All Forum Posts by: Joe Funari

@Robert Ok I am a fellow veteran & investor working here in the Dallas/Ft. Worth area. I have helped many fellow veterans over the years use the VA Guarantee (some call it a VA Loan) to purchase a multifamily property. With the VA Guarantee its zero down payment. But you must occupy one of the units for a minimum 1 year. So the biggest challenge my clients in your situation have is that one of the units is vacant or will be vacant in roughly 45 days. But definitely doable. But first I recommend you get your Certificate of Eligibility (COE) from the VA and get a pre-approval from a VA approved lender. I would strongly recommend you work with @Andrew Postell. He is a fellow veteran & investor as well. He has helped me & and many of my fellow veteran clients get our COE from the VA and a pre-approval for purchasing a multifamily property. So start there. 

Regarding the data for Rent Growth, Vacancy/Absorption, Price Per Unit, etc. I run the sold and rent comps for a specific property your interested in. Plus, pull other data that is relevant to this specific property. A lot of this data you seeking isn't public data becuase Texas is a Non-Disclosure state with regards to real estate transactions. So best way to pull this data is working with a licensed realtor. 

Plus, I have been an investor for many years. So I will be your "Boots on the Ground" to give yo that insight to make sure your making the right investment. Plus, my decades of experience as an investor, as well as, my contacts that have helped me become financially free will be your contacts. Andrew Postell is one of them (Thanks for the shout out Andrew!). Hope this helps. But I wish I would have started my REI journey this route. But my bride of +23 years doesn't want to live in a multifamily. Maybe someday when we are empty nesters, LOL. Hope this helps.

@Nikelyia Waters When I started out as an REI over two decades ago I read Rich Dad Poor Dad. And like an idiot did their initial training. Which was very expensive. But then I started attending a local REI Club meeting. Cost was substantially less. Plus networking with other "seasoned" investors and learning from their experience was much more valuable. For example the "Guru" training I attended always would state "Subject state and local laws." They would tell us to check these laws for applicability where were were located. It was frustrating because I wanted specific local expertise to help me in my REI journey. But when I attended a local REI club wholesale training it was much different. They said you need to put out "bandit" signs to attract distresses sellers. But they would go a step further and say don't hang sings in specific local cities. The reason was they will call that number and fine you for hanging a sign without a permit. Other cities don't require a permit. It was that local, practical expertise I was craving. And at a substantially lower price.

So do yourself a favor and moving forward when you post let the BP community know what city your investing in. That way you get the same local, practical advise. Because real estate laws are regulated at a state level. So 50 different set of rules. So find one market and become an expert in that market. For me its the Dallas/Ft. Worth area. Hope this helps. 

@Sam Chan I am a fellow investor & realtor working in the Dallas/Ft. Worth area. I have been a realtor for +9 years helping out-of-state investors buy and sell here. There are always investment opportunities here. You need to decide what your exit strategy is going to be. I personally recommend a buy and hold exit strategy if your investing here. Hope this helps you in your REI journey.

@Nicole Blasevich I am a Realtor & Fellow investor with +9 years experience as a Realtor working with other investors. Especially out-of-state investors. I have personal experience with all the exit strategies you mentioned. But only work in the Dallas/Ft. Worth area. 

I would suggest you narrow where you intend to start investing first before reaching out to agents. Your on the right track first connecting with an agent. Especially one willing to share their contacts and help you avoid the pitfalls that many first time investors make. Hope this helps. But willing to help you in the DFW area on your REI journey. Words are free.

@Joseph Cheley I recommend @Kyle Mccaw with McCaw Property Management for your PM needs. Kyle and his team manage all my rentals. 

But if you want to meet or have a phone call to discuss insights I will be happy to share my insights as a fellow investor & Realtor. I have been working in the DFW area for many years. I am happy to share my experience so that new investors like yourself learn from my (and other investors) mistakes. They are a lot cheaper than learning on your own. 

@Dylan Villano I am Realtor & fellow investor that works with other investors buying and selling. One of the reasons for my success is that I am currently investing in the local market I work in. Also, have an active network of lenders, insurance carriers, contractors, home inspectors, and property management company that I recommend to my clients. In short, make sure that if you decide to work with a Realtor make sure 1. They are an active investor 2. Willing to share their contacts that have helped them succeed as an investor. Also, make sure the Realtor has +5 years experience. You are in rarefied air with an agent that has lasted this long on the business. The attrition rate is very high for Realtors nationwide. Hope this helps you in your REI journey.

@Penny Brown I am a fellow investor and Realtor working in Ft. Worth for +9 years as a realtor. And over two decades as a real estate investor. I love helping clients buy and sell in Ft. Worth regardless of their exit strategy. My contacts over of over two decades become my clients contacts. I am very good at helping first time investors or owner occupants. I look forward to connecting with you. @Kyle Mccaw thanks again for the recommendation. I greatly appreciate it. 

@David Pulido I sent you a direct message and would be happy to help you with your search. I am a fellow investor & realtor with +9 years experience helping other investors buy and sell here in the Dallas/Ft. Worth area. 

@Kyle Mccaw thanks so much for the recommendation. Look forward to doing a lot more deals with you as well. Good luck with closing on that great BRRR property too! Its great when we can do deals together. Greatly appreciate it.

@Branden Barber Welcome to why REI has a high barrier to entry. But don't get discouraged. I recommend you reach out to my recommended lender, Andrew Postell @Andrew Postell. He is a fellow investor and lender specializing in investment properties here in Texas. At lease have a conversation with him. He can discuss creative ways for you to save the monies for your next rental. I and many of my clients have been using him over the years. Hope this helps. 

@Or Uzi I am a fellow investor and realtor working in the Dallas/Ft. Worth area. I will be glad to help you on your REI journey. I have been an investor for nearly two decades. Also, a realtor working with other investors buying and selling for +9 years. Glad to help. Words are free.