All Forum Posts by: Steven J Mooney

I'm looking for a  Real Estate Agent that is an active Real Estate Investor.  I'm looking for Multifamily properties within an hour of North Dallas.  Any help would be greatly appreciated! 

My daughter is interested in house hacking and I would like to help her out.  What type of arrangements if I assisted on the down payment and light rehab?  What kind of partnership or ownership percentages should we consider?  She would manage the property and I want her to have skin in the game.  We don't have a property yet, just want to consider the best way make it a win-win for both of us.

Thanks in advance!

Thanks Will.  It will be my first 4 plex.  It is out of town and I've added all my numbers with management fee.  I'm under $100 a door, but sure I could get to $100 a door in 12 months and better as time goes on.  Fully rented, but no fix-up money built into the purchase numbers.  Just, hunting for that "thing" that pushing me over the fence.  Agreed bad deals are easy to come by and the next good one is just around the corner.

I've made 2 offers on a 4plex fully rented.  Seller has "declined" the offers which were 93% and 95% listed price.  Leads me to believe they are holding out for full price.  Numbers don't work at full price and current rents.  Numbers look better if the rents are closer to market.  I'm concerned that my equity will only be my down payment and to make my numbers I will need to increase the rents in the next 12 months.  The 4plexs are affordable in a good market, but these are just not slam dunks.  Any advice or creative options that would make this a win/win for both sides of the fence are welcome! 

"The Chard".  Interesting, why?

Welcome aboard to BP and Richardson! I've lived here for about 20 years and know the area. Property prices have risen a lot in the last 5 years. Not a lot comes up in Richardson off MLS. Great area for Buy and Hold if you can find dig up the deal. I'm new to BP and I'm also looking for a local meetup. Hunting for single and multifamily in the area. There are several REI groups in the area, but I have not attended yet. Sounds like we need to create an area BP Group.