All Forum Posts by: Bruce Lynn

@Adam Beasley I will be here all week this week and working all week if you'd like to meet up. We can look at your list, look at the rental comps, and determine a good strategy for you. Your rental comps look high to me for most of this area. Typically anything with monthly HOA is going to kill your return. Very few places work well for investment with that kind of HOA fee.

@Bo A Vanecko   I will be here over Thanksgiving if you want to meet up.   Everyone has their own strategy and own success.  What I can say is the area you describe can be some of the toughest in Dallas.  A few areas are starting to turn, but it can be tough.   One of my criteria is to buy where you would feel comfortable with your wife going to knock on the door to collect rent after work when it is dark?   Not sure all of that area meets this criteria.

6% sounds way too low to me.  10% is normal.  I don't think anyone gets rich off of property management...although it feels like it sometimes.  If they're only charging 6% they're likely going to make it up from you somewhere else.....like frequent turnover of tenants....or upcharging on maintenance.

I'd be happy to give you an independent look at any of the deals they are offering to you.

@Lane Kawaoka   Happy to meet up with you the next time you are here.   

I would think whole is no different than any other contract?

Your broker may want the seller to sign IBS since you are licensed and also a TAR Broker Registration Agreement.

@Brandi R.   Did you go?  What did you think?  Never heard of him, but just about ever Guru seems to have Dallas on their list and filling up hotel ballrooms this year.   Leave your money at home and don't sign up for the next course immediately.  

The http://dfwinvestors.com/ is free networking once a month.  Probably the biggest and best group I've been to.  Not perfect, but works.  Too many other pitching something expensive.

@Tim Healey    Did you ever find the right property in Dallas?   Here to assist you if you need someone else to bounce any ideas off of...

@Corey Jahn   Did you make the move yet?  Happy to meet with you.  Southlake and Grapevine are very very different places.  Next door to each other, but different.  I'd be happy to have coffee with you if you are in the area and have the time.

PAM---Pam Blanco  Property Asset Management.Address: 2201 N Collins St Ste 240, Arlington, TX 76011

Bobbi---Wilco in Fort Worth...Address: 3500 Hulen St, Fort Worth, TX 76107

---Trend  Address: 204 S Main St, Keller, TX 76248

---Renters Warehouse....Address: 5304 W Plano Pkwy, Plano, TX 75093

@Nate Falconer Did you ever get the info you needed. Cash and Financed offers both go in MLS. Not all sales are there, but many will be. Normally enough to give you an idea of what you need. If you still need help just let me know.

4-5 areas that come to mind.

West Dallas....so South of 35/183, north of 30... East of Loop 12, West of Downtown.  You can see the beginnings with the new bridges and the Trinity Groves area.  Lots of smart investor money there, but also old rich guys that have money to burn and experiment with.

Further South around Ft. Worth Ave and Hampton.  There are some cool old houses around there that are just begging for some young guns like you to come in and buy the homes, rehab and turn the neighborhood into the next Kessler/Bishop Arts.   Drive along Coombes Creek and Irwindale area.

Stop Six in Ft. Worth..... search on this in google and you will see the city wants to pour a lot of money into what could be one of the cities toughest neighborhoods historically.  

A couple of other pockets in Dallas.  SW of Inwood and Oaklawn.   Interesting when I started researching this area, there were lots and lots and lots of lots owned by a city big wig...forgot now if they were City Council or County Commissioner...but someone like that.   They usually have some insider knowledge.  I want to say they owned something like 50 lots or houses.

SW-West of UT Southwestern....small neighborhood around Inwood and Harry Hines.

As someone else mentioned the neighborhood just NW of Mockingbird and Inwood.  I call it the bird streets....Oriole...Thrush...etc.

Almost all of Farmers Branch.  Should be plenty of homes and owners/just past retirement age that will be turning in the next 10 years.  Great central location.  On DART line.

This should keep you busy.