could be an easy solution...just make sure the original tenant knows that if their replacement doesn't pay rent then they (the original) is on the hook for those funds.

I'm happy to see another guy who's from Hood here. I wish I bought while I was Active...would've made life a lot easier. 

If you do buy now, I would suggest buying property at one location, the reason being that you only need one property manager. There are pros and cons to leasing to Military such as knowing exactly how much your tenant makes...of course you might not like the risk of your tenant cutting their lease so it'll depend on your comfort level.