Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago,
Looking to buy my first rental property! please help me think clearly.
Some background:
- I bought my primary residence in Frisco, TX in 2019 and then I moved to CA last year and rented out this property. So now I live in CA and manage my rental remotely.
My goal:
- I have 120K cash that I want to invest in real estate in DFW and looking for a good return in 5/10 years. I don't want to commit to add more money to the property on monthly basis that's why I am looking a positive (or a break even) cash flow.
- I am looking into invest into a property that doesn't require much repair/rehab before renting it out and Ideally looking to buy in a neghbiourhood with good schools and commutable to Dallas downtown.
The Problem:
I primarily looked properties in Frisco/McKinney/Celina/Anna/Mellisa/Princeton areas and so far based on my research, I couldn't find any property that matches with my criteria that can also generate positive cash flow with 20% of down payment. Is my expectation to find positive cash flow in Dallas area in today's market is unrealistic? if no, please help me what I am doing wrong and where/how to look?
Thank you!