All Forum Posts by: Dorian Wood

Local Guy Real Estate LLC is a new real estate investing company here in Dallas, TX. We have completed a couple of deals here in Dallas and are currently looking for private lenders in the area to fund more of our deals. Preferred terms are 80%ARV, <10% annual interest <2 points and 12 month loan term. If interested call or email me at 214-586-0603 or [email protected].

I’m a ortho resident here in Dallas, TX and my wife and I have been wanting to get into real estate for a few years now. So we did! We recently just did our first fix N flip here in Dallas. See link below. We did well with that property and are now using a profits to buy a duplex here in Dallas (currently under contract). Ultimately we want to acquire enough rental properties to retire in our 40s. https://www.zillow.com/homedetails/4317-Osborn-Rd-DALLAS-TX-75227/26784825_zpid

Hi I am a local investor her in Dallas, TX. I am currently looking for a sfr, duplex, triplex or fourplex in east Dallas or Mesquite area to buy. Any condition. Occupied or vacant. Also needs to cash flow. Please call or email me with any leads. And I pay referral fees! 214-586-0603 or email me at [email protected]. Thanks

Thanks Antoine for the advise

Hi my wife and I just got our first deal under contract! Closing in 2 weeks. It's a distressed property in the east Dallas area. Our strategy is to rehab the property then sell for profit or refi and rent. It's a total gut job will need 70k+ worth of repairs. The deal fell into our lap before we could finish building our real estate team. We need reputable general contractor that works in Dallas and has done flips before. Does anyone have any good recommendations? Thanks. 

Hey Steve welcome to BiggerPockets!

Thanks for the feedback guys

one lender told me that I needed to "season the funds" first, keep it in my account greater than 2 months, then the underwriter will just look at the money as cash... has anyone heard of this concept, he said this also goes for gifted funds

Thanks for the advice guys. I have considered other strategies including partners.

When you pay off mortgages you lose the main advantage of investing in rental properties which is leverage. You also drastically lower your cash on cash ROI. Also the more equity you have in the property more risk and liability you have. I wouldn't pay off the properties but instead use the cash you would of used to pay off the properties to buy more properties. Let your tenants pay off the mortgage!