Investor in the Dallas-Ft. Worth Area
Specialist · DeSoto, TX · Member since 2015 · 15 posts · 2 votes
Investor in the Dallas-Ft. Worth Area
Most Popular Reply
Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes
9yHello and welcome to this website! There are plenty of deals in the DFW area. I have lived most of my life in Dallas. As you know this area has always been pretty good and will continue those aggressive issues as long as the border is not cut out by putting up a wall. When you select your market just do the average property in that neighberhood. If financing will be involved it's better to get that figured out and having a loan letter that includes how long it typically takes to close the loan and the maximum amount you qualified for before you make offers. You could include a copy of that with your offers. The overall look of the neighberhood you invest in should be attractive and it will help you sell or rent it out.
Do not try to do everything yourself. I have read more than one time that mistakes and fear are pretty normal. Learn from your mistakes and try not to repeat them. Learn how to turn any fear around into something positive. Do not be afraid of anything to go ahead and start. Remember you not going to make retirement funds just to take care of your immediate family people but other family members. Do not cut any corners to make something look better on paper. When you plan on doing something plan on doing more than expected. Track everything you do and view that regularly so you can tell what you can do to earn more income and reduce expenses. Learning will help give you confidence. Learn for the rest of your life. Do not forget the usefulness of the 1031 form that keeps you from paying taxes.
I have spent the last 15 months learning from Biggerpockets and reading books while I medically recover. I am 60 years old and I am hoping I can get something that is flexible as far as time goes. I cannot really commit to anything right now but I would love to help you if you need any. I have heard several stories about low inventory making it a seller's market but there are still deals out there. Make sure you know of any laws and rules that apply to your prospective properties. I have been in the construction business since I was 17. I also held an active real estate broker license in Texas for about 30 years but never did that full time.
Good luck to you!
5 Replies
- 9yMichael S.Pro MemberBiggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
Welcome again to Biggerpockets Spence.
- Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes9y
Hello and welcome to this website! There are plenty of deals in the DFW area. I have lived most of my life in Dallas. As you know this area has always been pretty good and will continue those aggressive issues as long as the border is not cut out by putting up a wall. When you select your market just do the average property in that neighberhood. If financing will be involved it's better to get that figured out and having a loan letter that includes how long it typically takes to close the loan and the maximum amount you qualified for before you make offers. You could include a copy of that with your offers. The overall look of the neighberhood you invest in should be attractive and it will help you sell or rent it out.
Do not try to do everything yourself. I have read more than one time that mistakes and fear are pretty normal. Learn from your mistakes and try not to repeat them. Learn how to turn any fear around into something positive. Do not be afraid of anything to go ahead and start. Remember you not going to make retirement funds just to take care of your immediate family people but other family members. Do not cut any corners to make something look better on paper. When you plan on doing something plan on doing more than expected. Track everything you do and view that regularly so you can tell what you can do to earn more income and reduce expenses. Learning will help give you confidence. Learn for the rest of your life. Do not forget the usefulness of the 1031 form that keeps you from paying taxes.
I have spent the last 15 months learning from Biggerpockets and reading books while I medically recover. I am 60 years old and I am hoping I can get something that is flexible as far as time goes. I cannot really commit to anything right now but I would love to help you if you need any. I have heard several stories about low inventory making it a seller's market but there are still deals out there. Make sure you know of any laws and rules that apply to your prospective properties. I have been in the construction business since I was 17. I also held an active real estate broker license in Texas for about 30 years but never did that full time.
Good luck to you!
- Specialist · DeSoto, TX · Member since 2015 · 15 posts · 2 votes9y
@Michael Lee thanks for the feedback. You definitely have a wealth of knowledge I'd love to tap into. Is your broker status currently active? You have MLS access?
- Specialist · DeSoto, TX · Member since 2015 · 15 posts · 2 votes9y
@Michael S. thanks for the welcome.
- Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes9y
Hello again! Unfortunately I had a brain anuerism aand a stroke a few years ago and my wife did not tell me that we got a notice in the mail and she did not tell me about until it was too late to do anything about that but I could not walk then and I was totally depend on her and the Teaxs Real Estae Center told me that I would have to start completely over. I did hold a broker license active for about 30 years so I do know quite a bit about it. I would be happy to help you while I am still recovering. Since I am still recovering I have no tarted any work yet but I would enjoy helping you out. I am on BP just about every day. Best wishes!
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