All Forum Posts by: Richard Helppie-Schmieder

@Raphael Yohannes Hey man and welcome back! Excited to see you taking some first steps. I see you're interested in 2-4 units and is that because of the cash-flow or some other reasoning? I have my personal opinions on duplexes I would love to share with you to maybe help broaden your search. Send me a PM and I would love to connect via Zoom or something and share some personal insights on this.

@Juan A. Ortiz Hey man! Something that my wife and I did 4 years ago when we were newly married was convert a room in our house to an airbnb. We were fortunate enough to have a home with two masters and didn't have to change the layout at all. We were grossing about $1,000/monthly with it. So, if you find a house with a separate MIL suite or something similar. It may be a good way to get your foot in the door. If you have flexibility on purchase price, you can find them pretty easily. 

Would love to connect you with a friend that helps people find these, as well as invite you to a local area meetup I host the first Saturday of every month in N. Dallas. Send me a PM and great to hear you're getting started in real estate.

@Zoya Sadiq Anwar Khan I hear this problem over and over again here in Dallas. Here are a couple of things I have done in the past that has helped.

1.) Find underlying value- I found a home that was marketed at 1800 sq ft and really had 2000 sq ft and even found a home with a back apartment in East Dallas to provide two rental income streams. These properties were overlooked by a lot of people which gave me the efforts to negotiate without much competition.

2.) Eliminate competition- On MLS you have a lot of competition, from a wholesaler you have a lot of competition, from a neighbor or friend referral you have no competition and can negotiate directly with the seller. I have done this multiple times and have always gotten at least a 6% discount.

3.) Faster closings- Unfortunately, when dealing with any bank, they want an appraisal and I think they are 20+ days out right now. If you know someone willing to take a risk on YOU, then private money would be a great route to go in order to use as a bridge loan to traditional financing. 

Hope this helps!

@Terrione Francis Hey man! Dallas is sweet and you're going to love it. What are you looking for as far as multi-family? Would love to help you make valuable connections with brokers I know here, but need to understand your plan of action and goals.

@Elexis Sims Glad you found BP. If you have any questions about the Dallas (or suburbs) market, please feel free to send me a message. I have been investing in this market for 10 years now and would love to help where I can. As for Ft. Worth, I don't know much! Excited to see you getting started on your real estate journey.

@Michael Healey If you would like, we have a DFW meetup the first Saturday of every month at Halcyon Coffee. PM me and will fill you in for the one on the 9th. I even have a recommendation for you to help find your first house hack whether a duplex or something else. He is an expert at creative ways to cash-flow properties. Talk to ya soon.

Hi @Uriah Rohrbacher Ill PM you.

Please reach out if you would like to network, share your expertise and learn a little from what others are doing. Tomorrow here in Dallas. Please send me a DM for info as space is limited with social distancing. Newbies welcome! Thanks!

@Peter Walther for the win.

Hey Nolan,

Shoot me a PM with your cell phone. A few of us on BP are getting together in Dallas on the 12th at 8am to share ideas, strategies and expertise.