All Forum Posts by: Sarah Nowak

Originally posted by @Eric James:

What are your rent to purchase price ratios there? What are your COC returns? It's difficult to interpret a generic 'great'.

 All of that heavily depends on not only zip code but subdivisions within the same zip code. DFW includes tons of surrounding cities and there are many factors which contribute to variations in rents and returns. It would be meaningless to give an average on the whole. Do you have a particular city or zip code in mind?

Is this a property that has never been in the MLS? If it has been then even if it's not currently listed, you can still use a past listing to grab the tax info.

If that's not the case then, unfortunately, you're going to have to do your 4 step plan.

Patrick, this is a smart way to start! I got into investment real estate watching my sister flip properties and learned a ton! Nothing beats hands-on education!

I suggest you join the facebook group DFW Real Estate Investment. You can learn a lot just by being a fly on the wall but post that you're looking to shadow someone and you might have a few takers!

Check out Project Solutions - Jason and Brad, they do rehabs for investment properties only

Hi Rochelle, I'm a local agent and I work exclusively with investors in DFW. Let me know how I can help :-)

Originally posted by @Justin L.:

Hey @Kenneth McKeown, were your properties in North Dallas recently purchased? I'm very interested to hear about how you're sourcing your deals since nothing on the MLS seems to make sense from a cash flow perspective. Haven't seen a whole lot from the wholesale distributions I'm on either. Feel free to PM. Thanks!

Justin, I have definitely found deals on the MLS and through Wholesalers. However, if you have the time, the best way to maximize your profit is to source properties yourself either "driving for dollars" or seeking out properties about to foreclose and make an offer directly to the homeowner.

Hi Chad, Welcome to the world of investing!

Many investors utilize the help of a local agent to acquire their properties and some choose to work directly with wholesalers themselves. Others even “drive for dollars” looking for distressed properties with boarded windows, overgrown grass/landscaping, obvious roof damage etc. and then make a purchase offer to the owner. I’ve got clients that do the driving and then send me the property address and I send them back as much information as I can find for them or contact the owner on their behalf. 

If you decide to work with an agent, definitely find one that specializes in working with investors and make sure they are truly investor-friendly as many say they are but don’t really understand investor’s needs. 

I don’t have personal experience with Networth but I’m familiar with their business model and it definitely seems like a good option for beginners that want full guidance through every step of the process. I think if you want to be a little bit more hands-on, a traditional agent is the way to go as any good investor-friendly agent will have plenty of trusted contacts they can connect you with to help you with funding and rehab. 

I agree with a lot of what Robert said as well. I also think that beginners really need to outsource as much as possible until they are comfortable with the process enough to do it all on their own. As an agent, I believe it is part of my job to provide as many of those services as I can and help to educate my clients along the way so they can "leave the nest" :-) Ideally, you as an investor, should be able to learn enough in 1 to 2 years (depending on how many deals you do) to venture out on your own without need for an agent, project manager, etc. I do have clients that have been investors for much longer than that and could very well do my end of the job on their own but in those cases its usually a matter of convenience and time-saving. The key is to find an agent that has experience with investors. I became an agent because I watched my sister struggle through 3 flips to find a decent agent to no avail. And yes, I agree with the hard money lender point. You should meet with several and make sure you know exactly their process, what they are and are not willing to do, how they evaluate deals etc.

Hi Kevin, how exciting! I’m a Realtor in DFW and I work exclusively with investors here doing fix and flips and buy and hold - single family and multi family. I would love to chat more about your goals and see if I can be a resource for you!

Hi Andrew! I'm an agent here in DFW and I work exclusively with investors. I would love to meet with you and talk about how I might assist you in your goals here.