All Forum Posts by: Philip Postel

Agreed with Andrew.  Unless you are leaning heavier on it being a primary residence, I would re-think the price point and area.  If you are looking for a rental, you should look at using the cash in hand as your down payment and look for a few rentals.  John Larson with AREI could sell you cash flowing investment properties around DFW in the 125K-175K range and Andrew could help you get them financed.  

We work closely with Rhodes surveying.  They handle the entire DFW area and are amazing.  

Depending on how many units in a particular complex you can acquire, I have a client that has turned Erik and William's problem around by buying up a handful of units and then eventually taking majority control of the complex.  It took them a few years in each of the two cases (so far) and took two different routes.  

1) They were then able to control the assessments and restrictions to protect their long term hold.

2) They actually started forcing assessments and other restrictions in a way to get the remaining owners to sell.  They then sold the complex as a whole to someone who wanted to tear it down and re-build a bigger property.  

We thought they were jerks in option 2 until they tripled their money and paid off the loan they had on the units in complex one and now have that property free and clear and have started the process again on another couple of complexes with the remaining proceeds of the sale.  

From the properties I have owned in that price range, the biggest challenge was what you said.  Quality of tenant and the maintenance.  However, I have done really well on cash flow.  If you find a good tenant (I have one in a house that has been leasing since 2004), it is easy money...

Have you found anyone yet?  I might have a few good contacts for you in each area.  

If you haven't found anyone yet, John Larson with American Real Estate Investments is your guy.  

American Real Estate Investments and Omni Key Realty are both great options.  I just sent you a PM with contact info for both.  

Hey @Kelly Kovar.  I own a title company based in DFW and we do a ton of work with wholesalers, flippers, buy and hold investors, etc...  Have a ton of contacts and resources in the area and would love to see how we can help you out.  

@Andrew Postell our names are too close not to be working together.  

Great event for investors in the DFW Area! Chuck puts on a great event and Cathy Crowe is a wealth of knowledge for DFW Real Estate Investing!  

William,

Carl Dean with American Real Estate Investments can not only point you in the right direction for management, but he can also get you turnkey, cash flowing properties.  I believe they refer most of their clients to OneProp, who I personally used in Dallas with my rental properties and had a great experience.  I have also used OmniKey Realty but I think they only manage properties in Dallas/Fort Worth currently.  

If you can tell me exactly what you are trying to get, I can see if I can point you in the right direction.  I don't know that I have seen actual surveys on the county website or anywhere in the public records.  If it is something a little different, our title plant might have access to it or help figure out some leads on tracking it down.  What county?

Philip