All Forum Posts by: Ross Nussle

I'd say investing in yourself is always worth it, $100 or $100k. A lot of times with the REIAs it's not about what they are pitching, it's meeting the people in the room and seeing who the real players are. Try and find out what those ppl are doing. As for the Big Dog group, it is mostly a pitch to get in the program, but there are definitely players at those meetups, I've done multiple deals with Big Dogs. They run some of the big REIAs in major Texas markets (SA, Dallas, Austin, Houston) but Phill and Shenoaha started those REIAs, so they can run them how they want. I'm in the Dallas area, so don't know as much about Austin, but Propelio did good events before Covid locked everything down. Still not as many meetups as there were pre-covid, but some good ones starting again. Also, there are some good luncheon meetings you can find on Meetups or Facebook RE investment groups, that typically are free to go and network, no yearly fee or anything like that.

Hey Rami,

There are a few bigger name wholesalers in town, typically it's silent auction style at the property.  If you invest in the surrounding counties, like Hunt, Johnson, Kaufman, etc, you can still get some good deals from big wholesalers.  If it's the cities that everyone wants (Garland, Plano, Arlington, Ft.Worth, etc.) you will typically be competing against a lot of other investors.  Some do first come, first serve, which typically means first investor to get deposit in hand or wired over gets the property, but you have to be able to run numbers really quick or know the area of the property really well, because they can go in minutes to a seasoned investor who knows the area and doesn't hesitate to send deposit.

It sounds like you want to avoid that and find an independent wholesaler who you can create a personal relationship with.  Best way to meet independent wholesalers is REIAs and local meetups, just start talking to people.  You will eventually find someone who is wholesaling or you will find someone who is not a wholesaler, but has a property they are looking to sell.  Sometimes an investor is stretched too thin and they are looking to offload a property, you can get good deals this way and make a relationship with someone who is actively investing.  Talking to RE agents is another good way to find properties as well, if you find a good agent they come across fixer upper properties quite a bit and can pass them your way.

Hope that helps, happy investing!

You can wholesale in Texas if you have a RE license, I know a ton of wholesalers (including myself) who do this.

Call Michelle at Capital Title of Texas, she handles all my wholesale transactions and will definitely know how to help.  DM me and I can give you her contact info.

Hello/Help,

Started a business this year and my taxes have become too complicated, hoping to find a good CPA/tax person recommendation from the BP community. Right now the company is comprised of 3 partners, including myself, we each have our own LLC's/bank accounts, plus a shared LLC/bank account. We do not have any employees, it's just the 3 of us currently. We have done a few flips using hard money and have done a few wholesale deals this year. I'm sure I butchered it, but I've made an attempt to get all of our revenue, expenses, loans, etc., in Quickbooks, if that helps the CPA start somewhere. I wanted to reach out to BP community because I'm hoping to find a CPA who also invests in real estate and knows the particulars of our industry. Lastly, looking for the CPA to be local, I'm in the DFW area (Richardson, TX to be specific). Any advice/referrals is appreciated!

Thanks!

Ross Nussle

@Taylor Hoch depends on what you are looking for. If you plan on living in the house for a couple years then I'd say east of 75 in Plano and Richardson or anything near Collin Creek project. Everything west of 75 is really expensive and the high prices seem to be spilling over 75 into those neighborhoods, so should appreciate nicely. If you just plan on living for a year or 2 and want to live in a cool area, Deep Ellum, Las Colinas, Legacy area, M Streets, Knox/Henderson, are a few you should check out. Let me know when you get to town, we can grab a beer and you can pick my brain about DFW market.

@Robert Ortega Phill and Shenoah are awesome, I've been going to there events for a number of years (they also hold a REIA in Houston, San Antonio and Austin). Of the local gurus, they seem to genuinely want to help and bring people together to get more deals done. I've done a number of deals with investors I met at the REIA.

Propelio is also an awesome event, they have more of a party atmosphere. Propelio is great because they have a good topic each month (similar to the REIA) but they also have a big area outside the theater if your main objective is to network. Both the REIA and Propelio have very active investors, if you have a deal locked up it won't be hard to find equity partners, lenders or contractors to get the deal done.

Most areas are still going by the 70% minus repairs formula, unless you are in really hot markets like Dallas, Phoenix, Vegas, etc., where you can get away with wholesaling at 80% minus repairs. Based on the $140k ARV for both and $60k rehab, I would have offered $38k for the package deal. $99k is asking way too much for the properties, based on the information given in this post. My 2 cents.