Beginning in fort worth.

26 Replies

Howdy! My wife and I are looking at operating in Fort Worth and I'm curious to see who all is active in the area. The goal for us is to flip while acquiring rentals to build a portfolio that allows us to move into property development. We are green to pretty much everything but we've been educating ourselves regularly over the last 6 months or so. Would any flippers, wholesalers, hml's etc. be interested in meeting up sometime?

Hey @Adam Hancock !  I would recommend starting your journey with a house-hack and scaling from there.  It's a solid foundation on which to learn, grow, and have fun!

I would also recommend taking Jay Marks out the lunch and picking his brain on real estate in the DFW metro.  He is a bastion of knowledge and before you start flipping houses I could see learning from him being a hyper-drive move.  Specifically you'll want to know what people tend to pay the most for in your area, what are the "clamor points" in your market (the things that people climb over each other for, like a 4 bedroom instead of a 3, etc), and what areas present the most value for a first and second flip?  Think singles and doubles instead of home runs here.

Best of luck on the journey, and if you even find yourself on this side of that old Red River, let's meet up!

Originally posted by @Will Fraser :

Hey @Adam Hancock!  I would recommend starting your journey with a house-hack and scaling from there.  It's a solid foundation on which to learn, grow, and have fun!

I would also recommend taking Jay Marks out the lunch and picking his brain on real estate in the DFW metro.  He is a bastion of knowledge and before you start flipping houses I could see learning from him being a hyper-drive move.  Specifically you'll want to know what people tend to pay the most for in your area, what are the "clamor points" in your market (the things that people climb over each other for, like a 4 bedroom instead of a 3, etc), and what areas present the most value for a first and second flip?  Think singles and doubles instead of home runs here.

Best of luck on the journey, and if you even find yourself on this side of that old Red River, let's meet up!

That sounds like a great idea sir and I will definately give you a jingle when I'm up that way again. 

 

Hey Adam

Good to hear you are jumping in. I'm starting out in the fort worth market as well and will add what I have found so far.

All Tarrant county property's  records are free to download online so you can pretty much have all the properties, residential and commercial.

A lot of flip activity takes place in the C class neighborhoods along  I35 between 820 and I20. Some of these areas are a little rough.

The cultural district is booming and there are gems if u take the time to look.

There are many pockets of nice bread and butter homes for rentals .

Most wholesalers are overpaying and so there is little meat on the bone.

The market has cooled down from the massive appreciation we saw over the last 5-10 years.

Wish you the best.

Originally posted by @Nyasha C. :

Hey Adam

Good to hear you are jumping in. I'm starting out in the fort worth market as well and will add what I have found so far.

All Tarrant county property's  records are free to download online so you can pretty much have all the properties, residential and commercial.

A lot of flip activity takes place in the C class neighborhoods along  I35 between 820 and I20. Some of these areas are a little rough.

The cultural district is booming and there are gems if u take the time to look.

There are many pockets of nice bread and butter homes for rentals .

Most wholesalers are overpaying and so there is little meat on the bone.

The market has cooled down from the massive appreciation we saw over the last 5-10 years.

Wish you the best.

 Howdy Nyasha,

Thank you for the insight. I'm operating with a friend out in the dallas area at the moment and he is a wholesaler. Naturally I live in west fort worth so making it out that way to manage everything is a little more difficul than I had anticipated. Then again, being new I'm sure it will get easier as we move along in the journey. 

How are you doing?

Originally posted by @Amanda Mack :

Hi Adam, I am in Ft Worth. We flip and also hold rentals. We also specialize in property management. I would love to meet and help you grow your business. 

 Howdy Amanda,

That sounds like an excellent opportunity and I thank you for offering, I'd love to meet up.

Originally posted by @Edgar Barrera :

Hello @Adam Hancock

Welcome to BP community. I am agent in the DFW and I come across distress properties from time to time. Send me some information and I can add you to my list of buyers. I am also up to grab some coffee or lunch some time. 

 Excellent sir, I appreciate that.

@Amanda Mack

Hi, do you have a team of contractors or know trustable contractors for flips ? I am interested in north ft worth or keller area , would you be able to help in flip, rent and managing property ?

I bought a single family house in Saginaw a couple years back. Solid cash flowing property in a good neighborhood with a quality tenant. The biggest issue I’ve had is the property taxes rise every year. Overall I’ve been happy with the house and neighborhood.

Originally posted by @Sohail Ahmed :

@Adam Hancock Welcome to BP community and FW flipping market. I have been flipping houses in north FW and mid cities area for the last 5 years. In my experience, the location is probably the most important factor in success of a flipping project. I try to find my projects in areas that are stable and/or are on a upward trajectory. I provide designing and construction services to investors. May be we can work together on some projects.

 That sounds like an excellent idea sir. I'd appreciate the opportunity to chat about it.

Originally posted by @Aaron Nannini :

I bought a single family house in Saginaw a couple years back. Solid cash flowing property in a good neighborhood with a quality tenant. The biggest issue I’ve had is the property taxes rise every year. Overall I’ve been happy with the house and neighborhood.

That is very close to where my residence is located. 

 

@Adam Hancock hey man I’m also looking to build a network on FW.. I am a realtor here but fairly new. My wife and I are looking to do similar type investment properties eventually.. so I’m not sure if I can help with what you asked about but wouldn’t hurt to expand the network.

Originally posted by @Kyle Dykes :

@Adam Hancock hey man I’m also looking to build a network on FW.. I am a realtor here but fairly new. My wife and I are looking to do similar type investment properties eventually.. so I’m not sure if I can help with what you asked about but wouldn’t hurt to expand the network.

All good brother,

For now I have partnered up and I am flipping in Dallas until the whole rona thing is done with. The wife isnt too comfortable creating a buy and hold portfolio at the moment but I'm working it.

 

Originally posted by @Adam Hancock :
Originally posted by @Kyle Dykes:

@Adam Hancock hey man I’m also looking to build a network on FW.. I am a realtor here but fairly new. My wife and I are looking to do similar type investment properties eventually.. so I’m not sure if I can help with what you asked about but wouldn’t hurt to expand the network.

All good brother,

For now I have partnered up and I am flipping in Dallas until the whole rona thing is done with. The wife isnt too comfortable creating a buy and hold portfolio at the moment but I'm working it.

 

 Awesome, are you still finding deals? Contractors on time, on budget?

@Ronald Rohde

We've had to let go of a few. Turns out some of them were doing $100 side jobs when they were supposed to be working on our builds. One of them was showing another flipper our work. Outside of that we squashed the problem by keeping them loaded up on work and managed to have a few guys on salary. That helped immensely.

Originally posted by @Adam Hancock :

@Ronald Rohde

We've had to let go of a few. Turns out some of them were doing $100 side jobs when they were supposed to be working on our builds. One of them was showing another flipper our work. Outside of that we squashed the problem by keeping them loaded up on work and managed to have a few guys on salary. That helped immensely.

 Nice, I've heard that the salary is a huge shift. You have to trust them to not be lazy and they trust you to keep solvent to pay them vs the chance to make more money doing more jobs. Let me know if you have any questions about employment, I do a lot of trade agreements for this.