All Forum Posts by: Sam Garner

Thanks for the responses peeps, very helpful. I do have a license hung with a broker, but he doesn't use the MLS much so I'm trying to do some due diligence on my own before I bother him with it.

Hey guys, 

I think this is a dumb question but I'm not sure. I've had my license for awhile now but never needed to worry about having my own MLS access. Which Dallas MLS should I be apart of? My understanding of how this work is in order to post to realtor.com and Zillow I need MLS access, so I need to be a part of one of these. Any help is appreciated!

Thanks, 

Thanks guys for the input! I work in loan origination for multi family, so I’m very comfortable with complex models. I think at the end of the day building my own model is ideal for all the reasons listed, but I do enjoy getting to explore other models for ideas. This is obviously for excel. 

Do you guys build your own models or have you guys had any luck downloading some? Either models are too complex, or they're overly simplified. I'm all for DIY but wanted to explore this first. 

Wonder if it's $595 so it doesn't have to be on a 1099...? 

Thanks guys for the responses. 

@Chad Benedict Do you find rentometer to be remotely reliable? My gut tells me it's about as reliable as sits like zillow? Not expecting a perfecting number from the site, but at least a good reference. 

Hey guys, first time investor, just running numbers on properties and trying to learn, found this one. Any input is appreciated. Am using (I think) pretty conservative numbers. 

SFH 3/2.5, 2 car garage, Built 2008. 2074 sq ft

Asking Price- $99,000

Purchase Price (20% discount)- $79,200 

ARV- $140,000 (going off comps and similar properties) Appraisal website says its market value is $131,900. Is this an accurate reflection for the ARV?

Rent- at 1% (realistic or conservative?) $1400

Loan- 95% of purchase price. Just using a generic 5% interest rate here. I feel this is probably low though and could throw off everything. I'd still need to get creative with financing, don't know if I could even do 5% down payment. And my understanding is I can't do an FHA loan because it's not owner occupied...?

Closing Cost- $1500 

Estimated Repair- $5000

Vac/Repairs/CapEx- 5/5/5

Income Increase/PropVal Increase/Expense Increase- 2/3/5 (Feel these are pretty conservative too) 

Cashflow is $109, but I think I used pretty conservative numbers across the board and might see that go up? Initial offer might even be lower to negotiate to the 79,200. 

School district is not very good, could be better....

Would love input. Def still learning so I'd love to know where I might have made a grave miscalculation. 

Hey everyone! I'm not necessarily a new member to BP, I've been here a year or so (haven't posted much) but I just moved back to Dallas after getting my Master's at University of Miami. I grew up in Rockwall so it's nice to be back home in the great state of TX.

I've spent the last 20 years doing music full time, but I'm now transitioning into RE. I spent the last year or so continually reading and learning about investing, just made no sense to invest in Miami since I was moving, and it's super expensive. I just got my Agent's License a couple of week ago, and am also actively pursuing a day job, i.e prop management, analysis, appraisals, etc... to help fund my investing. Haven't decided if I want to be an agent full time instead of doing the day job, but I'm contemplating it so I can learn the market better and be more involved and hands on with residential. I would love to end up in commercial brokerage one day, or be a full time investor. I'm young, still trying to figure out all the kinks. 

I'm very motivated and driven to get as involved as possible in the area. I've looked into the REIA, purchased a PRO membership here, and am actively reading the forums. I'm in search of a mentor and will hopefully be reaching out to people soon.

Thanks everyone!

Hey guys, I just recently passed the Texas Real Estate License test (whew), and moved back to the DFW area. At this point, I don't think residential is the direction I want to go, but I got the license to show dedication to help me acquire a RE related day job, and to help on the investing side when I start that (hoping soon). Is there a certain approach I should take in finding a sponsoring broker, knowing I'm really only part time and have no interest in doing it full time?