All Forum Posts by: Mathew Geevarghese

Hello BP

Looking for some guidance from investors that have or had homes with an in-ground pool;  specifically in Texas or even more specifically in DFW area.  Looking for some local feedback mainly due to the rental laws in each state are different & Texas seems to be an investor friendly state.  We have a few rentals in Chicago, and would never entertain renting a home with a pool there.  

We recently came across our first home with a good size in-ground pool that is in very good shape.  The landlord in me wants to fill in the pool due to the 'possible liability'.  The long term investor in me wants to keep the pool as the resale value of homes with pools in the area are quite a bit more than without.  

I have seen some general documentation online to have the tenant sign a waver form and attach it as an addendum to the lease; similar to what tenants at an apartment complex would sign for use of common exercise area / common area pools.

Any feed back from investors / attorneys that have some experience dealing with SF rentals with Pools would be greatly appreciated!  

Thank you!

@Michael Lee.  Thank you!  I am not expecting to find rentals in Plano, possibly a flip or two if the numbers work.   As you said Plano is extremely over priced. I am hoping to connect get connected with a few bankers/ mortgage professionals that may offer this type of loans.

Good Evening BP.

What a Great Superbowl. We almost turned it off after the 3rd quarter.. Glad we didn't..

I am a fairly new Investor in the DFW area. I've been involved in REI for a few years in Chicago. We recently moved to the Dallas area and starting to look for investments in SF and small Multi-Family properties. We will be closing on our first SFH in DFW in a couple of weeks and hope to have the home rehabbed and rented in about 2 months. In anticipation of this, I am trying to connect with local banks that have Commercial loan products that would allow us to do a Cash out refinance as soon as the place is rented out. Preferably 75 or 80% of appraised value after it has been fully renovated and rented. The purchase and rehab would be done with cash.

Thanks for any guidance you can provide.

Good Evening BP.

What a Great Superbowl.  I almost turned it off after the 3rd quarter.. Glad I didn't..

I am a fairly new Investor in the DFW area. I've been involved in REI for a few years in Chicago. We recently moved to the Dallas area and starting to look for investments in SF and small Multi-Family properties. We will be closing on our first SFH in DFW in a couple of weeks and hope to have the home rehabbed and rented in about 2 months. In anticipation of this, I am trying to connect with local banks that have Commercial loan products that would allow us to do a Cash out refinance. Preferably 75 or 80% of appraised value after it has been fully renovated and rented. The purchase and rehab would be done with cash.

Thanks for any guidance and into you can provide.

Hi BP members - I recently joined BP and this is my first post. Sorry if this end up being a bit long.

Just to give a brief intro before getting to my question...

I am an investor that recently moved to Plano from Chicago. I have worked in corporate America in the Steel and Auto industry for over 20 years in various roles from Design Engineer to Operations executive. I started my hand in REI about 2 years ago and have been blessed to have done 2 flips and 10 Rentals in 2 years, basically using the BRRRR process. We have a good team in place in Chicago and would like to build a solid team with like minded individuals that are looking to build long term relationships in the DFW area. As many of you can attest to, this business has more than its share of scammers that are looking for a quick $ at ANY cost as well as Great people that have unwavering moral fiber that keeps them honest and conduct business ethically with a win-win for all involved.

We intend to continue doing business in Chicago as well as the DFW area

Now to my question..

Has anyone had good experiences with a wholesaler and have done repeat business? I recently met with an agent from Networth Realty and have a meeting scheduled with New western for later this week as well.

I have read a few threads on Wholesalers in the DFW area but haven't really found any responses from Investors that have actually purchased multiple properties from a source; Only the standard advice to not trust the Rehab and ARV estimates and do their own detailed due diligence.

Maybe the case is seasoned investors buy one and never do business with them again due to their bad experience and the wholesalers are able to get enough new clients that buy one or two to keep them afloat.

Any guidance would be appreciated