All Forum Posts by: Richard Helppie-Schmieder

@Peter Walther for the win.

Hey Nolan,

Shoot me a PM with your cell phone. A few of us on BP are getting together in Dallas on the 12th at 8am to share ideas, strategies and expertise.

@Marcella Marquez I am not a builder, but a friend of mine in Southlake builds about 30 annually and is around $320/sq ft for high end homes. I think for decent finishes I would expect to pay between $110-$130/ft to build.

@Mario Bolivar I have never had any pushback and did it early on in my investing career. It is not something I negotiate up-front but typically about a week from closing after appraisal numbers are in and before the HUD has been finalized. It's a pretty casual conversation and as long as it is positioned where the seller is receiving the same amount, its a non-issue.

Hi Mario!

Looks like you are taking some good steps. For some encouragement, I bought my first home (10 years ago) with 11k, second for 9k and third for 7k. I was able to do this by doing 5% conventional loans while rolling in all the closing costs to the sales price with the seller. 

Also, I am looking to sell one of our properties in Richardson this coming year. 211 Wake Drive. It's 3 bed, 2 bath but has a converted garage. Take a look, maybe we can work something out!

@Alex Wynn @Justin Tsoi @Megan N Williams @Michael Duke

I love helping where I can and chatting real estate. Would y'all want to meet up next week/weekend for a quick coffee and do some networking?

Hey @Joe Villeneuve thanks for the kind words.

I like picking on Detroit because my family is from there. Big MEEEEEESHEEGAN fan (see what I did there?). You may even know one of them if you know a Helppie or a Schmieder because I do have family in Plymouth as well! Yes I have knowledge of the city as to where it was at and where it is heading. The city was literally giving away houses years ago in downtown because it was costing them more to maintain.

From my experience in Dallas, more affluent areas have a much better tenant pool and this remains consistent with other RE investors. 

@Patrick Rabalais Both areas you are looking in are great. Let me tell you my investment strategy here in DFW. I purchase homes in good school districts before up and coming areas where I can value-add through a remodel. Here are a few points to my opinion:

1. If natural appreciation is 3%, the home that has a higher value will you net you more over the long-term

2. If you ever need a fast exit (if DFW ever turns into Detroit), the homes that will always be more desirable are those in great schools (Plano is one of the best) and with a great remodel you can unload property fast.

3. Tenant pools tend to be less of a headache in more affluent areas.

Hi Ki, from my experience here in DFW, the people with the keys to the deals are multi-family brokers. These brokers typically spend years and a lot of money building relationships with owners to make that $5mm sale down the line. It may be tough to compete with someone who's sole business is finding these deals, but kudos to you if you figure it out!

Contact David Thompson at 972-567-9433. He insures all of our rentals and his communication is on point. Let him know I sent you!