All Forum Posts by: Robert Newburn

I am looking for real estate wholesalers in Texas. I would like to be added to your email list. I can provide a qualification letter from my bank as well as a POF if needed. Please message me and I will also add you to my list as well. Thank you, Robert

Hello Kevin, My wife and I are investors in Denton. We have four rentals. After reading your post, I offer the follow advice that you can take or leave: 1. House flipping is not as easy as tv, radio, your friends, bigger pockets, etc say. It requires many, many skill sets including project management, cash flow management, proper and realistic valuation of properties, dealing with hard money lenders. 2. Learn one market at a time. McKinney is a different market than Denton and both are different than Plano or Dallas. Learn to spot good and profitable deals in one market. 3. Don’t deal with wholesalers.....yet. You are not sophisticated enough to deal with them. It is a cut throat business. They will eat your lunch before you know what hit you. Use realtors (in the area you are investing in) to help you with your first few deals. You may pay a little more but you won’t have to deal with wholesalers deadlines and non-refundable deposits as a novice. 4. Make an appointment with a hard money lender. Go pick his brain for an hour and do not leave until you know the process of hard money loans from start to finish. I have a hard money lender that I will share with you if you message me. These are just a few things that I have thought of. I am always looking for deals myself and I am always looking to expand my network. Robert

Dallas is expensive and there is very little inventory. Dallas investors are looking elsewhere.

Just curious, why are you interested in Denton? I live in Denton but grew up in Lubbock. The Lubbock market is far and away better than DFW. The cap rates are better in Lubbock and you would be there to manage and oversee the property. Just curious as to why someone chooses Denton or DFW.

Chris Rush , I am extremely interested in joining with a syndicator in the future. I would love to connect with you and discuss this in detail, if you are interested. I have three properties right now and know that one day, apartments will be the logical route.

I have a question regarding knit picky tenants . I know you guys here are just the ones to answer this question. I have some tenants who pay there rent every month on time or early. They are a family and they keep up the yard and do not cause any damage to the property. My problem is that they are wearing me out with text messages and phone calls on items that aren't a very big deal. They have never lived in a house, always an apartment. They will call me if the fence looks like it is leaning, or if the sprinkler heads come loose or if the air flow on the a/c feels like it is more in one room and less in another or if a piece of weather stripping is loosening up on the back door. I have two other rentals and never hear from my other tenants. Have any of you ever had to tell a tenant that their complaints are not that big a deal? Robert

Although I admire your ambition, I guess I first think about myself and what I would do. I have been a landlord for quite a while now and have managed repairs and small rehabs in my properties. I do not think that has given me the skill set to flip houses. Contrary to what you have read or have been told, it is a skill set and not everyone can do it profitably, much less with no experience. I agree with the previous poster, I would attend some Investor meetings in your area.

Good morning Frank. I am an investor from Denton and would love to connect with you or meet you for coffee one morning and talk. One of the best resources I have found is the Denton Real Estate investors group. We meet generally on the last Friday of the month. Get the Meetup App and search for it and then plan on attending. It's a great group that shares their experiences and knowledge.

Jay, it sound like you have a blockage in your shower drain. You can pick up a snake or a drill powered drain auger fairly cheap ($30) at Home Depot. I have been a landlord for sometime now and drains, toilets, sinks, and outside faucets are things that you should be fairly comfortable with. There are videos on YouTube and articles on the Internet to walk you through. Also, if I ever pay a plumber to come out, I always watch him do the work. If I am going to pay him then I am going to learn from him.

Hello. I am a detective at a police department in the Dallas-Ft Worth area. I work primarily financial crimes and scams and I have worked many cases involving real estate scams on Craig's list. Many of the scams are just like you described. The scammers pose as an out of town landlord who needs to lease their home out. They often list it for under market value to gain attention and will "lease" out the home over and over again. I have worked them where the scammer finds vacant, unattended properties and forces themselves in, changes the locks and leases them that ways as well. Prospective tenants will never think or have the courage to ask a person who they see as their future landlord for identification and thus the crimes go unsolved due to lack of an identifiable suspect. The scams involving rental property and other real estate are as vast as their imagination.