All Forum Posts by: Tom Feret

Welcome @Chris C. and best of luck on your endeavors.

Seems like your LLC question was addressed, and finding the "easiest" property will depend on a number of factors where connecting with local investors and attending meet-ups could help you zero in on what meets your criteria.

Getting into short-term vacation rentals has its pro's and con's and should come down to your goals and strategy in real estate. The most common one being that AirBNB/VRBO tends to be more of a hospitality approach that typical buy and hold. Do you have the time and/or team in place to facilitate quick (and frequent) turnovers? As both Eric(s)' mentioned these need to be in more desirable/touristy areas and therefore a favorable RTV will likely be harder to locate. The upside is that you could generate greater returns. One strong suggestion for AirBNB owners has been to buy them meeting criteria for a "typical" buy and hold so that if (ie, when) the market does have a downturn and travel takes a beating you can still have positive cashflow renting locally - which should be achievable being that you'll be in these desirable areas in the first place.

@Mark S. Thanks for the invite, I'd be very interested in attending as this was on my current list of steps forward. I'll have to echo some of the other comments in the thread and say that lunch time meet ups might be a little tricky during the weekdays. If you could add me to you list/thread/email with updates I'd be on the look out for the meeting.

Thanks? I'm just messing with the typo @Rocky V.! I've lived here for close to 5 years and definitely have seen the change firsthand with prices, inventory and demand. Definitely wish I was exposed to RE earlier but I'm encouraged by the vast amount of markets let alone within DFW.

Appreciate the kind words @Andrew Jones. I feel extremely motivated stepping through the learning curtain and putting all that education in some hands-on education.

Hey BP community,

Been a lurker for a while and constantly reaffirming to myself that networking and helping each other out will lead to success. I'm looking forward to working with each of you on BP since it has provided so much in return already = podcasts, blog posts, materials, videos, forums, etc.

Currently located in Dallas and although it's pretty obvious the inventory has dried up and seems like everyone is an investor, I'm motivated in connecting with the right people and resources to facilitate success. Going to be proactive and call on a few folks who I've seen to be pretty active and knowledgeable and put myself out there to see if we could connect: Chris Soignier, Hattie Dizmond, Jon Klaus, Mark Allen, David Veeder to name a few.
Don't mean to alienate anyone as I'm a very network minded individual who sees the value in building solid relationships.

As for investing, I'm actively pursuing a multi-unit (duplex to fourplex) to utilize as an owner occupant but an looking to ramp up additional units by the end of the year.

I've gotten my foundation down and now want to get this knowledge into consistent action.

Have some ideas and questions to share as well on the forums, pretty excited to get involved here and start returning the favor to BP and what it has provided.

-Tom

Side Note: wife says I could pass for a Brandon Turner doppleganger being a talkative 6'5" beareded guy. But she says I'm slightly better looking, sorry Brandon! :P