All Forum Posts by: Preston Dean

@Account Closed

I must say your post is confusing

you are entering in the DFW market but you want to find wholesalers in Indy?

What up @Zachary Thompson

Im here in Fort Worth. Feel free to call or text anytime man!

@Andrew Postell

Hi @Charlie Krzysiak

I wouldn't suggest a condo. Most of them have HOA's that run pretty high. There are some nice single family homes in the 230-250 range in the DFW area that you can get with 3% down and then fix up and rent out after a year.

If you have the desire and ability I wouldn't wait around for another year when you get here. 

Buy something then the following year rent that out and then buy something else. 

6% interest is better that 100% interest in rent in my opinion. 

Here to help!

@Account Closed

I gotcha, all the extra info definitely helped. 

Then yeah man. I would say that sounds like a solid plan to me 

 Exactly what I said too 

Hi @Account Closed

I would say never, or at least not for a very long time. $2,000 isn't enough to even invest with (in my opinion). We had a rental in FW & we kept a separate account for Cap X repairs and thankfully we did. We replaced the oven after about 5 months and it just came from that separate account.

Also, forgive me if you are already doing this but make sure to keep your tenants SD in a completely separate account from your personal checking account. If not its considered commingling. 

Do you have a title company working with this deal?

Usually EMD is submitted with a title company that way you are not physically handling cash

@Luis Herna

@Jamie Hora

Congrats! This seems like a very difficult process. Nice work! 

Hi @Chinelo Ononye

Welcome to Bigger Pockets and welcome to Dallas, Texas soon!

As you venture to try and find what cities/areas to buy in might I suggest this resource

https://www.areavibes.com/

This is a great website to get an over view/starting point for what the neighborhoods are like. 

Here is a rating/classification system that I have come up with over time based on the overall Livability score

80 and above A+
78/79 A
76/77 A-
74/75 B+
72/73 B
70/71 B-
68/69 C+
66/67 C
64/65 C-
60/63 D
59 and below F

Cheers and let me know if I can help in the future!