All Forum Posts by: Vernon Watts

Hi Courtney

No problem, If I find a SFR I'll be sure to let you know.Happy Hunting. Vernon

Hi Courtney

I don't know how many unit's that interest you. but I have a Duplex 4 bd, 4 bath, asking $435k very motivated seller in North Dallas,TX 75214. light rehab.contact me for more info if it fit your 1% rule. 

Hi Jace

You can ask me anything at anytime you need answers. The answer is yes I do assignment contracts with my clients. At that point, I take pictures of the property and post them on craigslist,connect investors and of course Bigger Pockets. I put my signs in the yard and wait for customers to call and give their offers.  

My out of pocket expenses are (sometimes $0-$1000 for good ARV contracts) business cards, for sale signs,copies of contracts, skip tracing online services (MemberReportsOnline.com) and that's about it. low cost, don't ever pay money down on a property unless you're at the city auction.

Hi Jace

You're in the right place, just be patient and others from the BP family will offer some help with the questions that you have presented. I'll give you a starting point from a wholesalers stand point. Before the pandemic hit, I drove for dollars. I looked for homes in zip codes similar to the price range you're seeking now. When I found homes with For Sale signs in the yard or in the properties windows.

I called the number on the for sale sign, of the properties I wrote down that interest me and started to dialog with the owners or whom ever were representing them, and placed the ones I could under contract for sale. That's how I got started finding and selling property, and later I searched for property on sites like this, while building my Buyers, agents, rehabbers, and investors list from those who I came in contact with in person and over phone calls for offers on the house I put up for sale. 

The others will chime in soon and give you their starting point as well.

Happy Hunting, Vernon   

Hi Hail from Detroit 

Welcome to the BP family. Happy Hunting

Great outcome and percentage on a dollar. Correct me if I'm wrong. So, you got your $450,000 cash investment back, and walked away to your next deal with plus $370,000. 

Contact me if you want to purchase a buy and hold Duplex for your portfolio. It's located in North Dallas middle class neighborhood though, which means high end cost. It's  hard to find duplexes in Dallas in good standing, light rehab.

Happy Hunting, Vernon 

Hi BP Family

I love the responses you get on BP, there're so insightful and intelligent. 

Wes,Lucia, Ryan are dead on point with there assessment on BRRRR and HH I'm not in expert on any of these. But it's great to have experts here to feed you when you get hungry for knowledge that you seek. I do however have a Duplex the you can consider, and I think it fits what you're seeking, as you get situated here in Dallas. It is hard to find multifamily homes as you have heard.

  It's a off market property venture, lest than two weeks available. Contact me for more info on this property. I think if nothing else it will solve you first quest, owning a duplex, living in it and, renting out the other unit.  

Happy Hunting, Vernon   

Hi Jamie

Jon, Johnny, and Lucia are totally on point about the DFW market

I'm not as astute as they are, but I'm out here everyday making deals, some fall through, and others are signed sealed and delivered. But, I notice that in the DFW market property owners here are pretty knowledgeable about their property value and market fluctuations. For me, it's not that the market is saturated,you can find great deals here, it's more like I run into what I call "HARD SALES" a lot. 

I find most investors, agents, brokers and especially wholesalers give up on stubborn,hold my ground home owners that wont budge off the above market value asking price they set, leaving little room to make money off a deal. So, they just sit there on "For Sale" properties.  I shop all of DFW, High and Low end properties which taught me to help Hard Sale owners with other problems that they may have, forcing them to be stuck on above market value with their property. There's many deals to be had in the DFW market, Many.  

Welcome to the BP family, You'll find many here, on this site that will help you see your way clear. Just visit the forum, check out the discussions that fits what questions you may have. Keep checking the posted homes on this sight and others and you'll be on your way to finding deals that fits your criteria. Don't worry, you'll do just fine. Happy Hunting.