All Forum Posts by: Jason Haynes

@Erik Drentlaw - This one is off market. I have a contractor that owes me some work, so I didn't figure that cost into the calculator (since I'm not coming out of pocket). I agree, it does seem like a lot of equity, that's why I'm wondering about the condos. I'm questioning whether the market for condos is as solid as the market at large.

@Rolanda Eldridge - Thanks for the honest feedback about the HOAs and your experience with your townhome. Good to know.

@Dane Ohlen - Thanks for sharing about the rent. I'm a little worried about collecting $1100 on this one, but we'll see. I'm also optimistic about the local developments helping the appreciation. :) 

@Gyanendra Gautam - Thanks for the feedback, that's what I was thinking.
@Andrew Herrig - It's in East Dallas-ish. Around loop 12 and Abrams, there is a massive development going in across the street in the coming year. So I'm thinking there might be a bump in the local market. Thanks for your input!
@Christopher Giannino - Thanks for the feedback, we've started looking into SFHs as well. I'll also be sure to check with the realtor to see what the market can hold as far as rent. Thanks again!

I know most people here don't like investing in condos. However, I'm in Dallas, and the market is pretty solid right now. I'm not looking to cash flow as much as I am looking for long term gains. Since this is my first condo, I want something pretty hands-off. This assessment includes all the HOA, P&I, Insurance, Property Management, etc.

This is a 2/2 condo and way under current Dallas market. It should rent for $1000-$1300 (mo). I have figured $1100 in this assessment. Thoughts?

@Kevin Harrison - Yeah, that makes sense. Still though, it seems odd that they might collect the same amount on managing 5 $50K homes as 1 $250K home. I suppose that's why some try to talk you up on your investment strategy. 

@Zach Quick - That's a great point (the IRR). I'll have to be sure that's part of the process.

@Charles Morgan - Indeed. I have found some property managers that also offer flat rates, which seems to hedge against pushing higher rent properties. I'm not sure I understand why so many are at percentages. It seems most properties ($50 - $250K) would require similar attention, if not more for the cheap ones where they are paid less. Why would the rates (percentages) they charge not be higher for the problem investments...? 

I'm currently interviewing a few local (Dallas / DFW) property managers. Some have been very helpful with providing feedback on certain neighborhoods / areas. However, I can't help but wonder if they are slightly biased towards more expensive (stable) properties, since they are presumably less maintainance (ie a $150K SFR in Plano, TX vs $45K in Irving, TX). I've thrown out a few areas around Dallas, but I'm finding that all of them are coming back as 'bad investments'. I have to think the people investing in these areas are still generating cash-flow though.

I have a trmendous respect for property managers out there...I have no doubt that these property managers have way more experience with these areas. I'm just trying to figure out how seriously I should take the advice on a 'less than stable' (but higher cash-flow) neighborhood. Has anyone had any experience with this? 

@Adam Roberts - I would love that PM info as well. I've been interviewing a few, but would love a solid recommendation. I'm in the DFW area as well.

@Stephen Hundley - This is very inpiring. I keep hearing of people picking up deals on Friday afternoon. Way to hustle!

Hello BP, I just wanted to say hello. I'm an Architect with experience in residenital/commercial design and development. After working on other aspect of Real Estate, I'm now interested in investing for myself. I'm hoping to network with local Dallas / DFW people that are also doing deals. I've been reading up on everything BP for awhile and I'm about to get into my first SFR deal(s). Once I figure things out, I intend on getting into MFR.

Anyway, just wanted to say hello and thank everything for the great info on here!