All Forum Posts by: Carl S.

@Matt Merrill are you looking for MLS access as well?

Cashflow Cow ideal for local or out of state investors with current rent collection is $8390 per month!

All the heavy lifting has been done but still an opportunity to do further cosmetic updates/upgrades and increase rents.
Duplex 1 (collecting $1905/mo)
1986 Built, 2/1 and 1124sqft per side. Updated in 2016/2017. Lots of development in the neighborhood.
Duplex 2 (collecting $2550/mo)
2005 Built, 3/2.5/1 1368sft per side. Updated 2017/2018. Stainless steel appliances. New apartment $35mil+ community being built at the end of the street.
Duplex 3 (collecting $1885/mo)
1984 Built, 2/1.5 849sqft per side. Fully rehabbed 2017. Stainless steel appliances. Less than 1 mile from the $175mil redevelopment of the stockyards.
Duplex 4 (collecting $2050/mo)
2008 Built, 2/2 939sqft per side. Well maintained but an opportunity to update and push rents. Within 2.5 miles of Medical district and TCU. Landlord pays water on this property ($100-130/month)
We have been utilizing a great local handyman who is landlord friendly, he is familiar with all the properties and residents. Would gladly pass his details on to the next owner, and likewise with the lawn service.

Selling as a portfolio - $835k

@Ryan Blake I agree with you to some extent however in @Manasa Srinath case I don’t think she should be overly concerned about the apartments. For one, most of these apartments are A class and asking crazy rents. Two, and most importantly, a tenant (family) looking for a 4/2, 2000sqft sfr is most probably not going to be the same tenant who would move into an apartment. While record number of apartments have been delivered, in the last year the Dallas-Irving-Plano metro has added about 70,000 jobs. I do think the market is starting to “normalize” and we are going to rates that are more in line with national averages rather than the high growth and demand we’ve seen in the last few years. Just be patient @Manasa Srinath you will find a tenant soon and be sure you’ve checked what your comp’s are renting for.

@Manasa Srinath I would say missing the start of the school year is probably what is hurting the most. You also have to think about the demographic which your property appeals to. My suggestion, not knowing your circumstances nor the condition of the property, would be to reduce the rent so you can get it occupied ASAP BUT only offer a 7or9-month lease term, so they are out in May'19! Then do a good make-ready/light rehab (possibly just new paint, the smell of fresh paint makes a world of difference!)  and have it rent ready in late June or early July! you would probably then be able to collect a premium rent again and your lease terms will sync with the summer so next time shouldn't be as difficult to lease.

@Paul Rosenbeck Well done on your successes. The fact that you understand what accredited and sophisticated investors are is a step ahead of most aspiring syndicators. I would however strongly recommend joining a mentoring program that will help you pull "all the bits and pieces" together. I am in Brad Sumrok's program and the "eco-system" that Brad facilitates is amazing! From attorneys (including Gene Trowbridge who I met this last weekend), due diligence engineers, GC's, 3rd party management companies, lenders, and "all the bits and pieces" you need for a successful syndication - not to mention the great broker contacts for sourcing deals! You can absolutely syndicate without a mentor and without being in a "sophisticated" group but I assure you that you will get things done a lot faster and smoother if you are. Let me know you want any further info. * this is of course if you are interested in multifamily "commercial" (apartments), which is what I assumed after reading your initial post

Hi @My Pham. Great sub markets! I currently own properties in Fort Worth. It would be my pleasure to assist you.

Hi @Andrew Machado, are you still needing an agent? I am an investor, turned agent due to being let down by too many other agents. All my current investments are multifamily properties and it would be my pleasure to assist you and your wife in building your real estate investing business. Kind regards, Carl

@Ian Jackson, sent you a PM. Would be a pleasure to assist as I know those areas well.

Hi Nickolaus. I am an agent in DFW, what areas (Metro) are you interested in? 

Download an app, CrimeMapping, it works well for Fort Worth. Yeah I agree with Mitchell!