All Forum Posts by: Matt Moreland

@Christoval Esquivel hope you've enjoyed living here in Lubbock these past couple years! The market here is exceptional, due in part to its lack of dependence on any single industry. The diversification of industries here among the healthcare, education, energy, technology, and finance sectors allows for a strong economy that grows steadily year-on-year and suffers minimal impact from market hits.

The potential to fix-and-flip is high here, as well as the opportunity to BRRRR. Certain neighborhoods are going to provide better returns than others, but it all comes down to your risk tolerance and timeline. If you'd ever like to chat in more detail, feel free to reach out and we can set up a phone call or grab a coffee! Best of luck and hope to cross paths with you soon.

Best,
-Matt Moreland

@William R. Matthews IV Hi, William! I’m an investor out here in Lubbock, and would be more than happy to have a conversation about the local market with you. Shoot me a direct message and we can set up a call here in the next few days! Best, Matt Moreland

@Vivian Hase welcome to BP and back to the REI community! We're in a great market for real estate investing here in Lubbock, and it's even better that you live here and can drive by in person and see properties if you want to.

If you ever have any questions or just want to chat about what's going on in our market, please reach out!

Best of luck and looking forward to seeing the impact you have on our wonderful community.

Welcome to BiggerPockets, Nabeel!! 

I actually moved from Dallas to Lubbock and am in both cities frequently, so hopefully we'll cross paths at some point! Sounds like you and your wife are in a great position to start investing. Feel free to reach out if you ever have any questions, this community is a phenomenal resource.

Best of luck!

Originally posted by @Shaz Sheikh:

Thanks a Lot @Matt Moreland, Appreciate the help its a perfect answer was looking for.... 

Q:1) any idea training in-classroom schools in DFW, good ones? 

Q:2)Secondly, can u also help me out to understand how to Get involved in to more Commercial Real estate side of the things as you said same license, but it covers mostly residential? what do i have to do after securing license to become a full-time Commercial real estate broker (Independant/working for a company either way) ?

Q1) I can't speak on behalf of any of the in-person facilities in DFW as I have not taken classes there, however, I'm sure a quick Google search will provide you with lots of reviews to comb through to help you come to a decision.

Q2) To get more involved in commercial, it's important to be actively learning about the commercial real estate market and to stay involved in your local community. Seek out opportunities to learn more whether it be through books or from speaking with/shadowing brokers in your area. After securing your license, you will need to work as a licensed real estate sales agent for at least 4 years (in Texas) before you can pursue your individual broker's license to work on your own. To work for a broker, you'll want to interview with several and figure out who you want to work for/wants you to work for them.

@Shaz Sheikh Yes, you will need a real estate license to perform the duties of a commercial real estate agent. It is the same license whether you decide to pursue commercial or residential, however, in the process of studying for the licensing exam it mostly covers residential material.

You will need to complete the minimum required hours necessary to take the licensing exam in Texas, which is 180 hours (6 courses that are 30 hours each). Plenty of great schools in the DFW metroplex that you can go to in order to meet the education requirements, as well as online schools such as realestateexpress.com and championsschool.com/real-estate/tx/qe/index.php. Once you have gotten your license and found a sponsoring broker, you will typically be required to join the local association of Realtors as well, which involves a few ethics classes, safety training, etc.

Hope this helps!

Originally posted by @Juhi Jain:

Thanks, Matt Moreland!  Looking into both. I think leaning more towards Foxridge due to it being a more established neighborhood. Would you know of a good property mgmt firm out there. TIA!

 @Juhi Jain I have personally seen what a good job Carrie Broadus and Kari Nettles at McDougal Companies do, and I have also heard good things about Minnix, Coldwell Banker Residential, and WestMark Leasing. All of the companies have similar systems in place for the most part, so it comes down to who has the best rates and who you get along with the best at the end of the day since they will be your main contact point.

Hi, Juhi, and welcome to BiggerPockets!

1) I would not say that one is better than the other, it just depends on what deals present themselves and which ones meet your investment criteria. Some SF rentals will inevitably cash flow more than a duplex and vice versa. As far as students vs. non-students, the student body at Texas Tech is growing quickly, in addition to the large quantity of businesses and families moving into town. If you're fine renting to either, then you're set either way. 

There is a decent supply of duplexes on the market, I agree. A lot of them are brand new construction and of high quality. Some of the duplexes in Bushland as well as over just outside of Foxridge are selling for high-200s low-300s and leasing for $1500-1650 per side. The builders are continuing as long as demand is there, which doesn't seem to be slowing down.

2) Either way, you're looking at more expensive properties and higher rents. Both are highly-desired school districts--Cooper being the well-known one with some older neighborhoods and Frenship being further out where more of the brand new homes are being built. 

3) I've actually been out to look at duplexes in both Foxridge and Bushland in the past few weeks, and they're selling and leasing fairly quickly. Can't go wrong either way, both are new construction and very well done. I'm a huge fan of the Artistry Homes builds, and it seems everyone else is too with how much traffic they're getting. In Frenship school district and just a quick jaunt away from anywhere one might need to go.

Good luck in your investing, and glad you're looking at Lubbock!

Best,
Matt

Hey, Greg! Welcome to BP and congrats on almost being done with school and making the decision to stick with real estate after you graduate. Sounds like you've got some solid goals with actionable steps thought out on how you'll achieve them.

Make sure to keep everyone updated on your progress, and feel free to reach out if you ever have any questions or need anything! Best of luck.

I'll PM you! @Steven Garcia