All Forum Posts by: Brandon Craig
Brandon Craig has started 11 posts and replied 51 times.
Quote from @Alicia Marks:
Which side of DFW are you on? A meetup is a great place to meet people.
Quote from @Alicia Marks:
Bringing your downpayment and buying a property with another partner to potentially give more options for cashflow.
be up for it, I just don’t know where to find such connections
Quote from @Steven Foster Wilson:
Quote from @Brandon Craig:
Hey all.
Looking for advice on my first investment property but I don't know the best option to choose in DFW.
- Pre approved conventional loan for 600k / 15% down / 6.2% interest
- I have 50k total to deploy
- looking at long term rentals in the 200-230k range anywhere in the metroplex because I only have 50k to deploy.
- My goal is $300 minimum per month $500 ideal as I would like to get 20 or so and quit my tech job.
Thank you in advance.
Hi Brandon,
I recommend the major cities in Ohio:
-Columbus, great for appreciation, pp is a bit higher around $220k for multifamily
-Cincinnati, has a mix of cash flow and appreciation, average multifamily around $180k
-Cleveland, has alot of cashflow potential, average multiform around $140K
There are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.
Looking for cashflow? Look into Cleveland, its got good cashflow potential with appreciation happening as well.
Looking for appreciation come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!
I have had great success investing here. With Ohio being a landlord friendly state, it has just been a joy to grow my portfolio in this state.
Quote from @Alicia Marks:
Have you considered partnering and looking for opportunities to leverage?
Can you give specific examples for that?
Quote from @Reid Chauvin:
Hi @Brandon Craig - just so you're aware, if you are putting 15% down on an investment property loan, you are very likely paying discount points, probably a few thousand dollars' worth. If you put 25% down then you will likely not have to pay discount points for a similar rate. While putting 25% down will end up being more money upfront, at least that money goes directly towards equity in your home, whereas paying the discount points is just an additional fee to the lender.
Sounds good on paper of course. But in reality it won’t work because again I have enough capital for only 15%. I’d rather start now than wait another year for another 25k.
Hey all.
Looking for advice on my first investment property but I don't know the best option to choose in DFW.
- Pre approved conventional loan for 600k / 15% down / 6.2% interest
- I have 50k total to deploy
- looking at long term rentals in the 200-230k range anywhere in the metroplex because I only have 50k to deploy.
- My goal is $300 minimum per month $500 ideal as I would like to get 20 or so and quit my tech job.
Thank you in advance.
Post: LTR Dallas-Fort worth area
- Posts 51
- Votes 23
Quote from @Devin Bray:
@Matt Solis Thank you for the recommendation!
@Brandon Craig I get 10-15 off market deals a week all well below market value in Carrollton, Lewisville, Flower mound, Denton, Little Elm, Prosper, Aubrey, Pilot Point, Sherman, Denison, Gainesville, and Whitesboro. I get everything from single family, multi family, raw land, and in all rehab levels. I'd love to connect with you and tell you more about New Western and our off market deals!
He doesn't have any systems setup for off market deals like you do, and doesn't really focus on LTR anyways. I don't think it's right to jump ship with him for another realtor after the help he's provided.
What is best practice in these scenarios?
Post: LTR Dallas-Fort worth area
- Posts 51
- Votes 23
Quote from @Matt Solis:
@Brandon Craig Have you looked into off market deals? There’s a bunch out there where the numbers make sense if you’re willing to buy something that needs work.
How do I access off market deals?
Post: LTR Dallas-Fort worth area
- Posts 51
- Votes 23
Quote from @John Morgan:
@Brandon Craig
I invest in long term rentals in central areas like Arlington and Grand Prairie near major freeways, and in the center of the metroplex. I’ve also got 4 LTR in Ft Worth that do well. I buy around 200k and rent them for $1600-$2200. That’s where the demand is. Starter homes in this range appreciate better. And demand is strongest in this affordable housing range. 250k range will buy you a nice rental that’ll rent for $2100-$2300/month. But don’t pay higher than that because your return won’t be nearly as good. I have zero turnovers because almost all of my tenants won’t ever be able to afford or qualify to buy a house. Turnovers kill profits. And I don’t care about the school district. People aren’t moving into my properties for the school district. Lol. They just want a cheap place to live.
Area showed rent 2-2.2k/m.
what CoC is realistic in your experience of the areas you mentioned you invest in?
Post: LTR Dallas-Fort worth area
- Posts 51
- Votes 23
Quote from @John Morgan:
@Brandon Craig
I invest in long term rentals in central areas like Arlington and Grand Prairie near major freeways, and in the center of the metroplex. I’ve also got 4 LTR in Ft Worth that do well. I buy around 200k and rent them for $1600-$2200. That’s where the demand is. Starter homes in this range appreciate better. And demand is strongest in this affordable housing range. 250k range will buy you a nice rental that’ll rent for $2100-$2300/month. But don’t pay higher than that because your return won’t be nearly as good. I have zero turnovers because almost all of my tenants won’t ever be able to afford or qualify to buy a house. Turnovers kill profits. And I don’t care about the school district. People aren’t moving into my properties for the school district. Lol. They just want a cheap place to live.Sl
you're talking about SFH right? how old are the homes? Do you have a lot of cap ex issues? What is your cash flow looking like for one of those 200k homes? I assume they are C-D class?
thanks in advance I may look into those areas I grew up in Arlington