All Forum Posts by: Corey Young

Hi Bryan. Welcome. I've lived in Tyler for the last 5 years or so and bought my first BRRRR this year. Don't know how much is in my profile, but it was an off market deal I found through a contractor I know. Currently got it rented and hoping to refi or 1031 into something bigger next year (after Covid, grad school, and a new baby aren't taking up all of my free time.) Feel free to reach out. There are a bunch of local investors to lean on in the beginning when you're getting your feet wet.

I have also seen this. It has to do with what sellers are willing to pay. If investors or people looking to move away from California for example are buying houses here (and they are constantly), it is hard to compete with their offers of 15k over the asking price. I ran into that problem multiple times where I put in a bid a few thousand less than asking price that I KNEW they would accept, only to have an out of state investors blow my offer out of the water. 

 Nearly done. Couple more coats of paint and a few odds and ends and it’ll be rent ready :)  

I am in Tyler. Just bought a rental that I'm rehabbing. Angie is someone I've spoken to and she is invaluable with helping take those first steps. Do your research first. Inventory is low on "great" deals because people pounce the day after something comes on the MLS.

@Eric James

Unless it’s a 1031 exchange, right?

Investment Info:

Single-family residence buy & hold investment in Bullard.

Purchase price: $72,000
Cash invested: $14,500

2 bed/ 1 bath house

How did you find this deal and how did you negotiate it?

Found this deal through a contractor I made a connection with while looking at bids for other properties

How did you finance this deal?

Conventional loan

Lessons learned? Challenges?

Shop for your mortgage lender. A bad lender can make the entire process a nightmare

I am currently working with an agent, but the houses we are seeing right now aren't close to what I'm looking for. They are too new. I'm hoping he/we can find something that needs work that the seller has a realistic mindset about. Too many FSBO are overpriced because of their attachment to their home.

am currently looking for real estate in East Texas to invest in. I am looking for SFR that I can BRRRR in the Tyler, Texas and surrounding area.

I have had 6 deals swept out from under me due to needing an agent to get anywhere with sellers and get inside these homes. By the time I have seen the houses and go to make an offer, the houses are off the market.

I am willing to partner with someone or pay a finders fee for any “bird dog” types who can find a successful deal.

@donscott @lisaeckman
Thank you! I read that before but never put the pieces together.