New guy from the East Texas (Tyler, TX) area

New guy from the East Texas (Tyler, TX) area

Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes

Hey everyone, I'm Todd and I am from Tyler, Texas.  Tyler is roughly 2 hours east of the Dallas/Fort Worth area, about the same from Shreveport, Louisiana , and about 4 hours from Austin.  

My only experience in real estate is from two previous personal homes in the past. I have zero experience as an investor.  

I have become sort of an adopted family member to a family who does have some initial experience in rentals. They were living in their home here and had to move to Austin, so they rented out their home here and purchased a second home in Austin.  Now they have just moved back here and they are preparing their Austin home to make an attempt to use that as more of a hotel type property, renting it for really short timeframes of about a week or so. I think they are mainly considering this because they like the idea of having a place to stay when they travel to Austin themselves.  They have purchased a third home back here in Tyler that they are currently occupying. 

I have been interested in doing something in real estate investing for some time and talking with them prompted me to quit putting it off and begin to take steps to actually take some action.  I do tend to over-analyze and this seems like a large initial step and I would hate to get started by making a mistake. 

I work full time for an electronics systems contractor company.  We sell, install and service commercial electronics systems including Nurse Call Systems, Fire Alarm Systems, Intercom Systems, Security Camera Systems, and Access Control Systems to name a few. I have been a residential electrician in the past and have also done some framing carpentry work on new homes, so I am familiar with how they are put together. 

I have been ramping up my contributions to the retirement plan and putting money into a ROTH, but last year I was looking at how that is going and it doesn't look like it is going to be enough to make for a comfortable retirement unless I continue on until I am almost dead.  So I am looking at taking more control and finding better options. Buy and Hold Rental Investing is what I have mainly been interested in.  I do not know much about flipping or other options.  Building up to multiple rental incomes seems like a pretty straight forward way to get to my goals. 

I do landscape photography as a hobby with a small bit of income from the sale of prints, and I have done some real estate photography.  I figure this might come in handy at some point in the process. 

It appears that there is a massive amount of information to absorb here, so I will continue to read and watch and soak up as much as I can while putting cash back to get ready to dive in. This appears to be a very helpful and encouraging place from what I have seen in my time lurking around the site. 

I am looking forward to getting to know the community here and hopefully I can contribute as well as learn. 

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  • BiggerPockets Support · Manila, Philippines · Member since 2015 · 1k+ posts · 148 votes
    11y

    @Todd Aaron

    Welcome to Biggerpockets family! Glad to have you with us.

    BiggerPockets
  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y

    Hi Todd, welcome aboard. There is a lot to learn, but you certainly don't have to learn it all. I'd suggest that you start listening to the BP podcast, maybe when you are in your car.

    I do some investing in Austin, and some in DFW too, and have a restaurant in Canton, which isn't too far west of Tyler.  I like the Tyler market, but haven't done anything there yet.

     We're glad you joined us! 

  • Property Manager · Sacramento, CA · Member since 2015 · 161 posts · 24 votes
    11y

    Todd,

    Welcome to BP.  Tyler looks like a great place to live (checking it out on google earth).  Especially Lake Palestine!  What do you know about the area between the Lake & Tyler (Hwy 31 & 155).  Maybe check the cities plan for development and get in front of it.  I would think people would will to live closer to that lake.  Just my 2c...

  • Investor · Forney, TX · Member since 2015 · 90 posts · 30 votes
    11y

    Welcome to BP.  I was born in Henderson, moved to Whitehouse when I was 4 and then to Forney when I was 5.  I spend a lot of time in East Texas, we have a power plant outside of Tatum.  

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    Thank you @Rachelle Rodavia!

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    Thanks @Jon Klaus!

    I am about to head home here in a few and I am picking a podcast now to listen to on the way. 

    I spend a lot of time in the Austin area and west of there photographing out in the Hill Country, and I end up in Dallas quite a bit too since it is so close. 

    Which restaurant in Canton do you have? 
    I'm sure you know Henry Lewis if you have done much in the Canton area. He is the uncle of one of my co-worker's here. 

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y

    Henry Lewis has a pretty great real estate strategy. My restaurant partner/operator, Ben Carter, knows him pretty well. Henry likes our burgers. Buttermilk's on the square.  We are in a building built in 1890. I tried to buy, but our landlord is in acquisition mode.  

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    @Jeff Caravalho thanks! Yes, Tyler is a great place to live. I've been here all my life except about a year.  It is a good smaller city with easy access to DFW.  Medical is big here with 3 large hospitals as well as Education with the very popular Tyler Junior College, a branch of UT (Ut Tyler Campus), as well as Texas College. There is also a decent bit of manufacturing.  

    I used to live at Lake Palestine growing up until I was 18 and I know that area between Lake Palestine and Tyler very well. There are a lot of developments all around the lake and through the area between. I had not thought about looking around that area before for some reason. Most of the nicer developed areas on the lake have HOA's. I had been looking more inside of Tyler in areas around the hospitals mostly.

    Tyler's new development is expanding in a mostly southward direction.  

  • Investor · FL · Member since 2015 · 54 posts · 22 votes
    11y

    Hi Todd,

    I am new here as well. Looking forward to seeing us both grow on this great site!

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    Thanks @Aaron Crow! My grandparents were from the Henderson area.  I have some family down there still. Maxwell and Murphy are their names.

    Are you talking about the Martin Lake Power Plant?

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    @Jon Klaus

     I am not familiar with Henry's RE Strategy except that he seems to own most of the Canton area. lol 
    My co-worker told me he would set up a meeting with him whenever I was ready to talk to him.  I told him I wanted to learn a bit more before I did that so I could ask some intelligent questions.  

    I am going to have to stop in and try one of those burgers.  I love a good burger.  I will ask Colby (co-worker I was referring to) if he has been there. I'm sure he has. He lives just a few miles from Canton. 

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y

    Hey @Chase Maher! I'm looking forward to it!  Best of luck man!

  • Toronto, Ontario · Member since 2014 · 615 posts · 172 votes
    11y

    @Todd Aaron

    Welcome to the BP nation!!

  • Investor · Forney, TX · Member since 2015 · 90 posts · 30 votes
    11y
    Originally posted by @Todd Aaron:

    Thanks @Aaron Crow! My grandparents were from the Henderson area.  I have some family down there still. Maxwell and Murphy are their names.

    Are you talking about the Martin Lake Power Plant?

     Yup, that is the one.  I spend a lot of time down there.  Friend of mine lives in Kilgore.  I actually went to college in Longview (LeTourneau).

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y

    Re:  LeTourneau- I loved his book, Mover of Men and Mountains. I've also been to Pine Cove on Lake Palestine and bicycled around it once. 

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y
    Originally posted by @Todd Aaron:

    @Jon Klaus

     I am not familiar with Henry's RE Strategy except that he seems to own most of the Canton area. lol 
    My co-worker told me he would set up a meeting with him whenever I was ready to talk to him.  I told him I wanted to learn a bit more before I did that so I could ask some intelligent questions.  

    I am going to have to stop in and try one of those burgers.  I love a good burger.  I will ask Colby (co-worker I was referring to) if he has been there. I'm sure he has. He lives just a few miles from Canton. 

     A meeting with Mr. Lewis would be cool. Maybe he'd let you test drive a Z06.   We should connect and I'll tell you about his Van Zandt County real estate sometime.  

  • Investor · Forney, TX · Member since 2015 · 90 posts · 30 votes
    11y
    Originally posted by @Jon Klaus:

    Re:  LeTourneau- I loved his book, Mover of Men and Mountains. I've also been to Pine Cove on Lake Palestine and bicycled around it once. 

     Jon, I went to Pine Cove as a kid.  My family has some land in Palestine now just south of Tyler.  

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y
    Originally posted by @Chase Maher:

    Hi Todd,

    I am new here as well. Looking forward to seeing us both grow on this great site!

     Welcome to BiggerPockets, Chase!

  • Longview, TX · Member since 2012 · 368 posts · 131 votes
    11y
    Todd Aaron welcome to BP. I live in Longview and have done a couple deals around here. There's a meeting group out of Tyler that routinely meets in Lindale but I've been unable to make one to date.
  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Todd Aaron

    Welcome to Bigger Pockets community. Be sure to check out “Learn” for all kinds of useful resources and free how to guides.

  • Investor · Cedar Park, TX · Member since 2014 · 317 posts · 74 votes
    11y

    Welcome, I am located in Austin feel free to reach out.

  • Rental Property Investor · Dallas, TX · Member since 2012 · 502 posts · 263 votes
    11y

    @Todd Aaron

    Welcome to BP! I grew up in Tyler (Whitehouse actually), and now live in Dallas. I think you are in a good market - less competition than DFW, but good economy and steady growth. 

  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    11y

    Welcome to BiggerPockets Todd and good luck investing!

  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y
    Ndy Onyido thanks!!!
  • Rental Property Investor · Tyler, TX · Member since 2015 · 51 posts · 15 votes
    11y
    Aaron Crow I have ex-in laws in the Kilgore area.
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