Dallas Fort Worth Investors

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Dallas Fort Worth Investors

Jason Utley
Real Estate Agent · Fort Worth, TX · Member since 2015 · 48 posts · 12 votes

I'm looking to connect with those looking to invest in the Dallas Fort Worth Metroplex. I work with a large wholesale brokerage that sells 30-40 investment properties per month. 

What are your thoughts about the DFW market place? 

Who has worked with wholesale in the past and what are your thoughts?

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Chris Soignier
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
10y

I'd be much more concerned about Houston, esp. the energy corridor on the west side of town.   Fort Worth's largest role in energy is natural gas, esp. capitalizing on the fracking boom of recent years. Texas' economy has greatly diversified since the last oil crash, and DFW is not overly reliant on energy.     We have a lot of jobs and people moving here continuously from CA and elsewhere due to Texas favorable business environment, DFW being a great airport for bus. travelers, relatively low cost of living, highly educated labor pool, etc.   As long as these trends continue, I expect energy prices to have a minimal impact.

I predict that holding off a year will result in having to pay ~5-7% more for your property.    I'm a REALTOR and investor in the area, let me know if I can help!

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  • Glenn Mayo
    Fort Worth, TX · Member since 2015 · 80 posts · 16 votes
    10y

    I'm feeling like the whole Metroplex is in a big bubble right now, and it's nearing the bursting point. Some areas more so than others, but the whole place, generally.

    0Reply
  • Jason Utley
    OP
    Real Estate Agent · Fort Worth, TX · Member since 2015 · 48 posts · 12 votes
    10y

    I agree that there is a bubble, but supposedly the fed is going to raise interest rates a few times this year so that should slow the bubble and keep it from popping.  

    1Reply
  • Pam Cleary
    Wholesaler · Fort Worth, TX · Member since 2009 · 39 posts · 16 votes
    10y

    Jason

    I suggest when you are in Fort Worth/Tarrant County; you refer to the area as 

    Fort Worth/Dallas.   This lets people know out of state that the two cities are not that far apart.  One problem I have found with whole sellers in large company; ya'll do not add the holding costs fees, realtor fee, and certainly dumpster fees besides the repair cost when it comes to doing a flip.  I would love to find a whole seller to work with.

    Pam

    2Reply
  • Account Closed
    Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    Interest rate hikes are becoming less and less likely.

    1Reply
  • Bob Cooper
    Investor · Garden Grove, CA · Member since 2016 · 1 post · 0 votes
    10y
    I am new to out of state investing and have been recently looking in the Fort Worth area. I've heard several things, the oil crunch is going to impact the Texas housing market mostly. I'm thinking about holding off for a year or so to see how thing play out. Any suggestions?
    0Reply
  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    10y

    I'd be much more concerned about Houston, esp. the energy corridor on the west side of town.   Fort Worth's largest role in energy is natural gas, esp. capitalizing on the fracking boom of recent years. Texas' economy has greatly diversified since the last oil crash, and DFW is not overly reliant on energy.     We have a lot of jobs and people moving here continuously from CA and elsewhere due to Texas favorable business environment, DFW being a great airport for bus. travelers, relatively low cost of living, highly educated labor pool, etc.   As long as these trends continue, I expect energy prices to have a minimal impact.

    I predict that holding off a year will result in having to pay ~5-7% more for your property.    I'm a REALTOR and investor in the area, let me know if I can help!

    6Reply
  • Pam Cleary
    Wholesaler · Fort Worth, TX · Member since 2009 · 39 posts · 16 votes
    10y

    I so agree with Chris.  It is funny how people still think of Texas being an oil boom state. In reality we are more of a service provider.    It is a presidential year!!!!!!   I have been doing retail real estate for almost 17 years; and it seems like we always go through a short bubble presidential year.   Newbies are always afraid.  Just be careful and go with your gut.   You have to take ACTION or you will never do it.   Let me know if I can help

    1Reply
  • Jason Utley
    OP
    Real Estate Agent · Fort Worth, TX · Member since 2015 · 48 posts · 12 votes
    10y

    http://www.dallasnews.com/business/residential-rea...

    This is a good article from the Dallas Morning news on the housing market in North Texas.

    Dallas/Fort Worth (is that better Pam...lol) is still one of the best markets in the U.S. and will be for a long time to come, making it an excellent place to invest. Rentals or flips whichever your investment strategy may be. 

    1Reply
  • Davide Pascucci
    Investor · Katy, TX · Member since 2015 · 18 posts · 4 votes
    10y
    Originally posted by @Chris Soignier:

    I'd be much more concerned about Houston, esp. the energy corridor on the west side of town.   Fort Worth's largest role in energy is natural gas, esp. capitalizing on the fracking boom of recent years. Texas' economy has greatly diversified since the last oil crash, and DFW is not overly reliant on energy.     We have a lot of jobs and people moving here continuously from CA and elsewhere due to Texas favorable business environment, DFW being a great airport for bus. travelers, relatively low cost of living, highly educated labor pool, etc.   As long as these trends continue, I expect energy prices to have a minimal impact.

    I predict that holding off a year will result in having to pay ~5-7% more for your property.    I'm a REALTOR and investor in the area, let me know if I can help!

     Chris I agree completely with you, here in Houston we are seeing the oil slump, but about Dallas area I'm not worried, even better I think the Forth Worth/Dallas area is going to perform good this year due to the diversification that you mentioned. Also, I read some articles and studies, and Dallas is placed in the top 10 Real Estate market for this year.

    However, as I see in your post that you are working in the Forth Worth/Dallas market, and I'm in searching of good professional, let's then connect and see what opportunities we have!!! Have a bless day! Best to y'all!!

    1Reply
  • Mansoor Fazel
    Rental Property Investor · Fremont, CA · Member since 2015 · 67 posts · 30 votes
    10y

    Im currently in escrow on a duplex in Fort Worth ( my first out of state property ) and im flying out this weekend to learn more about the community as a whole. I would love to hear more from you guys about the best parts of the DFW to focus my future investments on, and any other recommendations.

    This California investor is NOT scared : )

    0Reply
  • Glenn Mayo
    Fort Worth, TX · Member since 2015 · 80 posts · 16 votes
    10y

    I can't speak to Dallas, but I'd STRONGLY advise you to avoid Southeast Fort Worth (inside Loop 820) LIKE THE PLAGUE. Remember "Cops: Fort Worth"? Yeah. Stay away. Other than that, Fort Worth is pretty decent.

    0Reply
  • Hattie Dizmond
    Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Glenn Mayo

    Dude...what's wrong, you don't like the Seminary South area?  LOL

    0Reply
  • Glenn Mayo
    Fort Worth, TX · Member since 2015 · 80 posts · 16 votes
    10y

    LOL

    0Reply
  • Hattie Dizmond
    Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Jason Utley

    It's amazing how you Net Worth & New Western guys just keep multiplying.  

    @Bob Cooper

    PM me.  I'll be happy to share with you a market analysis that provides all the information you need to satisfy that the Dallas economy is tied to oil.  The fact is, Dallas is incredibly diversified, and the single largest sector is actually technology.  Again, I'm happy to share the report.

    0Reply
  • Anderson Schulle
    Turnkey Service Provider · Fort Worth, TX · Member since 2013 · 135 posts · 41 votes
    10y

    Hi @Mansoor Fazel, congratulations on your duplex. If you want to meet for coffee saturday early afternoon on the north side of Fort Worth, I'd be happy to give you a quick overview of the Tarrant County market. Might help you make best use of your time while here.

    @Hattie Dizmond well said. I believe the GDP of Dallas-Fort Worth is only 12% Energy. There were some great graphs in one of the Dallas Chamber of Commerce digital publications showing how diverse the economy is here (available for free online).

    Having said that, it'll be interesting to follow the long term economic impact of the inaugural LNG (liquefied natural gas) exports of the US starting this February/March at the Sabine Pass port by the TX/LA border and other upcoming ports. I believe Japan and India are among the first clients buying US natural gas.

    @Jason Utleycan you be more specific as to who you work with? I assume New Western or Net Worth (who I already work with). If it's someone else, then I'd be interested to be in your buyer's list. Good luck to you!

    0Reply
  • Jason Utley
    OP
    Real Estate Agent · Fort Worth, TX · Member since 2015 · 48 posts · 12 votes
    10y
    Originally posted by @Anderson Schulle:

    Hi @Mansoor Fazel, congratulations on your duplex. If you want to meet for coffee saturday early afternoon on the north side of Fort Worth, I'd be happy to give you a quick overview of the Tarrant County market. Might help you make best use of your time while here.

    @Hattie Dizmond well said. I believe the GDP of Dallas-Fort Worth is only 12% Energy. There were some great graphs in one of the Dallas Chamber of Commerce digital publications showing how diverse the economy is here (available for free online).

    Having said that, it'll be interesting to follow the long term economic impact of the inaugural LNG (liquefied natural gas) exports of the US starting this February/March at the Sabine Pass port by the TX/LA border and other upcoming ports. I believe Japan and India are among the first clients buying US natural gas.

    @Jason Utleycan you be more specific as to who you work with? I assume New Western or Net Worth (who I already work with). If it's someone else, then I'd be interested to be in your buyer's list. Good luck to you!

     I work with NetWorth

    0Reply
  • Pam Cleary
    Wholesaler · Fort Worth, TX · Member since 2009 · 39 posts · 16 votes
    10y

    David Pascucci

    You are a smart man.....Fort Worth/Dallas    LOL    You would be surprised when I talk to people and say fort worth/dallas area; it sparks a conversation.

    0Reply
  • Rocky V.
    Rental Property Investor · Arlington, TX · Member since 2012 · 788 posts · 640 votes
    10y

    Stay out of DFW it's  a horrible market.....lol.  Had 3 closings this week 2 were flips which were on the market for less than 5 days with multiple offers over asking and the other will be added to my owner financed deals (20% down, 12% interest). 

    I receive several deals from wholesalers but no longer look at deals from the 2 large companies as I find that it is a waste of my time.  Numbers are always incorrect.  I would think that if they had true deals they would only need to make a phone call to a select few and the deal would be gone within minutes. 

    4Reply
  • Michael Hayworth
    Contractor · Fort Worth, TX · Member since 2015 · 379 posts · 740 votes
    10y
    Originally posted by @Jason Utley:

    I'm looking to connect with those looking to invest in the Dallas Fort Worth Metroplex. I work with a large wholesale brokerage that sells 30-40 investment properties per month. 

    What are your thoughts about the DFW market place? 

    Who has worked with wholesale in the past and what are your thoughts?

    I love the DFW market. And there are some really excellent wholesalers here. But as @Hattie Dizmond and @Rocky V note, the two big companies are mainly just....big.

    The "N.W." wholesalers here seem to have a business model of overpaying for properties to lock them up, then overestimating ARV and underestimating reno costs in order to sell them to newer investors who don't know any better. As a GC, any time I get approached by a newbie investor with an "N.W." property, I know I'm going to have to break the bad news to them about real ARV and real reno costs.

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Jason Utley   I just came from 2 days in Dallas and looking at a few of my deals I funded were my vendor bought through your company.. and I am I have to say shocked to say the least .. total garbage totally misrepresented values and rehab.. just a very poor operator and can't believe anyone would do business with this company..

    So I concluded if folks as poor as this can stay in business Dallas is in a frothy bubble and you can prey on those that are caught up in the hype.. in 40 years of funding deals this is the worst product and presentation and representation of product I have ever seen.. its really a shame.. and actually I invite you to buy these back from us.. what say you.

    Dallas investors .. Caution Caution.. don't get fooled into buying from wholesalers that just tie up MLS deals and flip them you will be left holding the bag..

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Rocky V.  you said it best  Terrible presentation of product.. Gross misstatements of value and even grosser ( not sure if that's a word but screw it I don't care) estimate of rehabs.. I am going to work out of these only because of the strength of the market and by having to take my time to come down there I met some nice people that are reputable and real.. these companies are really really something.. cannot believe folks get sucked into buying form them  its astounding.. Buyers. .anything presented from these yahoos. just check it out if its listed just put back up offers in.. if everyone did that there deals would fall out and you will get them.. avoid these folks like the plague

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Hattie Dizmond Amazing market there that allows a wholesaler to simply put an MLS property they put into escrow and offer it as wholesale.. that's crazy ... buyers need to be smarter than that they are leaving thousands on the table.. just wait them out buy direct and save thousnads..

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  • Hattie Dizmond
    Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
    10y
    Originally posted by @Jay Hinrichs:

    @Jason Utley   I just came from 2 days in Dallas and looking at a few of my deals I funded were my vendor bought through your company.. and I am I have to say shocked to say the least .. total garbage totally misrepresented values and rehab.. just a very poor operator and can't believe anyone would do business with this company..

    So I concluded if folks as poor as this can stay in business Dallas is in a frothy bubble and you can prey on those that are caught up in the hype.. in 40 years of funding deals this is the worst product and presentation and representation of product I have ever seen.. its really a shame.. and actually I invite you to buy these back from us.. what say you.

    Dallas investors .. Caution Caution.. don't get fooled into buying from wholesalers that just tie up MLS deals and flip them you will be left holding the bag..

     I will 2nd everything @Jay Hinrichs is saying. I've analyzed any number of deals presented by both Net Worth & New Western. I have not found a single deal being presented with an ARV that even approaches realism. I have called out reps from both companies in public forums here on BP. I have provided facts and specifics, in painstaking detail, explaining why an ARV is inaccurate. The only response I've received is to tell me I should come to their office, sit down with them and let them explain their process. I don't need to know your process. I know how to construct a competitive market analysis...an accurate one. Buyer beware...run your own numbers, then run them again.

    4Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Hattie Dizmond as I dug into this with this company I looked at what they presented my vendor .. turns out their representation of ARV was off by 10%.. and their rehab budget put together by their in house SUPPOSSED contractors was off by 50%...

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  • Michael Hayworth
    Contractor · Fort Worth, TX · Member since 2015 · 379 posts · 740 votes
    10y

    Yeah, that last's the best part, isn't it? Oh, I can't send you info on the property. I need you to come in and sit down with me to understand our process. Am I buying a used car here?

    Look, I run a pretty large remodeling company. I have overhead and I can't price things as low as "two guys and a truck." The NWs seem to have the same situation. I'm really not sure that real estate wholesaling is something that can be effectively done by a large company and still give the investor a good deal. But the solution to that is to change your business model, not just present ******** numbers to make sales.

    2Reply
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