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New Strategy – Don’t Compete..

June 14, 2015

I know I have not posted in a  few months.. We have been very busy lately. Val and I have both recently changed our day jobs.. Still at the same companies, but changed roles.  It takes additional time up-front in a new role to get to a steady state. (Guess it’s like the rehab on a new property to get it rent ready).  Anyhow we are at steady state now. We have both been paying down mortgages and hoarding cash as well. This has us both getting the itch to pick up another property so we have started prospecting some lately.

I must say this market in the Dallas area is amazing. Home values are really moving up. Properties are moving quickly and there are still lots of investors buying even as values continue to climb. We are REALLY glad we bought when we did. In the mean time, rents are still going up too – so we know we will be paying more as well.

I have put in a couple of bids lately and we were not even close on market listed properties. Even homes we find from wholesalers are selling to newbie landlords and flippers for way more than we would pay. The Spring/Summer season is tough as everyone is out there shopping.

Our new strategy is to not compete. How do you do this? You find the FSBOs or the sellers that want to sell that have not even put the sign in the yard yet. These are harder to find, but they are out there.

I will post a bit about some of the properties we have missed out on lately. I got some good feedback on those posts earlier.

FYI.. I hit 100k on my used 2008 Ford Fusion. I like that I hit the milestone while prospecting for a new property. Might go with a truck on my next vehicle.

fusion 100k miles

From → Landlord

  1. I always enjoy reading your blog. I am in the same situation currently my markets are on fire right now but I have great relationships with asset managers and realtors that come to me first before listing which is great. I reached 244,000 miles on my 1999 Toyota Camry yesterday and it’s rolling just fine.

    • Nice that you get the pre-looks.. I don’t buy enough properties to get this treatment. Good job on the Camry too.. I hear those are good cars. Thanks for the comment.

  2. Prices cannot go up forever, wages are not. Bide your time, save your money, make best use of a rental. Move close to your job, saving commute costs. Do not buy yard equipment that you do not need. Rent only the amount of space you need.

    Renting can be a lot cheaper than owning, if you understand that a rental is temporary. Even if you rent for 20 years, but only the space you need, where you need it.

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