All Forum Posts by: Rob Lee

Congratulations on finding BP! This is a great time to be a sponge. Read as much as you can. Listen to the podcasts and audiobooks. There's a great list of books in the BiggerPockets bookstore. Most can be found on Audible. Research the areas you are interested in using sites like Realtor.com and Redfin. Real estate investing is a business. It's crucial that you have some understanding of the market you are interested in. When you think you are ready to engage a real estate professional check your credit report and work with a lender to get a preapproval letter. The more prepared you are the smoother the process will go. Hope this helps.

Rob

According to this CNBC article, Dallas is amongst the cities that saw all-time highs in annual price gains. What are your thoughts regarding the cities listed as the highest and lowest?  https://www.cnbc.com/2021/07/2...

@Keith A. My wife and I have a YouTube channel. She’s an active swing trader. Less stressful than day trading.

While Frisco has a great reputation, schools ratings are based upon individual performance. If this is a rental you will most certainly get a pool of tenants based on the reputation of the overall ISD. In Texas, the top 10% of students at each school receive automatic admission to most state colleges. Our oldest son attended an excellent high school. Graduating with a 4.1 GPA only put him in the top 20%. We have advised a number of friends with younger kids to move to Frisco where their kids will have a better chance of making it into the top 10%. If your offer has been accepted those school ratings should not be a deal breaker. Hope this helps. Good luck. 

I shared the April numbers last month.

Hey BP Community,

It's best to go in with your eyes wide open. Here are the latest housing market statistics for the 4 largest counties in the DFW market. Hope you find the information helpful. Is this consistent with what you've seen?

Rob

The DFW real estate market has exploded over the last 5-7 years. You are not missing anything. The housing market here is primarily single family. Due to a lack of inventory and low interest rates our market is very competitive. Like most major U.S. markets prices have continued to rise. The minimum budget for a single-family home in a class A Fort Worth neighborhood is $250K. The available fixer-uppers are gone in days. All properties are receiving multiple offers. Winning bids have been $25k-$50k over asking. The 1% rule does not apply in this market. If you can house hack you may be able to cash flow. It's best to go in with your eyes wide open.

Hi Nic,

Did you ask your lender for GC referrals? They should have a list.

Rob