All Forum Posts by: Stuart Chinworth

Always exciting @Michael Patoc, congratulations. Lubbock is a great market to invest in. Keep us updated on your progress. 

@Jose Garcia we have been very happy with DFW Insurance Services. I'll PM you some contact info. Best of luck!

@Kyle Mccaw is right, the lender will always protect themselves. A track record helps but if you have the contractor connections, understand the refi process and have a good deal, I would guess most lenders would be willing to consider working with you.

@Kelvin J. I sent you a message before noticing your post but this gives good insight into where you are in your investing journey as well as the properties you are looking for. While I did grow up in Fort Worth and have a good knowledge of the area, I am currently living in Granbury. From what I have seen, there is a bit of rental shortage here. I am still seeing opportunities for investors to add to their portfolio and take advantage of the reduced supply to secure top rent rates. Hopefully this is helpful info and if you want to talk further, just let me know. Thank you!

Hey @Levi Kirkland! Fellow investor from Granbury here. Currently all of our investments are in Lubbock but we are looking for some investment opportunities closer to home also. 

@Stephanie Cessna & @Brandon Holtzinger always exciting to see more Granbury folks interested in REI.

Finding motivated sellers is going to be the key in my opinion. The area, or areas, you are looking could dictate how you find and contact these people. If you are staying very local, you might be able to use a very targeted "driving for dollars" strategy or utilizing tax delinquent lists from Hood Co. If covering a larger area, a wider reaching mail campaign might be better to consider. 

If you need any local data/ info, my wife is licensed and can help out if needed. 

Keep us posted!

@Will Allison, I have reached out to Tray Payne at PPT in Lubbock a few times over the years and he and his firm have been very prompt and helpful. 

I would estimate your management fee at 10%. The $450 doesn't seem too far off from what I am seeing on the CAD website. 

That being said, just based on the purchase price and estimated rent alone, the opportunity seems too tight for me. I know there are a ton of duplexes in town and I assume people are making money on them, but based on the properties we have purchased, single family and 4+ units seem to bring the best return. 

Good post, always fun to discuss the numbers!

@Surendran Palanimuthu

Hey @Robert Hicks. Welcome.

Not sure what is driving your timeline but I would be looking to purchase a home sometime in early spring. That usually gives me plenty of time to complete make ready items before the prime leasing months in Lubbock.

Let me know if you have any other questions.

I agree with @Cassi Justiz. When we orgionally started investing in Lubbock, it was with the intent of renting to college students. I will take anyone who meets the criteria and can pay. 

Also, she is spot on about @Jordan Sutherland. He would be a great local resource and already works with a lot of out of town investors.