All Forum Posts by: Lauren Lockett

Quote from @Andy Webb:

The DFW area is huge with a ton of municipalities - can't really paint it with a broad brush.  Dallas city proper is probably what you are thinking about, thought other cities have their own programs/requirements/or have taken no action at all.

 Exactly! Andy's right. Everyone keeps quoting ban on Dallas, but it has specifications for where it applies and in what types of zones it is allowed. 

Quote from @Travis Andres:

I know I'm late to the dance, but just found out about the STR ban in the DFW area, but I still see a TON of listings on AirBnB…

Is anyone on here still doing STR in those areas? If so, is it just a gamble in hoping you don't get caught? Or are they not enforcing it?

Was about to pull the trigger on starting an STR there but now looks like we'll be settling for LTR with Pennie's of cash flow.

Hey! I don't currently invest in STRs here in the area, but you'll want to look into code and regulations offices here in the area or perhaps run it by your real estate attorney who can walk you through it the exact ban. The ban is for Dallas single family zones. You are still able to have STRs in multifamily zones and in other areas outside the metroplex. Check with that local office for STR regulations.

Quote from @Richard Foster:

I have never used this strategy on any properties I own, but am trying to learn as much as possible to see if it might make sense to incorporate this strategy throughout Oklahoma City.

With that said I’m trying to learn about people’s experience with it, good and bad, to see if this strategy makes sense for the Oklahoma City market. Has anyone used this strategy? If so, what were the results and what area/sub-market were the properties located? Any information would be greatly appreciated and very helpful.

Hey Richard! I haven't done anything in the city, but plan on investing in STRs. I'm in the process of researching and trying AirDNA Rentalizer can give you some insight if you have a specific address you are looking into. You just plug it in. Additionally, have you tried connecting with local investors at a meetup to see if any of them are currently in the STR market? Or you could try reaching out to OKC investors here on the BP platform! Hope this helps!

Quote from @Joe S.:

So for the last year or so, I have been thinking more about physical health. I’ll be 50 in less than a year.
Overall I do not personally know any active, long-term investors that actually smoke. Maybe they are there I just don’t know them. I do know quite a number of investors that drink. I personally quit drinking many years ago for faith based reasons not necessarily physical. Of course, it has more than likely had a positive physical impact.  There are topics on generational wealth, etc. etc. so people are definitely thinking about the future.  I feel like the folks that are getting a little older should think serious about it.
I recently started riding my bike around the block and a few times going bike riding with a friend. Very amateurish as far as skill level and endurance, but it is a start. I have not been getting donuts from the donut shop or drinking soda. I’m not preparing for a marathon or nothing like that but I’m starting to think more about health. 
I’m not starting  this post from a vanity stand point. We’re not talking about getting in shape so we can wear tight shirts and show off  our body. I’m talking about getting in better Health so we can enjoy life longer and be a blessing to society longer.

Anyone have any experience, encouragement, pointers, or comments?

 Incredible insights Joe! I've been trying to lose weight after having my 3rd baby 5 years ago and finally invested in a personal trainer. I think bigger than having a specific plan for exercise and diet, I enjoyed having the accountability of others on the same exact journey, similar to this Bigger Pockets community of investors. If a trainer isn't your vibe, I started with drinking a gallon of water a day, incrementally, and then eating a healthy lunch everyday. I think biking is an amazing way to go as well and I've enjoyed it as what I call my fun workout! Great topic and you got this! 

Hey @Farhan Anwar and welcome! 

Saw you were in the Dallas area and new to investing, same! Our goals are pretty similar so wishing you the very best on your journey. Would love to connect. 

Something I've learned from listening to the Bigger Pockets podcast and reading the forums is networking. I just went to my first meetup in Arlington last week. I think the group is called IMPACT, an Arlington REIA. There may be one in your area and I imagine they can tell you ALOT about your strategy and market as well! If I come across lenders or investors that align with your goals, I'll be sure to send them your way. Wishing you the best!

Quote from @Lucia Rushton:

@Lauren Lockett welcome and congratulations for making the commitment!

Even newbies have questions that add value to other newbies or even seasoned investors. That is how I have treated my new faith, with lots of questions and many people tell me it adds value to their lives.

Best wishes and reach out if you need anything or have questions.

 Thanks so much Lucia! I will absolutely begin doing that. I feel a little uneasy not knowing how to contribute but you're right. I'm hoping as I learn and implement I can share more too! I will definitely begin posting questions or whatever I've found helpful! How are things going your way and what are you looking to do in the metroplex? 

Quote from @Zach Edelman:

Welcome to BP! Unfortunate what recently occurred regarding STRs in DTX. 

Hey Zach! Absolutely unfortunate for the single family zones in Dallas, but I'm grateful for the opportunities we still have in multifamily zones and in specific areas outside the metroplex. It still presents great opportunities for STR investors if they are absolutely set on investing in and around the area. Are you investing in the Austin area or throughout Texas as well? 

Quote from @Justin Vogelgesang:

Hey @Lauren Lockett I think you'll find a lot of like-minded individuals in this community. You should definitely check out some of the meetups in DFW also! Those are great for networking and learning from some of the experienced real estate professionals. 

Side note: even newbies here have something valuable to bring to the table, so don't be shy to post or answer questions.

Hey Justin! I certainly will jump in where I can as a newbie. I jumped into my first meetup last week with IMPACT (I think it's an Arlington REIA I found on Google/Meetup) in Fort Worth last Thursday and it was great! Reading the forums and listening to the podcasts, I've heard that recurring theme to begin by connecting and networking with this community! My goal is to go to an event a week and make 3 new connections. Do you have any suggestions on DFW meetups that you find helpful?

Good morning! 

I work nights and everyday I say I'm going to try to wait to post during the day like a normal person. That could be in another 2 months so let's just get to it! :) 

Hey guys, my name is Lauren! My husband James and I live in Grand Prairie (a suburb of DFW,TX!) with our 2 sons- Cole and Canon. After following the Smarter Phases, I've locked down some goals/strategy and am now on the Market Phase of the process. My goal is to invest in a short term rental property in Texas, Oklahoma or Mississippi, but I'm honestly trying to figure out the market part by researching and really landing in on a spot to invest. I live in Texas currently, was born in Mississippi and grew up in Oklahoma. I've got some funds for a down payment and have realized with my income it'll be best to really study creative financing and learn more about strategic ways to leverage what I have. 

I first got interested in real estate right before having kids and ended up Airbnbing my place for a few years up until 2018 because I figured I'd need more income and options to invest for their future. I also want to travel and give more. I'm here now wanting to restart and get serious about real estate investing. 

I'm looking to create long-lasting relationships with go givers. (in real life, I've started reading a book a week on relationships and networking...because growth right?) 

Here's a question I have. How on earth do your provide value in this community when you're new?! 

WOW, lots of insights here. Thanks so much for the in-depth look into some things I hadn't thought of searching for a STR market.