All Forum Posts by: Dan Shoemaker

Mike Duran - Welcome! We have a pretty strong contingency of BP fans here in DFW! Although most everyone I have met here are in Dallas.. I think we need to have a Fort Worth meetup sometime soon... What say you, Brandon Turner??? ;-) I too listen to the podcasts on my daily commute from Fort Worth to (of all places) Plano nearly every day. Are you involved with any of the local investor groups?

Nick Pittari - Welcome! BP is an amazing resource! Also check out the local investing groups.. I know of Lifestyles Unlimited and The Roddy Roundup as two respected groups... You are among friends here.... Good luck!

Awesome suggestions guys! Thanks!

Robert,

It's when a group of investors get together to discuss all things investing. What's working, what's not, and generally just sharing and learning from one another. If you have the right group of people, it can be HUGE boost to your investor "mindset"!

Welcome Vib Baker!

Many of us are looking for new and creative ways to find properties. We used to be able to find a lot of good REO properties on the MLS - and they are still there but not nearly as good as they were two years ago. Wholesalers are an option but the "big" guys definitely tend to raise ARV and underestimate the rehab. Not such a big deal with buy and hold honestly - particularly if you're not using hard money for the initial funding.

A friend of mine in Dallas are starting up a small mastermind group - first meeting is over lunch today as a matter of fact! Let's keep in touch!

Jon Klaus - I'm curious to hear about solid 2% deals... When can we chat this next week?

+1 to all of the above! I've placed 20 offers with no deals and I've been wondering the same... I too have been thinking that I've been uber conservative.. Too afraid to lose money on the first deal I do.

Keep at it though! I believe that once you get the first one the others will be much easier!!!

I'm curious on this one.. It's obviously NOT in Long Beach ;-)
I know a 4-plex is appraised by looking at comps, but it seems to me you're more focused on cap rate. Jon would be looking for a 15 cap in Dallas but only a 7.5 cap in Austin.

Tim Ball: Welcome! Bigger Pockets is a great resource to get started! Also, try to get out to a few of the real estate investment club meetings. Just be wary of clubs who try to sell you something every single time you go to a meeting ;-) There's a difference between having an expo where subject matter experts pitch their product (separate from the actual meeting) and the meeting organizer trying to sell you his or her next "program!" I hope that makes sense. Several groups have mixers where you can meet other rehabbers and wholesalers which can be super helpful. Set up a keyword alert for Dallas and you will get to meet of ton of awesome people here on BP who live near you! Good Luck!

I agree wholeheartedly. My first rental property was in DFW, but it was 60 miles or so each way. Anything that could have gone wrong with the tenants I inherited with the property did. Once I got a PM, it was better. Not perfect, but at least I wasn't the one driving 120 miles to get the rent or file paperwork at the courthouse.

I've heard good things about Oneprop. But I haven't used them yet.