All Forum Posts by: Dwayne Modisette

@Tyler H. A single structure with two or four units; a duplex/fourplex. I suppose triplexes would be in the mix too.

Hello, Andrew. Thank you for the reply.  From what are you basing general construction cost at $125 per square foot?

I would like to get some initial ballpark cost estimates on ground up building of a residential multi-family project in Fort Worth. Are there any builders on the forum who have completed du/fourplex builds in this area? Or, any investors who have done this? What's your story? What builder did you use? How did everything workout? Most importantly... What were your numbers?

If the sell price is low enough, anything could be a good deal. However, Stop 6 and Poly are areas where that number may have to be so low that the seller ends up paying you to buy it before it's a decent deal. Lol. Seriously though... I am sure there are good deals in that area. I steer clear though since there are plenty other target areas without the issues.

Hello, Kristian. I am also in the DFW area. My primary goal is to grow my single family rental protfolio and spread in to multifamily properties. Let me know how I can assist your endeavors! What part of DFW are you in? I may have some resources for you to connect with.

As mentioned in another comment... Milt Colegrove from http://TheLawFirmMC.com. I have not used him in that capacity yet, but have developed a relationship with him and, based on that, can highly recommend his services.

Hello. Contact Don McCartney at www.mccartneycpa.com. He is a licensed CPA, but has also been an active real estate investor for several years.

For an attorney, I would recommend Milt Colegrove of http://thelawfirmmc.com. While I have not used Milt for my real estate transactions, I know him on a personal level and would absolutely recommend his services.

I like to use Don McCartney of www.mccartneycpa.com as my accountant. He is in a unique niche in that he is a CPA, but has been an active real estate investor for several years. Give him a call.

The Keller and surrounding areas are so over-desired right now, it will take a few years to see where property values finally settle. Don't let that scare you from buying in the area though. A few years from now, when road construction is finished, this will be a prime place for young families with professional jobs and incomes. 

As to lowering your taxes, look for the law about how school taxes are suppose to be collected only from businesses, not residental properties. Few people seem to know about it. I was able to avoid ~$3,600 per year on my Arlington property. In escessecne, only businesses are suppose to be taxed for school taxes, not residential. It's one of those laws that has been buried over the years and will cause some laughs, but it does exist. Though it took some arguing, the city of Arlington finally capitulated and honored it.