All Forum Posts by: Tyler Hodgson

Welcome to DFW! 

I would highly recommend you reach out to @Kenneth McKeown. He’s very active here on BP and is a top agent here in DFW. His experience and communication is unmatched - and of course he’s a fellow investor. 

@Landon Hendricks - you are correct it can be difficult to estimate ARVs on MFHs at times. From an investors perspective the value of the property should really be derived from the market value of the rental income and ultimately net profit that can be derived from the property. However, from a lender's perspective (for 1-4 unit properties) the value is heavily determined by the sales comparison approach and depends on what comparable sales are available to support the value. I've personally ran into this problem where I wanted to buy a duplex at a certain price because it had great cash flow, but there weren't any similar/recent sales, so the appraised value came in low, and the lender would not lend on the deal. Ultimately, the seller wouldn't come down enough, and I didn't have enough cash to make up the difference, so the deal fell through. 

The best way to prevent such a scenario is working with a real estate agent who has a lot of experience with 1-4 unit properties (see recommendation above). Your agent will help run comps to help you analyze the potential ARV of the property.

@Landon Hendricks on BiggerPockets you can definitely find a great real estate agent to work with you and help you learn the ropes. I strongly recommend you connect with @Kenneth McKeown. He is a real estate agent and a fellow investor. He has helped many people on BP get MFH properties. 

2% would be crazy good rent for anywhere in DFW, especially at that sales price. It can be tough even finding 1% in the DFW market these days. Kenneth can help you run rent comps as well. $10k taxes sounds a little low. How much are you estimating for homeowners insurance? 

@Kenneth McKeown for sure! He’s an experienced investor and is hands down one of the best agents you’ll find in DFW. 

@Shahad Saffar sent you message

What loan type is that? FHA or Conventional? Is your credit good, great, or excellent?

Insurance: @Zack Conroy with Goosehead Insurance. He’s the best especially when it comes to structuring your house hack policy (part rental part primary residence) 

Juan, not sure what your questions are, but tagging @Kenneth McKeown in this post so he can help you out. KC is fellow investor, realtor, and he’s really active on BP 

@Parker Pavia are you planning on house-hacking this property or looking for something that is 100% rental property? 

Typically, I recommend people purchasing house-hacks or long-term rentals do so individually and don't involve other partners. Partnerships are better suited for short-term deals (like flips) or larger syndication deals. 

You definitely need to connect with @Kenneth McKeown. He's a real estate agent and an active investor. He's very active here on the BP forums, helping out a lot of new and experienced investors alike.

@Kenneth McKeown should be your go to investor/realtor in DFW! He knows his stuff. and helps a bunch of other BP investors