All Forum Posts by: Michael Dennis

@David Balogun I have done this is my market, but you should keep a few things in mind. Know your market, know the laws for your market, and know your buyers. Some state contracts don't allow you to assign the contract and some do. But like everything else in real estate, there are ways to get around not being able to assign the contract. Also, some buyers don't like "on market" deals and some do. I have had buyers tell me they only want off market deals and I have also had buyers tell me that they could care less as long as it fits their criteria. I will say that on market deals can add a extra layer of its own issues, but it is definitely possible to do. You may want to start with finding a realtor that you can build a strong, professional relationship with and start from there. In my opinion, off market deals are better, but you can find hidden gems on the mls. Let us know if you have any success with this, best of luck!

@Wesley Van Steenbergen I'm actually looking to do the same. I've been looking for a duplex in Dallas for a while now, but they seem to be hard to come by. Most of them are over priced, especially on the mls. I have shifted my focus to finding off market duplexes and even 3+ bedroom SFH that I can house hack.

Only time will tell what will happen in this market. As far as I can tell, people are still doing deals and buying houses. If I find a property where the numbers work, I'm jumping on it. 

@Nick Taylor I can definitely relate! I am also new to real estate investing here in Dallas. Towards the end of 2019 I started doing as much research as possible, reading as many books as I could, and listening to podcasts and audiobooks daily. That definitely helped me build a solid foundation. In the beginning of 2020 I started going to local meetups frequently and trying to network with any and everyone. Now I’m also looking to house hack a property in Dallas. My goal is to find a duplex but that’s looking to be a huge challenge in this market. But I’m definitely not giving up on the goal. I look on Craigslist and other avenues for distressed properties on a regular. In the meantime, until I find a good sfh or duplex, I am wholesaling to build up some reserves and also build my network with other investors in the area.

From one new investor to another, I would say just keep pushing. Continue to learn every day, but also be sure to set out time to network with other investors, realtors, hard money lenders etc. You never know, you might just across a good deal through your network.

As far as books go here are some of my favorite books (real estate and non real estate related):

-Rich Dad Poor Dad (of course)

-The Book on Real Estate Investing with Low and No Money Down

-Finding and Funding Great Deals (I’m going through this one right now)

Non Real Estate Related:

-Principles by Ray Dalio

-Relentless by Tim Grover

-The Alchemist by Paulo Coelho (this is my all time favorite and read it twice a year)

Would anyone know if these title companies are still recommended for wholesalers? I'd appreciate any information! 

@Adam Mitchell & @Seth Jamison
I'm local here in DFW and I'd like to connect with you guys as well!

@Cameron Smith

That's great to here man! A deal is a deal nonetheless, and you've got your first one under your belt!

@Cameron Smith

Did you ever get that deal under contract? I'm interested in hearing how that went! I'm new to wholesaling here in Dallas, Texas as well. I usually travel pretty frequently, so I'm also looking into virtual wholesaling.