All Forum Posts by: Jacob Stark

If anyone has a recommended CPA that works with RE investors in the North Dallas area, I'd appreciate an introduction.  

Thanks.

@Rivy S., 

Rivy, did you end up finding a good CPA in the area?  My biz partners and I are looking for a CPA in the North Dallas area.  Would either of you be willing to offer a recommendation/introduction?  I'd appreciate any leads you'd be willing to offer.

Thanks.

Bryan,

Congrats on the success and finding a way through the challenges.  It looks like you live in NC but bought in MI, is that correct?  If so, how did you make all of that work?  Were you working with a property manager and realtor in the area you bought?  My biz partners and I have heard of great opportunities out of state but still trying to figure out how to really make that work efficiently and effectively.

Thanks

By far, I would start with The Millionaire Real Estate Investor by Gary Keller.  It gives a great foundation for how to think about real estate and provides enough detail to get you started in the right direction. 

Great discussion here and thank you all for adding your experiences and opinions.  This has been very helpful.

To followup, this renter wanted a discount on the rent by paying up front but we haven't dug further into it then that at this point.  He's a young guy that likely has parents helping with this.  It's also a competitive rental market, so we believe he's trying to get a leg up.  We have another renter that is willing to pay a higher amount monthly and they seem to fit what we need much better anyway.  Given that we're newer to RE investing, we also feel like it's important that we get solid systems/processes setup and working before we jump into a one-off situation like this.  

We've decided to go with the monthly renter for the above reasons and to avoid possible issues or legal costs to prevent/fix potential issues.  Thanks again for sharing.

Really great feedback everyone, thank you.  The renters seem legit but I completely agree that full checks need to be completed.  I hadn't thought of that legal angle of if we can accept that, so I'm glad I asked the question as we don't want little things like that to trip us up.  I'll be sure to post back and let you know what we find and decide.  Thanks again.

We just started marketing a rental in the Dallas area and one potential renter has offered us 12 months rent up front.  We're thinking this is a no-brainer to take (assuming renter passes credit/background checks) but just curious if anyone has any experience with this or gotchas that I can't think of.  If you've done this before, did you offer a discount based on up front cash and if so, how much of a discount?  Our margins are slim on this one, but would be great to get 12 months all up front.  Thanks all.

Thanks @Jean Bolger, I think one of us getting our license is ultimate answer here, at least for buying like this.  Listing and marketing our flip is something we'll likely always want help with.  I appreciate your response.

@Travis Lloyd, that was a great response and good insight to share.  I really appreciate it.  Thanks for taking the time to explain.  I like the point about paying it and leveraging toward the listing.  I hadn't thought about it that way at all.  

@Travis Lloyd, I appreciate your candor, but I'm not sure I was clear here.  Our agent didn't market the house at all.  We found the property and she just handled the paperwork.  We're just trying to think about future deals if it makes sense to negotiate this down, only in scenarios like this where we found the property, which could happen given our personal reach in the neighborhood.  Thanks.