All Forum Posts by: Joe Funari

@Yong Lai I would suggest you reach out to Finishing Touches remodeling. https://www.facebook.com/Finis... They have helped many of my clients over the years with rehabs. They are reliable, reasonably priced, and will definitely itemize your quotes. Let them know I referred you. 

@Mat Piche Let me know if you have any questions about investing in the Dallas/Ft. Worth area. @Andrew Postell thanks so much for the recommendation.

@Randall Re II Great post. Especially point #2. It is amazing when I pick up new clients that they are amazed with the amount of communication I provide to them. I was in a business development role in corporate America for +23 years before getting into REI. So I learned at an early age effective communication is key to getting the sale. It has helped me immensely in the realtor carrier too. I have at least 5 to 10 calls a week with potential REI clients. I can tell right away from the line of questions if they informed investors (i.e. on Bigger Pockets a lot!). A couple of things I would like to add when your looking for a realtor ask them how many transactions they typically do a year. According to the National Association of Realtors the national average is 12 transactions. https://www.nar.realtor/resear... A seasoned investor friendly agent will easily exceed this number. Plus, with the number of transactions I do a year I definitely have a pulse of how to effectively negotiate a contract to get it accepted by the other party. Case in point, helping a fellow investor last week close on a flip. Successfully negotiated $23K less then their asking to ensure my client improved their ROI once the rehab will be completed. Thus, ensuring their ROI for the next flip. Second point I always add is work with an agent that has +5 years experience. The attrition rate is extremely high after 18 months as a realtor. But equally as high after 5 years how many leave the industry. Your in rarefied air when working with a realtor that has +5 years experience.

@James Thomas I would suggest you start with a fellow investor that is also a realtor like myself. I gladly share appropriate contacts form lenders, insurance carriers that provide both builders risk & landlord policies, contractors, and even PM's for my out-of state clients for here in the Dallas/Ft. Worth area. My clients and I employ the BRRRR strategy all the time. So I suggest you take a closer look at your realtors on your team in the markets your exploring and look to one that is more experienced with helping clients buy and sell investment properties.

@Alaura Mannor Rentometer doesn't work well in non-disclosure states to include here in Texas. If a realtor isn't willing to run rent comps for a specific property then its time to find another to partner with. I always run sold and rent comps for my clients when considering purchasing a buy and hold property. Takes the guess work out of it. So if the state your considering is disclosure state then go for it. But remember statistical analysis 101: remove your outliers and go with the averages and you should be fine. Also, check local property management web sites to see active listings in the area your considering and take a look at the condition of the property and what it is leased for. That will help too. 

@Omar Lopez I am a fellow investor working in the Dallas/Ft. Worth area. Would be happy to meet with you and have a cup of coffee to discuss anything you want to know about investing here. Words are free. 

@Serena Du I have personally used Brandon Stephens with DFW ProSpecs LLC to perform all my home inspections, as well as, recommend him to all my fellow investor clients for many years now. Just let Brandon know I referred you. His inspection reports are very detailed. I sent a DM with his contact info.

@April Hamm I always recommend doing a walk through with my clients before submitting an offer. I have done many rehabs on both rentals and flips. I can easily spot issues. One that is easy to spot is if the water heater has a drain pan that actually drains to the exterior of the home. Another is GFCI outlets in all "wet" areas. These are code requirements that many older homes didn't require when they were built. And most often are items that inexperienced investors miss on flips. Make sure you do get the home inspection done. I work with a licensed home inspector that knows what to look for regardless of your exit strategy. He has been doing inspections for many years too. But if your looking for move in ready I recommend you work with a realtor that is a fellow investor like me. I have been helping other investors buy and sell throughout the DFW area. I will teach you what to look for too. Words are free. Hope this helps you in your search. 

@Johnnie Schneider My out-of-state clients gain access to my investor friendly contractors. They not only do great work but have done work for me for many years on my rentals and flips too. I will always go check their work too on behalf of my clients. So my recommended contractors have learned over the years my expectations and get the job right the first time. Its just one of the value add services I provide to my clients. So I recommend you first find an investor friendly realtor to work with. Their insight in their local market, local lenders, landlord insurance carriers, and of course contractors. Personally, I recommend realtors, like myself, that specialize in working with other out-of-state investors helping them with their investment acquisitions. no sense in reinventing the wheel trying to build your network on your own when other investors have already done it and are willing to share it with you. Hope this helps in your search for the right out of sate market. 

@Connor Heffler there was an article Bigger Pockets sent out 3 days ago titled "These 10 Markets Could Boom in 2023 - According to the NAR." I always pay attention to articles from the National Association of Realtors. Especially, when their chief Economist gives feedback. You can access the article here: https://www.biggerpockets.com/... But according to the article one of these growth areas is right here in the Dallas-Ft. Worth area. Texas is one of the most landlord friendly states as well. I personally own investment properties here in the DFW area. So you can't go wrong investing here. But recommend regardless of of where you invest find an investor friendly realtor to work with. My insights as a fellow investor has helped many other clients avoid pitfalls that many first time investors make mistakes. Hope this helps narrow your search.