Moving to Dallas-Fort Worth?

Question

Hello everyone! I've posted before asking which state is the best to invest in and so far I'm pretty set on Texas. The Dallas-Fort Worth area seems to have a nice variety of properties to invest in and housing seems to be relatively cheap too. If any investors from this area could tell me more about the market there I would really appreciate it!

Cal R. · Answer

It looks like you are still in college, I would suggest that you look for a summer internship in DFW. That will give you an opportunity to get to know the area (DFW is roughly 9,000 square miles) and experience some of our "nice" year round weather. I've been here for almost 30 years and this is the first time I've ever heard Texas weather described as nice, I think someone was messing with you.

Philip Hy · Answer

Keep in mind the foundation issue specific to Texas and Oklahoma. Soil is mostly clay which causes settling if foundations are not frequently watered. Foundation repair companies make a killing here.

Okeoma M. · Answer

I agree with @Shawn Thom and @Mark S. it's a great market to invest in but deals are hard to come by in the metroplex. Real estate market is really active so I'm sure that there are lots of investors, agents, property managers, etc. who would love to share the expertise with a young investor who is willing to hustle and add value. I'd definitely advise that you network and make connections before jumping in! Good luck.

Mark S. · Answer

Texas heat can be brutal, but in reality running from my air conditioned car to my air conditioned office or house makes it not that bad. It is a great market to invest in and there are tons of jobs for someone recently coming out of college. I moved to Texas two years ago and couldn't be happier I did. I agree with what @Shawn Thom said about moving a little out from Plano or McKinney to find deals. You might also look on the Northern fringes of the metroplex near places like Anna, Melissa, Van Alstyne and Sherman. There are still deals to be found out there but you need some local knowledge of the area. Let me know if I can help!

Michael Lee · Answer

Hello and welcome to BP! I am from and raised in Dallas Texas. It is too hot and too cold. I have lived in and around Dallas and I think it gets too hot and too cold. Back to the real story. DFW area is a great place to be in but your niche might fit. Do not try to do everything yourself. Just be patient and be ready for a bunch of competition. Just be patient and consistent. Find an experienced Team that is trustworthy and who takes care of you and your needs. One of the best things you can be in real estate that does not have a bunch of competition here is to be a lender to renters who will pay you but failed a FHA loan request. Always do the numbers of your projects and try to look at them before you make an offer. Have a pre-approval letter from a lender. It will make you more competitive typically. This is a good area to be in. I am 59 years old and I have not decided what to do. I went to college and I have a business degree that emphasized real estate. In that same year, in 1980, I got a broker license. I did a few deals for other. My father has been in real estate for about 40 years and he has taught me a little bit. If you think that I can help you please contact me through BP at any time. Good luck!

Shawn Thom · Answer

DFW is a hot market which is hard to jump into unless you know people. Deals currently are not easy to find. If you work hard, network, be creative and get lucky you can do ok. I do it on the side and stay busy but I have to drive to where the deal is.... arlington, carrollton, seagoville, dallas......

Andrew Herrig · Answer

@Ben Thomas As long as you consider 5 months a year of 100+ degree weather "nice", Texas is a great place. My wife moved from Illinois to Texas and she loved the heat for 2 or 3 years, but she's over it ever since...

Matthew Vitlin · Answer

My mother loves Texas weather, but she is always cold so the summer is when she just basks in the heat, and hibernates when Texas gets "cold." She also lived in Boston for a few years and I spent a year and a half in Montreal so Texas has never really hit "cold" for us.As far real estate concerns, DFW is a strong market. I work for an acquisitions firm and I've lost track of how many offices we have opened in that area (I think it's 5 at this point). There are lots of properties to be had for a fairly low entry point, definitely a good market for some looking to get started with investments.

Ben Thomas · Answer

I would like to move south in general but like I said Texas seems to be the most investor/business friendly state that I would be interested in moving to. Also the weather there is nice almost year round.