All Forum Posts by: Tony Hernandez

Thoughts on trying BRRR in Garland? I see properties below $200k (and even below $100k) that are 3/1.5-2. I was thinking about trying to get my first deal there but I'm concerned that I wouldn't get the appreciation I want after the rehab given how hot things are in Dallas right now. I know its all about the purchase but is the seller's market making BRRR too difficult?

Thanks,

Tony

I created a Google Calendar event here: https://www.google.com/calendar/event?action=TEMPL...

You don't have to use it but for those that like to have things on their calendars, it might help.

Here is the meetup I started for June in Richardson: http://www.biggerpockets.com/forums/521/topics/194...

Here is the McKinney thread. http://www.biggerpockets.com/forums/521/topics/193639-north-dallas-collin-county-meeting

Hi all,

This is to gauge interest in a meetup for North Dallas / Richardson / Garland / Collin County folks in June. There is a meetup scheduled for May in McKinney.

This will be an informal meeting at either the Fox & Hound on 75 & Campbell or my RE broker has offered his office which is just right behind the Fox & Hound. Just a get to know you and war story swapping.

Who's in?

Tony Hernandez

@Dana Chun Sure! I know there a few Richardson folks around so that will be good. 

@Dana Chun - We don't have to use his office. He just offered. There is a Fox & Hound pub at Coit & Campbell that could work.

@Hattie Dizmond Thanks for this. I've not heard from them but I'm trying to get started in REI and might have been tempted to go with a deal like this. Thanks for reminding me to do my homework.

Hi @Dana Chun,

I was asking something similar here: http://www.biggerpockets.com/forums/86/topics/1932... but I like your idea. 

I was actually having lunch with a good friend of mine today who is also a RE broker and I was telling him all about BP and how I wished there was a REI group up here to meet with. He then suggested that I organize a meeting and he would offer his office or other place if we had a bunch of people.

His office is in Richardson right off Campbell and 75. If that isn't too far south for you I can get that location.

Thoughts?

@Jesse T. Thanks for the info. Unfortunately almost all of my cash went into my personal residence for the remodel we're doing. On top of that, we did a remodel loan so I don't think I'll have any equity there and even less cash when its all said and done. I've got some money I borrowed from my 401k that I could use but it would not be 25% to 40% of the purchase price in this area. It would be more like 15% - 19% assuming I could get the property at 70% ARV.

I'm sure my friend could roll the whole thing but that makes me nervous. My friendships are way more important to me than the learning (aka mistakes) I will have on my first deal.

@Jonna Weber A partnership with a seasoned investor might be best as I would get their experience and their money. I would just be concerned with working on my first deal with someone I don't know who has a financial interest to do what's best for themselves and I don't know enough to protect myself, basically a sitting duck. I know that sounds cynical but worse things in the world have happened.

Thanks for the advice!