All Forum Posts by: Joe Butcher

Come to Dallas. The RE market is insane here right now. Plus I have a jam room with cool vintage gear (drums, bass, guitar, etc) and I know you play.

I'll buy you a BBQ dinner and show you my awesome rent house.

You may have overestimated the roof. I got a 1200 sq/ft house done for about 3K

Kitchen seems underestimated, but I don't know what the finish outs in that area are like.

Did you consider holding costs, closing costs? 

Did you base your ARV on actual sold comps in the area.

Those are a few things you may want to consider.

Good luck!

@Carrie Cathey glad you found it useful!

Yep. 

Thats fairly normal here in Texas. 

I love bad foundations.....great negotiating point.

Hard money can be great! But....what are the details of the loan? Interest? Points? Time frame? 

Is this a fix and flip? Rehab for a rental that will be refi'd into a conventional?

You tend to get better answers here when you give a lot of details, I'm sure others will chime in once you do.

You don't. Those are people you meet over time through networking.

REIA groups are a good start.

 Can I "like" this twice? 

This is the funniest thread I've ever read on BP. I went to unclog my tenants toilet about a month ago. When I knocked on the door I heard all this scrambling around. When I went inside it smelled like weed and there were rolling papers on the table. 

I was like "y'all didn't invite me??"

DFW is extremely low on inventory and very competitive right now. Properties on the MLS are going for higher than the asking price in many cases. I've bid on a few in the past couple of months and was always outbid by someone willing to pay way too much for a rental. If I were you I would be looking at alternate means of acquisition, and also looking at the Mid-Cities (between Dallas and Ft Worth.....Irving, Arlington, etc)

You are welcome to hit me up when you get here if you want to go to a REIA meeting and maybe talk to some of the other investors in the area.