All Forum Posts by: Mark Allen

I'd recommend finding a good wholesaler when starting out flipping. Wholesaling is an art where you must be good at marketing, negotiating, contracts, repairs, etc. A good wholesaler can take out the brunt of the work and allow you to strictly manage your rehab projects. Best of luck!

I had two leaks under the slab in the same vicinity and it cost me ~$3k to repair. This home was in The Colony - if your home is north of Dallas, I recommend Leo of Harvey West Plumbing.

Todd Dotson please add me to your buyers list if you have any fix/flip opps between Dallas and HEB area.

If you're wanting to exercise a brrrr strategy, I recommend you find the right neighborhoods and mail them every month... You'll be coming out of pocket for BRRR when using wholesalers in DFW because most are pushing 80% of ARV.

@Karen Morgan sorry, $125k, not $225k... I'm used to my Dallas prices :)

I have two homes in Killeen still and a seller found my phone from a rental listing wanting to sell their home fast. Would you consider this a good deal in Killeen/Belton/Temple/Harker Heights/Copperas Cove area?

1995 build, 3/2 with a loft (could be a 4th bedroom)

ARV is $225k - South of stan schleuter in newer developments.

Rents for $1000-1100

Repair for rent - $4k

Repair for flip - $15k

Purchase price $75,000

Which exit strategy would you exercise and why - Wholesale, Rent, Fix/Flip?

I started buying rentals at the age of 23 in 2009. I've bought, sold and held properties since this time, but I've never put anything over $20k into a home. I just placed a home in Dallas under contract for $240k, budgeted for $100k, and plan to list it for $430k. The comps that are $430k-$450k have high-end finishes and are beautiful. I look forward to adding my own personal touch to this home and keeping everyone up-to-date!

I've also just started the Kaplan courses to get my Real Estate license AND I have a full-time job in software sales - SO, I plan for this to be the first home that I list myself. It's tenant occupied until June 1st, so I plan to have it off my hands NLT August. I'll be sure to post before and after pictures in the deal diaries once it's completed.

I'm only holding properties if I can find at steep discount and take Sub2. Interested in hearing about other's strategies/thoughts of why you would buy/hold at the top of a market cycle. I buy/hold on the down cycle and turn to paper when I think a market is high. All of my rentals were purchased in 2009-2011.

Land development is much more complex than finding land and building on it. I've got a 88-unit tow home project in Orlando I'm working through now, but have partnered with two guys who have quite a bit of experience in both horizontal and vertical dev. Big projects take 2+ years and a lot can happen in a market cycle at that time. New build is a great strategy in a low supply, high demand market - Start small and partner with someone with experience.

Patrick Bergman I know of a good wholesaler in the Dallas area who has a big buyer south of Dallas. They could probably partner with you and sell this package real fast. They currently wholesale about 10 props a month. Message me if you want me to connect you. I personally think partnerships are great for a first deal or unique deal to both make money and learn.