All Forum Posts by: Rob Lee

My wife and I were high-income earners before we left corporate. She was a professional salesperson with bonuses/commissions. We tell our story in episode 61 of BP Money. Our real estate was helpful when it came to reducing our taxes. We didn't start living tax-free until we left our W2 jobs. There's a significant difference in the taxes paid by W2 employees and investors. Best of luck with your investment goals.

Rob

You might want to find out if those 3 units are zoned as legal dwellings. Are they up to code? How are they listed with the county? How are they taxed? Best of luck.

Rob

Congratulations on finding BP! You have come to the right place for real estate investing information. The basics of real estate investing are not geography specific. Have you gone through the bookstore? It's a great place to start. Most are available on Audible. If listening to the BP podcast is not your thing check out the episodes available on YouTube. BP also offers webinars on how to get started. Just hover over the education tab. If your goal is to meet with people in person search the forums for an REI meet-up near you.

As of 2021, in addition to a waiting list, a number of builders require that the buyer lives in the home. It's an opportunity for those able or willing to house hack. 

DFW has seen significant appreciation across the board. You are looking at a minimum of $250k for a Class A property in Tarrant or Dallas county. You might find something listed for less but competitive buyers drive the price up. Here's what you are looking at regarding year-over-year appreciation in Denton and Collin counties. 

Homes in DFW are selling at $25k-$50k over asking in the current market. That alone might make it tough to get a response to a mailer. Good luck.

GCs and handymen have more business than they can handle with the COVID boom in home improvement and the damage caused by winter storms. Consider working with a property manager. They generally have resources that will respond based on the volume of business they offer a contractor. Good luck!

There are CPAs who sell their courses if your ultimate goal is to learn to file without a CPA.

Where you invest depends on your goals. If you are a long-term investor looking for appreciation make sure you review the historical sale prices of any property you are considering. There are some geos that have experienced little to no appreciation even though the rest of the country is on fire. The neighborhoods within those states that have seen some appreciation are generally higher-end and more expensive.  Of course, run the numbers using the BP calculator or your own tools.

I've seen reports of other markets pulling back or slowing down. Just lost another house to a buyer who offered $50K over asking and gave up everything. If you are trying to buy in DFW you know that this has been going on for months now. The DFW real estate market is NOT slowing down.