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All Forum Posts by: Tom Lafferty

Tom Lafferty has started 22 posts and replied 224 times.

Post: New Member from the Dallas/Fort Worth area

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Welcome Michael, I'm in a very similar situation to you, with similar goals. Given those goals, you should definitely get in touch with Jerry Puckett.
Which reia have you been going to? I've been to a few, and am looking into a few others. Would love to hear feedback on your experience with that.
My guitar teacher is a closet real estate investor too-- what's up with you guys?

Post: Hot Dallas Submarkets

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

I suspected that's where it was. I'm currently sitting a few hundred yards from there, at work. I'm in all the apartments around there on a regular basis so if you need any specifics on what goes on there let me know. If the transit oriented development that the city is banking their future on pans out, it could be a great area. If not, they seem to stay full so management/maintenance issues might be your best bet for improving operations.

Post: Hot Dallas Submarkets

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

What part of Carrollton are you looking at? Not too much small multifamily other than a few duplexes.
+1 for keeping us posted. I'm in a similar boat, had lunch with Jerry Puckett and hope to be working with him soon. Also looking at 30+ apts, seems like a lot of competition right now.

Post: should I keep the pool or have it filled in?

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Plus the fact that things are selling so fast around here you might get someone who isnt specifically looking for a pool but will buy if they like the house. Happened to us when we bought our current house.

Post: Any recent wholesale success stories?

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Sam Craven, three in the first six months sounds pretty good! If you don't mind me asking, how busy were you in order to land those first three deals? Were you responding to leads constantly, or was it less hectic than that? I know everyone asks this, but its great to hear different accounts.

Post: Any recent wholesale success stories?

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Thanks for the input guys.

Post: Any recent wholesale success stories?

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Nice to hear it Tim G., sounds pretty nice! Would you mind giving a quick idea of what you mean by non stop grinding? I think if Im really honest, my biggest fear is what the day to day will be like. I don't mind hard work, and I'm fine with no results for a while, but I want my expectations to be in check. I don't need any income right now, I'm looking to replace my income in about 4 years or so. The problem is that if I'm going to have to work 60 hrs per wk to make one or two $5000 assignment fees per month, I'm better off continuing my current job. I cant imagine that would be the case, but I've heard some horror stories...
I still like the idea of doing my own marketing, since I can pick and choose the best to keep and rehab or rent, I just don't know enough to set expectations.

Post: Any recent wholesale success stories?

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Are there any out there that started wholesaling with no experience and had a decent amount of success after a year or so? I'm dying to try it, as I have a lot of time, and can commit to a decent marketing budget. I've read the "truth about wholesaling" thread, and I understand it. The problem is that it became a "dont be a bad wholesaler" thread. Theres so much negativity surrounding it, and so few stories of success that I thought I'd ask. I'd like to have the option to rehab as well, and possibly buy and hold, but with the lack of inventory, it seems like I'm going to have to do some marketing anyway. We're looking at buying an apartment complex as an option too, which could take a year to find, and wholesaling would be a great thing since it would affect my financing with the apartment lender.
If I do it, Im going to have Jerry Puckett run the campaign to make sure its done right. I'm just having a hard time getting over how few people seem to make a go out of it.
Any beginner success stories would be appreciated!

Post: I am a rookie

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Marco Santarelli, I originally got excited about creating passive income with SF rentals. When I discovered how tight the market had become for being able to buy equity, I started researching multifamily. Now I'm trying to decide between buying a 20 or 30 unit apartment, putting together a group to buy a bigger apartment complex, or starting a direct mail marketing campaign in order to find SF properties. Too many options....

Post: I am a rookie

Tom LaffertyPosted
  • Plano, TX
  • Posts 226
  • Votes 156

Congratulations on your properties! I'm in Plano as well, am having a really tough time trying to decide how best to jump in to investing; thats awesome that you found two rentals.