All Forum Posts by: Richard W.

I'm currently building new construction dulpex properties in Old East Dallas, with two projects underway. We use a company to submit our permits to the city, but they aren't very good. Does anybody have a person / company they can recommend for handling the permit submission process?

@Don Nelson @Chris Lopez thanks, and yes sorry Denver not Dallas!

Interesting about lack of agents knowledgeable about multis with 10yrs+ experience. Your point about deal flow is helpful and what I would expect. I'm looking through the current multis listed and seeing which agents are active.

Will start calling brokerages but like to research first as otherwise theres some pot luck of who picks up phone and where I get directed!

@Don Nelson @Tim Emery thank you both very much. I'm looking to narrow initially to 5-7 realtors with 10+ years experience in Dallas. I'll be then speaking with each, then narrowing down further to meet 2-3 when I visit in Dec with my investment partner. Finally choosing one realtor to work with to help us build a portfolio of 2-4 unit properties (we want to use up our traditional financing first before moving into 5+ units). This is a 7-10yr horizon buy and hold strategy, with scope for unit upgrades to increase IRRs (but not greater rehab than that).

As both my partner and I are out of state we need a reliable on the ground agent to work with over the long term.

Would appreciate recommendations for knowledgeable realtors who've worked extensively with investors purchasing 2-4 unit properties in Denver. Thanks in advance!

@Jieh Larson thank you very much!

@Vijaianand Thirunageswaram thanks I'll take a look.

@Huy Thai great that’s super helpful thank you. I’d actually just noticed really good schools in the 77469 ZIP. It’s amazing the growth that’s occurring. I’ll message you to take you up on the offer!

@Austin Largusa that sounds great thank you!

@Chris Martin thanks for linking to that, great post and reassuring to see that the data stacks up to confirm the same result: 2-4 units not a good strategy for NC due to lack of properties available and generally poor cash flow for those that do exist.

I suppose I should have said: it rules out NC for me for now. Looks like a great market when I'm ready to move into commercial multi-family. However need to gain experience with small multi-family first, plus makes sense to use my 10 traditional financing bullets up first (locking in 30yr money at good rates), before moving to commercial lending (typically up to 10yr fixed I believe).

BTW this is the data I'm looking at (price/rent growth from Zillow):

@Huy Thai really appreciate the quick reply, thank you! That's good to know, makes quite a big difference for a number of the properties I'm looking at.

I've been looking to try and find the right balance between cashflow (where the the outer cities like Pearland, Humble, Katy, Tomball, Cypress do well) and appreciation potential (where inner areas like Third Ward, OST/South Union, possibly Spring Branch, look better, although crime in OST for example concerns me).

ZIP 77498 for example benefits from Sugar Land schools but still some 160-180k houses, plus Sugar Land tax on the lower side. Also 77053 seems to have done well for appreciation and rent growth and rent/price ratios still attractive.

If you've got any thoughts on these or other areas you like/invest in I'd really appreciate the input! I'm looking at total return for a 7-10yr hold period, but aiming to be relatively hands off overall.

Cheers!