All Forum Posts by: Mark S.

Hey @Leo Chen,

Congrats on finding a property out in Katy, it is a good area.  Sounds like you are getting an OK rate, maybe a little high.  

In most cases you will not be able to close under an LLC. The reason for this restriction is most of the secondary market will not purchase loans which are in the name of an LLC, they want to have a responsible party attached to the loan rather than just a company. The majority of the guidelines lenders have for your loan are determined by the end state investor rather than the mortgage company itself.

For flood insurance you are not required to get it everywhere.  You will get a Flood Certificate which will show if your property is within a flood zone.  This is usually obtained from the Title Company prior to closing.  If you are indeed in a flood zone then you will be required to have flood insurance, if you are not within the flood zone then you dont have the same requirement.

Hey Everyone!  I hope you had a great weekend.  I made the reservation for our lunch meet up at Henry's Tavern at the Shops at Legacy.  The plan is to meet there on Wednesday at 12p; 5741 Legacy Dr #100, Plano, TX 75024.  I hope to see you all there.

For everyone who is new to the thread we have a meet up for real estate investors in the Collin County area, specifically Plano, Allen, McKinney, Frisco, Dallas, Carrollton and the surrounding areas.  Usually we have some great discussion and a good mix of experience levels.  

I hope to see you there!

Thx

Hi @Chance Johnson

It is exciting you have taken your first step towards getting an investment property. I do loans in the DFW area and have a branch partner who specializes in 203k loans. If you would like to get some more information let me know. 

The loans tend to be a bit more complicated so it is best to get someone who does the 203k loans regularly. 

Thx

Hi @Andrew Jones,

Welcome to BP and real estate investing in the DFW area.  It is a great place to be, although it is a pretty competitive market.  BP is a great resource to get a good education and get inspired about taking the next steps in your journey as a RE investor.  I recommend the podcasts a ton, they give a great overview of almost every subject in RE investing and allow you to find something which lights a fire in you.

If you're interested in meeting face to face with some other local investors I have a meet up on May 18th in Plano at the Shops at Legacy.  I will include the link below.

Best of luck to you!

https://www.biggerpockets.com/forums/521/topics/28...

Hey everyone,

It was my impression you could get in trouble for using the TREC forms if you werent a realtor.  Is this incorrect?  A friend of mine got yelled at by a realtor when she tried to use a TREC lease without being a realtor....  unfortunately the parents of the kid signing the lease was a realtor....

Hi @Percy N.and @Lucia Rushton

Welcome to the DFW area.  I hope you have some luck finding a great place here.  I agree with @Derrick Houston Carrolton is a great area.  It has good schools and tends to be much cheaper than the bordering cities.  You can get some more bang for your buck when comparing Carrolton to Plano.  I used to live in McKinney as well and had great experience there, the only downside being it is kind of far away from everything.

Best of luck on your search.  If youre interested in meeting some other investors I have a meetup a week from Wednesday on May 18th for lunch.  I will include the link below.

Have a great week!

https://www.biggerpockets.com/forums/521/topics/28...

Hey Everyone,

Welcome to BP @Petra Dennis!

I do have a meetup and the next one is May 18th in Plano at the Shops at Legacy.  Your welcome to join if you are interested.  I will include the link below.

Great to know about your meetup @Sherry Patterson.  I would love to come to the next one!

Thx

Hey Tom,

Welcome to BP.  Youre right the DFW area os very competitive but there are still great deals to be had if you know where to look and are persistent in your efforts.  I wish you all the best.  I have a meetup in Plano in a couple of weeks.  It is a great opportunity to meet some other local investors and get some on the ground information.  

Our next meetup in May 18th at lunch.  I will include the link if you are interested.  Best of luck to you!@

https://www.biggerpockets.com/forums/521/topics/28...

hey everyone,

I am here at Ra Sushi on the patio in a green shirt. If you ask the girl at the front she knows where we are.  Thx

No worries, thanks for letting me know.  Looking forward to seeing everyone else tonight!