All Forum Posts by: Joe Funari

@Christopher Cole reach out to my preferred lender @Andrew Postell. He can provide conventional financing (or refinancing) without triggering a due on sale clause. I have done it many times using Andrew's services here in Texas. 

@Harry Ng Texas is a non disclosure state. So best way to get vacancy and rental data is having an experienced realtor that works with us investors run rent comp for you. Takes the guess work out of figuring out what the days on market is for a rental and the average monthly rents. All the third party sites have inaccurate date due to disclosure laws here in Texas. 

@Nicholas Otero Congrats on your soon ETS. I am a fellow veteran/investor/realtor working in the Dallas/Ft. Worth area. I take priority in helping fellow veterans purchase rental properties. I would first recommend you get with a VA approved lender that knows how to get the right VA approved loan for a mulitfamily property. If you decide on Texas I recommend you reach out to @Andrew Postell. Not only is he a fellow veteran but a fellow investor and has helped many clients buy multifamily using a VA loan product here in Texas. So reach out Andrew first and discuss what you qualify for. This will help you get off to the right start in your search. 

@Vu Trinh I am fellow investor and realtor working in the Dallas/F.t Worth area. My experience is that Garland is more of a LTR community than a STR.The main reason is people living within the Garland ISD boundaries can pick any school to attend. Thus, schools there get high ratings. Thus, popular for long term tenants. But since you are visiting family located there why not give a shot. But there are other communities in North Dallas County I would prefer over Garland for STR exit strategy. But they are also more expensive than Garland. Just reach out to me directly if you want to get more insights.

@Ross Barrera Consider Century 21 Mike Bowman. They are located in Grapevine and I have found them very accommodating to my investment activities as an investor/realtor. Plus, the training and mentoring is top notch. Reach out to @Ashley Maisano and let her know I referred you. She can go into more detail on on boarding. But once onboard I will be able to help you as well. Even in a part time capacity. 

@CJ Wilson Definitely get comps from an investor friendly realtor when considering new construction investment properties. Especially if your considering a non-disclosure state (such as Texas where I work and own rentals). Also, keep in mind most national builders do not allow investors to purchase. At least this has been my experience here in the Dallas/Ft. Worth area where I help fellow investors purchase. You want to purchase from a reputable builder that offers a 2/10 builder warranty. This is required by law in TX by all builders. But advantages of purchasing a new construction home is to ensure you secure such warrant to mitigate future repairs. Especially, foundation issues. But the 2/10 builder warranty covers structural issues for the first 10 years. This includes any foundation issues. I have successfully helped other investors purchase new construction here in the DFW area. Now is a good time to consider new construction. Builders are offering a lot of incentives for you to purchase. Here in the DFW area there are 3/2/2 new construction SFR's going for approximately $320K that will sell to investors. Hope this helps.

@Andrew C. I recommend @Mark Roland to quote you landlord policies in the state of Texas. He has been my primary insurance broker for many years. Safeco is good for your primary residence & auto policies when bundling. But not for landlord policies for multiple properties. Mark insures all my rentals here in TX. I strongly recommend you reach out to him. Please let him know I referred you. 

@Noah Brown I would recommend you work with a realtor that is a fellow investor too. That they they can help you find the property your looking for. Also, can give recommendations on lenders, insurance, and contractors to help you on your REI journey. I personally helped clients purchase multifamily properties in the DFW area. I would be happy to share my experiences with you too.

@David Travieso get your realtor to have the sellers provide both the current lease agreement even if they are month to month. But I would also recommend your realtor get the sellers to provide a residential estoppel certificate. This has to be signed by the tenant verifying the current rents they are paying. You should also ask your agent to get the tenant contact name(s) phone, and email. Put your realtor to work. Do not communicate with the owner until you close on the property. Also, find out what the security deposit was the tenant paid when they moved in. Have your realtor prepare an amendment to the contract to provide you with sellers concessions for this security deposit amount. This is much cleaner than trying to get the sellers to forward the deposit monies to you after closing. Also, less out of pocket expenses for you at closing. Hope this helps. 

@Tom Fidrych No such government "oversight" laws regarding rentals were passed at a state or local level here in Texas and the Dallas/Ft. Worth area. Texas continues to be one of the most landlord friendly states. Eviction rates continue to be low because of these laws too. In fact, recently I had jury duty. Had the opportunity to ask the judge if there were any backlogs in the Justice of the Peace Court that handles evictions. He said there were none. During COVID many states had large backlogs because they weren't even hearing cases virtually. But with Texas coming out of COVID lock down very early last year this hasn't been an issue as in other states.