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All Forum Posts by: Rob Lee

Rob Lee has started 29 posts and replied 237 times.

Post: Arlington, Texas Market information

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Have you tried this site? It seems to get pretty close.

https://www.rentometer.com/

Post: Needing a good agent specialized in DFW, Texas

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Aledo is closer to Fort Worth and not considered part of DFW. Have you searched the BP Realtors under the Network tab?

Post: DFW June Days on Market.....

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

No problem. Our market remains pretty hot. DFW is still a great place to buy a new home. I was inspired after hearing episode 392 with Todd Baldwin. Rent by the room is definitely the way to go for those looking to house hack in our area.

Post: DFW June Days on Market.....

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Curious about the Texas real estate market since COVID19? This article shares DOM data for Texas major cities. In June new homes in DFW experienced an average of 97 days on the market. Have you purchased new construction? Are you thinking about buying a new home in DFW?   https://www.streetinsider.com/Globe+Newswire/Texas+New+Home+Sales+Rebound+in+June/17134192.html

Post: Adding A Basement Apartment to a Dallas BRRR

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Basements in Dallas are very rare. Almost non-existent. I would have an engineer confirm that it is structurally sound.

Post: Which of the big 4 cities in Texas is the best to invest?

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

You have created a fair assessment. As far as DFW is concerned, we expect to see continued growth due to job opportunities. DFW remains attractive to large companies interested in moving headquarters or creating additional campuses. DFW is one of the few major metropolitan areas with affordable housing. Our suburbs have great schools which creates demand for long term SFH rentals. During the last recession, "starter homes" maintained their value. No increase. No decrease. Since the recovery, those homes have seen a great deal of appreciation.

Keep in mind, there are not a lot of small multi-family properties here. Also, most out of state investors are challenged when it comes to establishing a realistic budget. If you have done your research, there are definitely opportunities here. 

Post: Is refinance the way to go?

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Interest rates are low right now. Keep looking for a fixed-rate mortgage. An ARM can cause problems down the road.

https://www.investopedia.com/terms/a/arm.asp

Post: Is refinance the way to go?

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Why an adjustable rate? How many lenders did you reach out to? If at all possible, you want to get a fixed rate.

Post: Seeking “Biggest Mistake/Lessons Learned” Stories for BP Magazine

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Our biggest loss has been a syndication deal. While the syndication leader came highly recommended, we have not made a dime. Going forward we will only invest where we have control over our ability to be profitable. Yes, we took advantage of the losses from a tax perspective. It's not enough. The investments we control are all-around more profitable.

Post: New Investor advice in Texas

Rob LeePosted
  • Real Estate Broker
  • Dallas, TX
  • Posts 247
  • Votes 239

Have you considered investing in the DFW market? You will get more bang for your buck. Class A neighborhood SFH. Considering individual leases by the room.