Dallas investment tips

[Patrick W.]

Hello everyone, I’m new here and hope I’m writing in the right place.

I own a 2 br condo in Dallas that’s fully paid off and rented out for $1500, it’s a net positive return (10+%) and my goal is to invest in a few more until I can eventually buy a multi family, duplex, etc. 

I’m relocating from NYC to Dallas for work and since I got lucky on my first property I want to actually do my due diligence visiting neighborhoods, seeing properties in person (not FaceTime) before investing in another. 

My plan is to Airbnb for 3 months and take a mortgage on another condo with 10% down. I hear that’s a safer bet than doing a home mortgage equity line.

Question is should I ride it out and move into my already paid off condo when my tenant’s lease is up in Dec or strive to go forward and invest in a new property, live there a bit, then find another tenant and  replicate once I’ve saved for another down payment? Or should I be thinking bigger and using my existing property + loan to buy a multi family and house hack? 

I’m still new to the game but it’s getting real over here and welcome any tips or guidance anyone may have.

thank you

[River Sava]

Hey Patrick - I agree with Mo. If you are cash-flowing then I would not move in and look into house hacking. Happy to answer any specific questions on single/MF and STRs and MTRs as well so let me know!