All Forum Posts by: Stuart Chinworth

@Greg Dickerson Starting my own fund is actually something I was considering as well. Based on the information that @Tj Hines and @Kim Lisa Taylor presented, it sounds like talking with an attorney would be a good preliminary step. 

Hello all! 

I find myself in a similar situation to many real estate investors who evolve overtime and want to enter into larger deals. Naturally this has led me to the world of MF syndication. Knowing that each operating team member has a specific and unique skill set, I began to explore how I might be able to add value to someone's team. In my current role as a technical sales engineer, I enjoy working with people, building relationships and discussing a wide range of complex topics. To me, these skills seem very transferable to the capital raising side of syndication deals.

That being said, are there any operators that are looking to add a capital raiser to their team?

Thank you in advance for your response!

So far we have had two PM's in Lubbock. The first was Hawkize Management, long story but things got so bad that we were forced to file a complaint with TREC, stay far away from them. During that period we switched all of our properties over to Location Rentals and have been very happy. 

@Amber Saulsbury I am planning to reach out to my realtor and PM soon to see how the market has changed since we last spoke. My main question will focus around how the activity level is for current rental purchases and how they expect the rest of the year to go. I think this will have a big impact on the first quarter of next year as we head in to prime leasing time. 

I agree that the property taxes are making things tough. We are in the process of refinancing all of our properties to take advantage of the low interest rates, this should help a little. That being said, I am starting to explore Oklahoma opportunities as a hedge against high Texas property taxes. 

Best of luck and keep us posted on how your search is going!

@Harun Khalid, rent estimates are always tricky. Zillow, Realtor.com and Trulia should be able to provide a good general estimate. Best thing would be to go directly to the source though. And by that I mean, look at websites for property managers in the area to see what they have as advertised rents.  Better yet, call a few of the PM companies in town to get their opinion. They would likely be able to provide much more detailed insight on current market rents and areas. That would also give you an opportunity to begin vetting potential PM companies. 

Hey @Harun Khalid. 

Always good to see a fellow TTU Alumni looking to invest in Lubbock. 

I like the area around 50th & Indiana. My now wife and I rented a house near 49th & Flint for two years and liked the area. To get more specific on that area, I personally would run the numbers on anything between 34th to 50th and Indiana to Elgin. Currently on market, the range is anywhere from around $100k - $220k. 

That whole area would appeal to families, single folks as well as students. Let me know if you have any other questions. Best of luck!

@Brandon Holtzinger is your rental here in town? Let me know if you want to get together to talk real estate. Thank you!

Hey @Joe Funari, thanks for the reply! Please let me know next time you are down this way, we can grab coffee or lunch. If I am not on the road, I am working from the house. So my schedule is pretty flexible. 

Hey @Brad Battle. Welcome to BP! Between the podcasts, blogs and forums, there is a lot of information at your fingertips. We currently have three units (two SFR's & one four-plex) in Lubbock and know the area well. Feel free to reach out if you have any questions about the area. @Jordan Sutherland is also a local realtor in Lubbock and specializes in working with out of town investors. 

Good luck out there!

Hey y'all.  My wife and I moved to Granbury recently and I was wondering if there were any other investors in the area that might be interested in a meet-up sometime soon. 

Thank you!