@Joshua DunlapTo make a successful investment property purchase in Texas, set clear investment criteria, choose a suitable strategy, get pre-approved for financing early, build a strong local network, start small for your first investment, plan for worst-case scenarios, and work with a knowledgeable real estate agent.

Quote from @Roger D Jones: This is terrible and not legal in any way but it was pre Covid and the rules were a little less restrictive. 

Housing Market ConditionsMedian Sale Price: $395k• YoY Price Growth: 8.7%• 5-Year Price Growth: 50%Housing Inventory: Less than 7,000- low (Below pre-pandemic levels)Property Tax Rate: 0.42Average Insurance: $1,680Median Rent: $1,895 (single-family house)• YoY Rent Growth: 1%• 5-Year Rent Growth: ???

Purchase price: $120,000 Cash invested: $25,000Our latest Flip, this was a pre- foreclosure lead.

Everyone that bought pre 2020 will have great equity growth and success. 

What you are describing is a fully thought out partnership or pre-arranged circumstance.

Pre 2023 clients were overextended, stressed, and did not want to invest back into the house as they were busy living off the cashflow.Also as a broker, the same is true for my current buyers. 

thanks - the above average properties will be seen and snapped up ...if interested in buying another property - get  pre approved so you can be prepared  to make an offer if a good property becomes avaiable - good luck 

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

A client can also close on a new property in less than 45 days so no long closing or pre construction risk. 1031 exchanges are easy to fulfill with our model.