I am in the Houston area and getting interested in breaking into the residential real estate market. My initial target is single-family homes to either buy and flip or hold as rental properties. I have a partner on board who is a GC here in town. We may eventually get into the multi-family marketplace, but think it's best to start here. We would like to sit down with people on all sides of the discussion to discuss processes and best practices for finding deals, securing financing, performing rehabs and getting properties to market. Please let me know if you're in the residential market and willing to share some wisdom.

Thanks!

Hey maverick! I'm in Houston and have bought/held/flipped/financed/brokered single and mulitifamily deals including new construction.

Feel free to reach out. James@covestmentcapital.com

You wanna talk about being "red pilled"? You are about to set out on a fascinating and maddening journey! I've been studying for about 4 years, did my first deal in 2016 on a triplex here in San Antonio and I'm working to get my personal home remodeled to sell (AKA the live in flip) that will get us out of debt and allow us to get more buy and hold deals.

What books have you read?

We buy 30 to 40 single family houses a year. We flip, rent, and owner finance in DFW. If I can be of any assistance, please let me know!

Email sent. Thanks.

Thanks for the response! Do you have any reading suggestions? There's so many people out there with varied opinions (try this, try that, don't do this, don't do that), that it becomes noise at some point.

It's valuable to get some real world opinions from someone other than the "pitch man" types that you see online so often.

Thanks much for the reply, Copp. How did you get started? We'd love to get to that point where we're effectively purchasing and either flipping or renting properties on a consistent basis.

Rich Dad, Poor Dad and Cash Flow Quadrant are a must if you've not already read them. I agree it's a lot to digest and can be distracting, especially with podcast. You'll begin to learn what you want to listen to or read as you begin to form your strategy and goals.

I switch between books and podcast depending on my mood, we're (the wife and I read the same books at same time and discuss them) currently on Think and Grow Rich audio book. It's fantastic, can't believe I waited this long to read it.

Other Audio Books we've Listened to or read:

The E Myth revisited
Unbeatable Mind
The Millionaire Real Estate Investor
Crushing it in Apartments and Commercial Real Estate
The Rise of Superman
Stealing Fire
The Book on Managing Rental Properties
The Book on Rental Property Investing
Start With Why
My life and 1000 Houses
Never Split the Difference
How Champions Think
The Richest Man In Babylon
Man's Search for Meaning

Podcast I like:

Bigger Pockets
The Rich Dad Radio Hour - Kiyosaki is a TRIP
Best Real Estate Investing Advice Ever
The Science of Success
Cash Flow Connections
Daily Helping
Chasing Excellence (this is crossfit mostly, but AWESOME information and stoic philosophy!)
Real Estate News
The Profit First Podcast
Finding Mastery
Real Estate Investing for Cash Flow
The Real Estate Guys....

I have 15 others at least. I don't listen to them all every week. Some I skip all together if it doesn't interest me.


What I DON'T do is get to the meet ups. I know they are a large part of me growing my business, but I keep making excuses to not attend. The 1.5 years it took me to buy, renovate, rent and refinance my triplex was the last one. Now it's renovating my personal home so that we can take advantage of this market and sell. Long story short, this is a networking business and you HAVE to put yourself out there to be an investor. It's a team sport.

Lived lean, learned the business, read a lot, asked a lot of questions, and networked. There are circles of really successful investors in all areas. Get in with those circles that are doing it full time. They can introduce you to attorneys, bankers, title companies, etc

Best of luck!

I'm in the same boat as the OP. I'm in Longview and just purchased my first rental a month and a half ago. It's a SFH. I've made multiple offers on several more since then (including one tonight) and am just waiting for the next one to get accepted.

Copp, buy the house at 623 N Winnetka in Winnetka Heights/Bishop Arts area. I took it back after a defaulted 'transactional funding' loan. It's listed on MLS. Make an offer.

This one?

https://www.zillow.com/homedetails/623-N-Winnetka-Ave-Dallas-TX-75208/26712805_zpid/

Yes. I got a feeling I'll be taking a loss on it.

I typically don't like historic districts. They make it too hard to rehab houses

I sure hope some of you in here are getting squared away on your financing cause rates are a rising.

We are only now just beginning to feel the effects of the first couple of rate hikes. I've had a lot of value add MF deals die recently cause of rates. Just had one get traded at a 5.05% interest rate.