All Forum Posts by: Mark R.

Hi Sean, welcome to BP. You should start speaking with potential brokerages whenever you are almost ready to jump into this one-of-a-kind industry. I would suggest also considering a team. You'll be wanting to evaluate what tools, training, and access to a mentor you'll be able to obtain. The #1 trait that correlates with success (in my experience) is drive. Very, very rarely do good things just happen to people sitting on their hands in this business. If you want to chat, send me a DM. I'm a broker (in TX) and have a lot of experience with rentals/flips.

2 Votes

Tulsa, Oklahoma

It is a very interesting area but as you said there is no shortage of land for residential development along 75. The main question (in my opinion) is about the number of jobs being created there. For many households, it may be beneficial to live closer to southern Collin county job centers.

Check this out if you haven't already:

https://www.ci.sherman.tx.us/1227/Comprehensive-PlanI

0 Votes

Hi James, welcome to BP. DFW is still growing and the people keep moving here... it feels like a solid market! Real estate in Germany is very interesting in the last year or two from what I've heard.

0 Votes

Dallas, Texas

Hi Jason, welcome to BP. Looks like you are in Burleson? This is just my opinion, but now is probably a good time to jump in for a new agent. There seems to be a bit more enthusiasm and optimism for 2024 than there was in late 2023. We shall see. DM me if you want to chat. I'm a broker (at a different brokerage and not trying to recruit you), and have a lot of experience in rentals/flips.

0 Votes

Fort Worth, Texas

Hi Kenny, yes there are a few groups around DFW. That's an OK place to start and definitely read up here on BP. If you want to chat about local stuff feel free to DM me. I'm local, a broker, and have a lot of experience with flips and rentals.

0 Votes

Dallas, Texas

Fast forward 15 years. I wish we would have bought more of them back then!

0 Votes

Hey Luke, welcome. If you can find deals you can usually partner with other people or wholesale the contracts. There is no shortage of information about that online or on BP here. Another way to get into it is to get your real estate salesperson license. That's pretty low cost and you'll get to get a feel for it.

Real estate is very competitive and the hurdle is typically capital, but you can still make it a lucrative side-hustle or a full-blown career (or anything in the middle). In my experience, it isn't easy. I remember what it was like starting out myself. If you want to chat, send me a DM. I'm local DFW.

0 Votes

Denton, Texas

Ditto on the LVP. At an old shop we did some analytics on LVP and it is becoming more and more acceptable as people see it differently than "laminate".

Some SFRs will also replace older still-functioning items based on their age and likelihood to fail. I.e. a gas water heater at a certain age will get replaced while a property is vacant (or when they first acquire it) rather than waiting for it to fail and cause damage/tenant issues.

Some smaller landlords are using home warranty companies. I don't recommend it but others swear by it. You might look into that.

0 Votes

Dallas, Texas

Sounds like we need to get together at Matt's Rancho Martinez and make this a fun REI thing with nacho cheese!

0 Votes

Dallas, Texas

Quote from @Michael Cheng:

Hi!

I literally stumbled upon the BiggerPockets YouTube channel today and am interested in learning more. Currently pretty much all my money is invested in the stock market.

1. If I'm able to buy a home to rent out with cash, how important is it to find a great deal? If I just bought a home that's reasonably priced, maybe with something like "needs TLC" in the description, could that be profitable as a rental home, with the idea that homes typically appreciate, and I wouldn't have a mortgage? I don't know how to find great deals, and I have a full time job and family that limits the amount of time I have to do rehab.

2. If #1 is a possible thing to try, any suggestions on how a strategy like this would be scalable? I heard something about taking out a loan against the value of a home appraisal and using that to purchase more properties?

Again, COMPLETE newbie here. This is literally day #1 of me even learning about anything related to real estate investing.

Thanks :).

Hey Michael, welcome. This is a great place to learn and get different opinions. There are always going to be different approaches to this. Personally, I recommend you find a few local investors and get friendly with them. Go through their numbers, drive by a few of their properties/rehabs, and start getting a feel for this business. You might love it, but you also might not.

I remember helping people 10 years ago buying investment properties that were upset that 2013 pricing was so much higher than 2012 pricing. Fast forward to now and they look like geniuses and it doesn't matter. That doesn't mean the appreciation will happen again, but I'd be more focused on the right location/property... in combination with your expectations for cash-flow with regards to interest rates, taxes, and insurance. Not to mention, in Houston you'll want to keep an eye on property taxes, MUDs, and prior flooding.

1 Vote

Houston, Texas

All Forum Posts by: Mark R.

Mark R. has started 2 posts and replied 50 times.

Post: What to look for in a broker as a new agent

Post: New housing development in Sherman, TX

Post: New Investor on the Path to FIRE

Post: New Investor / Realtor

Post: Hello from Dallas

Post: Hola from DFW texas

Post: Real Estate Investing

Post: Real Estate Investor

Post: Introduction of new member

Post: I know nothing - investing in rentals with cash?