All Forum Posts by: Jibran Najmi

@Zachary D.

A principle that I live by not only as an investor, but also as a Realtor advising clients, is that no deal is always better then a bad deal.  While on paper you may be absolutely right about being bankable/qualified, speaking to a lender is the first step.  If you truly are serious about investing in the near future, you can always develop a roadmap/gameplan to attain your goal regardless of how financially qualified/unqualified you may be.  Even then so, you might not fit into the normal "mold" of investor/homeowner, and as @Jon Lee said there are other options out there such as portfolio loans which he mentioned, hard money, and even private money that can be accessed through networking, creating value and other methods.

With regards to making a strong offer you should expect a multiple offer situation for any property that cashflows, is in a decent area and is rent ready.  Thus, to make a strong offer, higher then average earnest money is required along with few contingencies - in some cases no contingencies at all.  To be able to do this, I would say begins with the investor/prospective homeowner themselves first.  Having a solid financial footing is crucial and from what you're saying on this forum, you are currently "strapped."  I would focus on moving the needle on that front first along with developing solid criterion for your desired purchase.  This criterion should be beyond simply property type (duplex/triplex) but rather understanding the relationship between square footage and price, location and price, price and cashflow etc.  This simply comes with looking at countless deals in a specific area systematically.  As a buyer you hold fantastic leverage in that you can enjoy the services of a Realtor for free, with the Seller paying out Realtor commissions.

I hope this provided value in terms of giving you a next step.  Good luck to you!

@Zachary D.

Congrats on your future move, and the decision to begin your investing career!  I lived overseas for 8 years as a child and loved every bit of it.  I think that doing so at least once gives you an unparalleled perspective and world view that you carry with and draw upon for the rest of your life.

As for your situation and major life decision, it sounds like you should talk to a lender and first off confirm you are where you think you are financially.  This doesn't necessarily mean you run credit etc., what it does mean is that you eliminate doubt.

Arlington is a fantastic place to live (I noticed you're a UTA alum), but like elsewhere in the metroplex prices are rising.  I think that while financing is potentially an issue, the bigger issue is finding the property that you speak of.  Supply is currently at historic lows, and as a result demand is high along with prices.  It may be a moot point to worry about the W2 aspect of it if the property isn't out there.  While I would say you have narrowed your farm area to generally Tarrant County, I would argue that once you have a deal in front of you, you can then take a look at financing it.

I recommend taking one step at a time and discovering your "why" for every decision you make going forward.

Good luck to you!

Jibran Najmi

Naveen-

I'm a Realtor in the DFW area. I actually grew up in Plano (75024) and know the area well. I'd be happy to prepare a CMA, any research your interested in and answer questions. Please reach out to me with your contact info. My info is below.

Jibran Najmi

@Austin Carr

Welcome to BP & DFW!  I agree with you on that you don't hear much about starting out and would love to hear your experiences and share my own.  We had an awesome meet up this past monday here in Arlington, and will be setting a date for the next one soon.

I look forward to meeting you at the next meet up, and you should get with @Myka Artis if you're interested in airBNB.  He's got lots of great experience in that and I believe just started a podcast about it too.

Have a great week!

@Elaine Liao

Welcome to DFW!  Let me know if I can help!

 @Mary Gansallo

Congratulations of your decision to invest and welcome to DFW!  (I think, your profile says College Park, Maryland).  I think that your criterion is definitely doable, you just have to be prepared to move fast.  One of the things we are seeing is that many properties are under contract in under 3-5 days of being listed.  While there are new properties coming on to the market everyday, staying on top of active listings is key.  Also, when making an offer, if possible all cash offers are the most attractive (of course this isn't always possible), with a significant earnest money deposit.

I actually think Arlington/Tarrant county is the best place in DFW to invest as you aren't competing with every person trying to live in Plano/Frisco, and the direction of growth is definitely headed towards South Arlington/Mansfield.

If I can answer more questions or help, please don't hesitate to reach out!

Jibran Najmi

@James Sargent

Hope to see you tonight!

@Steven C. Suarez

Please and thank you!

@Joseph Brown

Welcome to BP!

Congrats on the decision to learn about real estate, I think it will change your life and mindset in many ways.  Please let me know if I can help in anyway, I'd be glad to help!  I think @Account Closed has the right idea in terms of jumping into the forums and using that as one method of learning along with alerts so you know whats going on in your local area.

If you're interested, I'm actually hosting a BP Meetup tonight @ 7 PM in Arlington.  Its a casual event where you can meet local investors and those that are interested in real estate.  I hope to see you there!

BP Arlington Investors Meetup

7 PM @ The Grease Monkey

7/17/17

200 N. Mesquite, Arlington, TX

Just a reminder:

Mark your calendars for this Monday 7/17/17 @ 7 PM. We are having another meet up at The Grease Monkey in Arlington. 200 N Mesquite Street. This is an open invite for anyone interested in or currently investing. Come connect with fellow local investors.

Message me with any questions.