All Forum Posts by: Jack Bobeck

Dallas is a large city. I’d recommend you start looking in 1-2 areas. Befriend a few Realtors. See if you can get a list of non-owner occupied homes based on zip codes. Then pick 3/2s and larger and send them postcards. Drive the neighborhoods looking for homes in rough shape. You will find some. Partner with experienced wholesalers on a few deals, learn the trade. Don’t give up.

Chris Carson my point in this “great” area is that as an investor you can find inexpensive properties for rentals. Is this area where you want to buy fix and flip, I’d recommend elsewhere. But for some “investors” it’s a great area, I know many who have “great” cash flow properties in the zip code. I would not invest there, I see more opportunity elsewhere, but some others do and it works for them.

The records at the county are always slow to respond. What does your closing documentation say? The seller and buyer both had to show proof of ID. Go back to the closing office, they should have gone through all of this with you at closing. 

You should be able to check the LLC at the state of Texas business website. It should show the owner of the LLC.

@Luke Mitchell I found my hard money guys at my local REIA. Always a good source. I do not know about national ones, but I figure they all pretty much operate the same way.

The first call to any attorney is always free. What harm is there to find out? 

I've taken on my city and been fined and seen the fines go away. The city is full of people that put their pants on the same way you do. They are not always right. I live in a historic district and the rules are sometimes ridiculous. 

The city is always being sued and fighting all kinds of lawsuits. Yours will not be the only one, but if you find the city is at fault, they should be held accountable. They will move on to the next issue. 

What are your goals? Do you want to own real estate or sell and roll around in cash? Become the banker for other deals?

Real Estate goes in cycles, no harm in selling now and holding cash, waiting for the next down turn, or becoming a bank for others to invest your money in properties and take 1st position. Lots of options when you have cash available. What about some homes for students in Tallahassee? Find some people looking to get out and see if you can take over their property now or get creative with financing. All depends on your goals. 

If you know you will need more than 100k for retirement, do you have the number you need? What are you going to do to get to that number? 

One more thing, if your goals are not large enough to scare you, you need new goals. 

Safeco will do an umbrella with your auto coverage. Most will ask for the auto business too, so be aware. 

I used to have FPIC for property insurance, but they were bought by Avatar and my rates jumped 40%. I have been very happy with American Integrity Insurance Co. Great rates for rental properties. 

32254 is a great area. The neighborhoods I am familiar with are Biltmore, Paxon, Commonwealth, West Jacksonville, Woodstock. I think you are thinking "Allendale" is Avondale which is in 32205, on the other side of I-10 and US 17. Let me know the address in a PM, I'll be happy to help. 

It depends on the terms of the loan from the private money lender. Will they allow the loan to be out there for a longer term period? Every private lender is different. 

If you work with them enough, they may give you more favorable terms. As you use and pay off the notes. 

Do you have a good RE attorney that has taken on the city? When you have to fight city hall, you want to have someone there with you.