All Forum Posts by: Jibran Najmi

I went to West!

@Veena S.

I would steer clear of Viridian and Plantation homes in general

@Eric Lee

I am a Realtor in the DFW area, and my family is from Plano.  While there are some deals to be had, I think you are going to be very hard pressed to find the deal that you speak of in the Collin County/North Dallas area especially under $200K.  If it is possible, I think it will end up coming from an untraditional source such as a short sale/foreclosure, and will ultimately need some significant work.  I agree with @David Veeder in that 1% rent is hard even in other areas such as Tarrant County, but that 0.85% - 0.95% is a great target.  With regards to deals being accepted, I think you will make your offer more competitive by offering to pay for a title policy, survey or reducing your option period.  Most of the properties that I am offering on have multiple offers, and are won or lost on the details.

I hope this helps, and if you have further questions, please don't hesitate to reach out to me.

@Kyle Bilton

Details for the next meet up are posted.  Look in the events section for "Arlington Investors Meetup"

Arlington Investors Meetup

Monday, August 21, 2017

7 PM - 8:30 PM

1700 Wellington Court

Arlington, TX 76013

We will be getting together for our monthly meet up here in Arlington. This month will feature two speakers from local vendors/trades that work with investors, and will be hosted inside a local member’s househack/flip. Come meet other local investors, contractors, Realtors and wholesalers. This is strictly a networking event with No Pitching.

The price of admission is absolutely FREE. We will be providing light snacks/food, but welcome any contributions if you would like to bring something. To celebrate the end of summer we plan on firing up the grill, so if you would like something specific please speak up!

For more info, suggestions or coordination of contributions (food/drinks) reach out to @Jibran Najmi

@Tarron B.

Welcome to BP!  I think you're doing all the right things by educating yourself first and then taking calculated risks.  Good luck on the fourplex and let me know if there's another one in the same neighborhood for me!

@Ray Li

This is definitely a series of questions for a licensed real estate attorney.  I can refer you to several if you email me.

I am not giving you legal advice, but in my limited experience with this, anytime I see a conversion on a property and see there were no permits filed many, many red flags go off for me.  These are just some of the questions going through my head:

1) Who did the work?  Were they licensed/bonded?

2) If the owner didn't want to pay for a permit, why would he pay for quality work?

3) If there is no permit filed, and will it pass a code inspection?

4) If the seller chose not to get a permit, what other material facts regarding the property may they be concealing?  Why did they make this choice in the first place?

Bottom line: Costs for permitting will most probably be determined within a specific locale, but if you are doing quality work, this is not something you skimp on.

I will say that I have read instances where a buyer was held responsible for bringing a conversion/addition up to current code after the seller did the work without a permit.  I would be very suspicious and ask lots of questions as to why the seller made the choices they did.

@Kyle Bilton

Kudos for having more patience then the rest of us and being an educator.

Also, Welcome to BP!  I think you'll find some fantastic information along with people to help you every step of the way.  Like @Myka Artis said we have been meeting up once a month with other people who are passionate about real estate in a casual setting and no obligations.  We found that there are tons of meet ups locally, but they all are attempting to pitch you something, or get you to enroll in expensive training or memberships.

I am in the process of setting up our next meet up, and look forward to seeing you there!

@Harriet Mugweru

I am a Realtor out of Arlington, and have a network of vendors, contractors and tradesmen that we refer, have relationships with and have vetted.

You can find a list of them below:

Century 21 Judge Fite Connection Partners

If you do end up using one of them, please tell them that I referred you!

Let me know if I can help in any other way!

@Tamyra Campbell

This sounds like a very unique property and could possibly be a deal.  I would also say that all of your questions are fantastic questions for your Realtor.  Realtors are obligated to be fiduciaries to you (they put your interests ahead of their own) and as a buyer there literally is no reason to not hire one as the seller pays their commission.  Have you contacted your Realtor and discussed this with him/her?