Dallas-Fort Worth Real Estate Investor Club

New to DFW area

  • 13 Dec 2020 10:32 AM
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    Message # 9426424
    Randy Ng

    Hi Everyone,

    Nice to meet you. Wanted to do a quick intro on myself. Looking for networking and mentorship opportunities within the DFW area and to learn from all of you.

    My goal: Build portfolio of SFR doors in DFW area with a target of 15% COC ROI and long term hold. Ideally would keep the portfolio as passive as possible because I'm still working full-time. My stretch goal is 3 doors by end of 2021.

    About me:

    • I currently live and have a few doors in CA. Interested in Dallas because the market and area look awesome. Will potentially relocate here one day so I can eat delicious brisket daily :).
    • Will relocate to DFW for ~1 month in Feb 2021 to drive around and learn all the neighborhoods
    • Looking for deal finders, PMs, contractors, lenders, and handymen that are recommended
    • Have never done a BRRRR but would like to learn knowing that I'll stumble along the way. Turnkey is great too as long as ROI is there

    Thanks ahead of time and looking forward to network with you all.

    Best,

    Randy


    Last modified: 13 Dec 2020 10:33 AM | Randy Ng
  • 14 Dec 2020 10:26 AM
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    Reply # 9428731 on 9426424
    Neil Aggarwal
    Randy Ng wrote:

    Build portfolio of SFR doors in DFW area with a target of 15% COC ROI 

    Welcome to DFW Randy!

    Achieving 15% COC return is hard to do in this market.  Everyone is asking way high prices.  Deals are out there, but few and far between and there is a lot of competition. Keep your chin up and stick to your numbers.  Buy only when it's right.

      Neil Aggarwal
      Property Financing, LLC
  • 17 Dec 2020 8:37 AM
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    Reply # 9436593 on 9426424
    Randy Ng

    Thanks Neil, I'm seeing that is the case. What is a more realistic COC ROI? I'm seeing roughly 0-3% is a once in a few months opportunity if I factor in PM costs, turnover rates, and maintenance/capex for a turn key property. 
  • 18 Dec 2020 10:24 AM
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    Reply # 9438989 on 9436593
    Neil Aggarwal
    Randy Ng wrote:

    What is a more realistic COC ROI?

    I'm not seeing anything worth buying right now.
    I think that is going to change soon once all these eviction/foreclosure moratoria begin to expire.

      Neil Aggarwal
      Property Financing, LLC
  • 19 Dec 2020 8:16 PM
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    Reply # 9441472 on 9426424
    Robin Carriger (Administrator)

    Welcome to DFW REI Club, Randy!  Feel free to give me a call to chat about possibilities.

    Thanks,

    Robin Carriger
    President
    DFW REI Club
    (817) 300-1132
    Robin@DFWREIClub.com

  • 02 Jan 2021 11:00 AM
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    Reply # 9593588 on 9426424
    Rafiq Kamal

    Hey Randy, 


    It looks like our goals align nicely:

    • I plan on being in DFW this July to do driving for dollars and to get to know the areas. 
    • I am looking for one to four units for long term holds.
    • I want value add situations, especially adding an extra unit.
    • I am very interested in BRRRR

    I would love to speak with you more. Text me with a good time to call 404-933-1000
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