Everyone's an investor in Texas ;)

7 Replies

Hey BP community,

Been a lurker for a while and constantly reaffirming to myself that networking and helping each other out will lead to success. I'm looking forward to working with each of you on BP since it has provided so much in return already = podcasts, blog posts, materials, videos, forums, etc.

Currently located in Dallas and although it's pretty obvious the inventory has dried up and seems like everyone is an investor, I'm motivated in connecting with the right people and resources to facilitate success. Going to be proactive and call on a few folks who I've seen to be pretty active and knowledgeable and put myself out there to see if we could connect: Chris Soignier, Hattie Dizmond, Jon Klaus, Mark Allen, David Veeder to name a few.
Don't mean to alienate anyone as I'm a very network minded individual who sees the value in building solid relationships.

As for investing, I'm actively pursuing a multi-unit (duplex to fourplex) to utilize as an owner occupant but an looking to ramp up additional units by the end of the year.

I've gotten my foundation down and now want to get this knowledge into consistent action.

Have some ideas and questions to share as well on the forums, pretty excited to get involved here and start returning the favor to BP and what it has provided.

-Tom

Side Note: wife says I could pass for a Brandon Turner doppleganger being a talkative 6'5" beareded guy. But she says I'm slightly better looking, sorry Brandon! :P

Hey Tom,

Welcome to BP.  Youre right the DFW area os very competitive but there are still great deals to be had if you know where to look and are persistent in your efforts.  I wish you all the best.  I have a meetup in Plano in a couple of weeks.  It is a great opportunity to meet some other local investors and get some on the ground information.  

Our next meetup in May 18th at lunch.  I will include the link if you are interested.  Best of luck to [email protected]

https://www.biggerpockets.com/forums/521/topics/28...

@Tom Feret Welcome aboard?  Glad you finally took the plunge after being a lurker for such a long time.  There are many investor in DFW but there are also many "all hat no cattle" fellas as well.  There are still plenty of deals just have to be willing to put your time in.  Best of Luck!

@Mark S. Thanks for the invite, I'd be very interested in attending as this was on my current list of steps forward. I'll have to echo some of the other comments in the thread and say that lunch time meet ups might be a little tricky during the weekdays. If you could add me to you list/thread/email with updates I'd be on the look out for the meeting.

Thanks? I'm just messing with the typo @Rocky V. ! I've lived here for close to 5 years and definitely have seen the change firsthand with prices, inventory and demand. Definitely wish I was exposed to RE earlier but I'm encouraged by the vast amount of markets let alone within DFW.

Appreciate the kind words @Andrew Jones . I feel extremely motivated stepping through the learning curtain and putting all that education in some hands-on education.

Tom 

It has been three weeks since I "PAID" for seminars. Two weeks reading and staying up days at a time, to research "Due Diligence" on properties. You can say, that I am being very careful. And, it has paid off. I, just got my 1st deal. Network, go out and meet the people in the business or call. Just do it !! I will feel great.

Val

Hi @Tom Feret - did we exchange e-mails awhile back?

Sounds like you want to "house hack" as Brandon/Josh call it. This is how I got started with a VA loan.

I'd recommend finding several areas you want to live and pull mailing addresses on owners of multifamily properties. The MF properties I've seen come across the MLS are crap and in lower income areas (some wouldn't mind that, but not me).

Strike up a direct mail campaign to generate leads. Any leads you get, run the #'s and send those #s out on BP to get feedback.

The other way would be to network with realtors who focus on multifamily properties and get properties sent directly to your inbox; however, you'll most likely find better deals through direct mail and talking directly with sellers.

PS, I've marketed to sellers as a cash buyer and ended up purchasing with seller financing or a conventional loan.

Hey @Mark Allen I definitely called you out in the initial post :P 

It was for this very reason to see if we could connect. I'll definitely send you a PM and look forward to hearing back from you.

Like to hear someone actually come out and say that even if they advertise as cash offers, they have or could fall back on financing if necessary or if it works out.

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