Newbie from Fort Worth, Texas

14 Replies

Hello World!

I have been lurking on the forums for about a year really learning a lot and enjoying the interesting personalities. I upgraded to Pro a few weeks ago to explore the other forums and to be able to watch the webinar replays.

A bit about me: I am originally from a small Central Texas town of 2,800 people. I moved to Fort Worth over 14 years ago to attend college and have called it home ever since. I am married with 2 young kids and have been with the same company for 10 years in various roles but doing BI/Analytics (programming) for the past 5 years. I grew up interested in real estate as my parents built a large part of their wealth through rehabs and rentals which they eventually 1031'd to a small commercial property. I have read dozens of investing and real estate books over the years and even focused my electives in undergrad and my recently completed MBA to learn more about REI.

A bit about my REI plan(s)/goals: I have 1 rental property that I purchased 2 years ago; its located about an hour away that is manged by a PM. My brother and I also created an LLC last year to start flipping with the goal to build up additional capital; we completed our 1st one and sold it in May of this year. The flip was an MLS listing and a major project that we learned a great deal from. With the current market in DFW we decided to go back to drawing board and explore working with wholesalers or marketing our own off market deals. We have setup a couple of lunches to meet some locals and learn more in the past few weeks. Long term I hope to keep the partnership active and also acquire buy and hold properties personally for my family. I would love to connect with anyone locally that wants to talk real estate as it is most certainly my passion.

I am thankful for the wonderful resource that is BP, not just from the information shared, but the connections it creates for like-minded investors. 

@Codie Riggs

Welcome to BP and good call on the pro membership ;) Keep in mind it also allows you to post in the marketplace, which can come in handy

I just acquired my first rental via BRRR strategy in Atlington TX. Working directly with sellers, or at least via a wholesaler, definitely seems like the way to go at the moment in DFW. Be sure to run your own numbers on anything presented to you, as the pro formas tend to be very optimistic!

If you can build some sort of creative advantage that allows you to complete a specific rehab cheaper than the next guy, that would allow you to take on the more marginal deals and still make a profit - for example, can you find cheaper financing? Can you remediate mold/foundation/fire damage/alum wiring issues , or any other niche that you can become an expert in?

Best of luck in your business!

D

Hey @Codie Riggs - welcome to REI game here in D/FW!

Let me know if I can be of assistance as you build your business.

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"The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one." ~ Mark Twain

Yes.  There is a monthly meet-up for the Tarrant County area.  Adam Wright is the host.  Last month he convinced a title company to let the meeting occur on the patio at GlobeLife stadium while the Rangers played the Padres.  Shoot Adam Wright a PM and ask for the details.  The August meeting is happening soon.

Welcome @Codie Riggs it’s a pleasure to have you here! You will find this a tremendous resource for all of your real estate needs. You may want to set up some “keyword alerts” to notify the topics that interest you the most.

All the best to you!

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