All Forum Posts by: Tod R.

Welcome Ram!

There's a wealth of info on this site, old and new posts. Keep looking around and you'll find just about anything you can think of has been discussed in some form or fashion, or start a new topic!

I'm in the DFW area, but the company I work for has built apartments, single family subdivisions, and an office building in SA. Love the place, despite the Spurs. I'm a MFFL (Mavs Fan For Live), who by the way, has just solidified the 8th place in the 2010 playoffs with all the offseason dealings! At least I hope so...

Hi John,

What area is your property located? I have 12 acres, with a home, in Haslet that I had a 10 lot plan designed and was ready to finance when the bottom fell out of the economy. Meanwhile, the neighbor has just purchased 2.6 acres to buffer himself from this encroaching development. Now, instead of any development, I'm going to sell off another 5 acre tract and will be left with the remaining 5 acre tract and a custom home with an extremely low basis. The homesite is basically where all the value is anyway. What I've found out is that a custom home on 12 acres appraises about as much as it would on a 5 acre tract. You never seem to get full benefit for the value of the land on appraisals.

These guys have weekly radio shows in the DFW, Houston, Austin area. I listen quite a bit when I'm online. Usually, they are either motivational in nature or discuss specific REI topics. I think they do a good job overall on their shows. Although I have not been to any of their meetings to meet the people, I do get the distinct impression that they are all about growing their membership. Isn't the basic issue that if you are a newbie, you have a few choices to learn the business, REI clubs, books, self education. The question should be which is the most efficient way to learn? No matter which path you choose, you will spend time and money. Everyone in the REI education business is out to make as much profit as they can. Is it cheaper and quicker than self education? I would suspect that if you follow LU's plan, you and LU will both profit.

Basically, there are two ways for you to make it worth an investor's time and effort. You either need to bring cash (not necessarily yours) or a good deal to the table. However, in order to do that you need to understand how the business works. Learn as much as you can both online at a local REI group. Attending the REI group meetings will go a long way in educating yourself as well as introduce you to your potential future partner. You sound like the kind of guy that will immerse himself in the education process necessary to understand it. Do this, then create a plan to bring something of value to an investor.

There are several homes that sit on multi acre sites in suburban DFW. Does anyone have experience with buying these sites and subdividing into multiple lots? It will require platting/rezoning , but you can take a 5-10 acre site, for example, and create 1 acre lots with a home already built on one of the lots. Besides, zoning, you would need to bring in utilities and possibly a driveway to each lot.

I agree with everyone about educating yourself. Also, you do need some cash of your own. Other investors want you to have your own money at risk with theirs to help insure you have just as much incentive as they do to succeed. It's always easier to walk away from sweat equity versus cash.

With that being said, you already have a great amount of education and RE knowledge that you can build upon. Find those that are successful in the type of RE you decide to focus on and learn from them.

Howdy Blue!

Tell us where Dale Tx is? What type of deals have you done/looking to do?

I'm new here too and consider this site a huge source of info.

I'm really too new to this website to jump into this discussion, but I'm also not disciplined enough to stay out!

Ok, it sounds like most reasonable people agree that, in general, abortion is not a good thing. For those who believe it's a right for someone to do whatever they want to their own body is right to a point, but when your actions knowingly terminates another human life, it is no longer your right. It's time that we as a society focus this debate on the life of the baby, which overrides the right to do what someone wants to their body, except maybe in extreme circumstances. I'm sorry, I'll stop now.

John, Colleen-I think Jon has a good point about the integrity of the owner. Don't you run the risk of losing control of the property if the owner does not perform with his lender? If the goal is to increase value and cash flow, how could you protect yourself?

Will, you are right. I am definitely in one of the strongest markets in the US. Even in a down market that is a large as the Metroplex, no doubt there is opportunities to be found. I was thinking of buying and holding but you have a good point about building up equity quicker by flipping rather than hold and rent.

Jeff & Scott-you make good points about the types of renters. I will understand what type of rental market I'm getting into before I buy.

I also agree with everyone on how the answer depends on which market, and type of market, one invests in. As they say-All RE is local. Asking how the real estate market is doing is like asking what the temperature is in the US!