I am open to investing in Arlington, Mansfield, Kennedale, Cedar HiIl, Grand Prairie, South Dallas and maybe some of the suburbs a little farther south like Midlothian.
I am looking for properties between 50-150k, especially turnkeys which I could hire management for and let it run. SFH and multi-family.
I am very open to B, C and even D neighborhoods if the numbers are right.
I am also open to properties needing some rehab again, if the numbers add up!
Thanks again, let me know if you have any suggestions, leads, etc!
Simon...great answers! Focused on the numbers. Congratulations!
With that in mind, I'd tell you to look at...
Central Arlington - Generally, south of I-30, west of 360, east of Green Oaks/Little Rd and north of I-20. There is also opportunity between Watson & Collins, south of I-20. The area from Division to I-20 (north & south) and 360 to Cooper (east & west) is just beginning to turn over. UTA, AT&T Stadium and the Globe Life Park, along with Six Flags, provides a lot of renter types in that area, and it's a solid C/B section. (You have the added benefit of that swath of land through the UTA campus is sandy loam - not our normal black clay - with very few foundation issues!) Avoid the old money part of Central Arlington just west of Arlington HS, Pantego & Dalworthington Gardens. I'm sure you know most of that, but I don't know how long you've actually lived here.
Grand Prairie - I would stay on the north side. The new development on the south side keeps prices higher. My advice is to stay north of I-20, preferably north of Marshall (That's Mitchell in Arlington.) Personally, I would also stay west of 8th street/Beltline Rd. Although, the "tree streets" far east GP, just south of I-30 are good options as well.
Duncanville and Lancaster are both strong for rentals in general. Cedar Hill is good, if you can find a good deal. It wasn't developed with a plan in mind, so you have really nice houses very near rental level properties, so it's hard to pinpoint a specific area.
Mansfield...I would stay central & north there...I like the area close to the Walnut exit from 287.
HEB - there's a lot of good area there. But, one of my new favorites there is the area south of the mall along Trinity Blvd. It's actually FWISD, but the values are generally good.
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
10y
Welcome to BP, @Simon Cox! Arlington is a great rental market, so you don't need to go far to start your search, though I wouldn't restrict it to Arlington.
I'm both a REALTOR and a wholesaler/investor, let me know if I can assist you in finding suitable rental properties.
Real Estate Agent · Arlington, TX · Member since 2015 · 57 posts · 23 votes
10y
Welcome Simon
I think you are in the perfect location for rentals right here in Arlington. You have plenty to choose from when it comes to low end or high end rentals. While away overeas take your time and do plenty of reading. I would suggest a book to you entitled "building wealth one house at a time" by John Schaub. Have a great time and we wish you the best!
Investor · Murphy, TX · Member since 2015 · 145 posts · 53 votes
10y
Welcome @Simon Cox to the Bigger Pockets community.
There is lots of useful information on this site. Look at the "Education" tab above for podcasts, guides, and webinars. You might also try setting up keyword searches on topics that interest you or areas where you might want to invest.
My focus is Collin County and northern Dallas County. There are a bunch of real estate investor groups in this area that might be beneficial to you from both the educational and networking perspectives. I routinely attend the North Texas Association of Real Estate Investors (www.ntarei.com) monthly meetings and take some of their classes. I understand that there is also a group in Arlington (Arlington Real Estate Association of Investors). This might be a little closer to home, but I do not know the quality of their program. In either case you will be able to meet local investors and vendors that can help you understand the local markets.
Rental Property Investor · Dallas, TX · Member since 2015 · 106 posts · 66 votes
10y
Simon Cox are you looking to purchase, renovate and tenant or buy turnkey and performing on day one? I can refer a great investment broker if you would like. He does a lot more auction and investment type of deals than the retail deals. Let me know if I can be of any further help, I have been purchasing heavy down here for myself for about 1 year now and have made some great connections.
Dallas, TX · Member since 2015 · 3 posts · 4 votes
10y
Hi Scott!
I really like Oakcliff for buy & hold. It's definitely a long term play but you can get decent properties in the Bishop Arts area for cheap, rent out to cover the mortgage and I truly believe in 5-10 years, you'll get a major premium. I always think it's good to follow retail and large multi-family developers. I worked for a guy who bought up a ton of property off Henderson Ave for $60-90K in the 1990s-early 2000's and that block has tear-down homes going for over $200K now.
Dallas, TX · Member since 2015 · 3 posts · 4 votes
10y
@Mark Creason I definitely think parts of Oak Cliff will be golden for development on the next RE cycle. It has to be the right area, of course. Millennial buyers are still a bit non-existent due to affordability gap and the tendency to rent, but when they have the money and start buying (5-10years) I think Oak Cliff will be one of the spots. Just try going to Hattie's on a Sunday afternoon. What do you think?
You live here, so you're aware of how large and diverse the Metroplex actually is. To give you any useful advice on where to start your search, you would need to be a little more specific on your criteria and parameters for your buy & hold investing.
Arlington offers some cash flow opportunities, as do Mansfield, Grand Prairie, HEB, Duncanville...you get the point.
What price point are you looking at? Are you OK with either B or C neighborhoods? Will you consider a rehab? If so, how extensive? Or, are you looking for more turnkey? The answers to all of these questions and more will determine what direction you should start your search.
I am open to investing in Arlington, Mansfield, Kennedale, Cedar HiIl, Grand Prairie, South Dallas and maybe some of the suburbs a little farther south like Midlothian.
I am looking for properties between 50-150k, especially turnkeys which I could hire management for and let it run. SFH and multi-family.
I am very open to B, C and even D neighborhoods if the numbers are right.
I am also open to properties needing some rehab again, if the numbers add up!
Thanks again, let me know if you have any suggestions, leads, etc!
I am open to investing in Arlington, Mansfield, Kennedale, Cedar HiIl, Grand Prairie, South Dallas and maybe some of the suburbs a little farther south like Midlothian.
I am looking for properties between 50-150k, especially turnkeys which I could hire management for and let it run. SFH and multi-family.
I am very open to B, C and even D neighborhoods if the numbers are right.
I am also open to properties needing some rehab again, if the numbers add up!
Thanks again, let me know if you have any suggestions, leads, etc!
Simon...great answers! Focused on the numbers. Congratulations!
With that in mind, I'd tell you to look at...
Central Arlington - Generally, south of I-30, west of 360, east of Green Oaks/Little Rd and north of I-20. There is also opportunity between Watson & Collins, south of I-20. The area from Division to I-20 (north & south) and 360 to Cooper (east & west) is just beginning to turn over. UTA, AT&T Stadium and the Globe Life Park, along with Six Flags, provides a lot of renter types in that area, and it's a solid C/B section. (You have the added benefit of that swath of land through the UTA campus is sandy loam - not our normal black clay - with very few foundation issues!) Avoid the old money part of Central Arlington just west of Arlington HS, Pantego & Dalworthington Gardens. I'm sure you know most of that, but I don't know how long you've actually lived here.
Grand Prairie - I would stay on the north side. The new development on the south side keeps prices higher. My advice is to stay north of I-20, preferably north of Marshall (That's Mitchell in Arlington.) Personally, I would also stay west of 8th street/Beltline Rd. Although, the "tree streets" far east GP, just south of I-30 are good options as well.
Duncanville and Lancaster are both strong for rentals in general. Cedar Hill is good, if you can find a good deal. It wasn't developed with a plan in mind, so you have really nice houses very near rental level properties, so it's hard to pinpoint a specific area.
Mansfield...I would stay central & north there...I like the area close to the Walnut exit from 287.
HEB - there's a lot of good area there. But, one of my new favorites there is the area south of the mall along Trinity Blvd. It's actually FWISD, but the values are generally good.
Welcome to BP, @Simon Cox! Arlington is a great rental market, so you don't need to go far to start your search, though I wouldn't restrict it to Arlington.
I'm both a REALTOR and a wholesaler/investor, let me know if I can assist you in finding suitable rental properties.
@Simon Cox,
@Chris S is right. Arlington is a fantastic market right now. I too am a REALTOR and a Certified Investor Agent Specialist. I personally met Chris at one of his properties this week which was in North Richland Hills. In the right neighborhoods over there you can actually get some great rental properties as well.
Another Investor Agent I work with has a lot of rental properties in Mesquite and they tend to go quick.
I personally prefer the Arlington?mansfield area myself, and know that the rental market tends to lean to quick renting if you follow the comps.
Rental Property Investor · Dearborn, MI · Member since 2015 · 177 posts · 48 votes
10y
@Sara Munoz Thanks for the response! I'm keeping my eyes open for the right deal, trying to be patient. :D Let me know if you something comes your way!
Wow what a wealth of information you just dumped in my lap! Thanks a lot. Knowing about those areas will give me some confidence as I'm searching for that first deal. Feel free to send anything my way if you're feeling generous or don't have the time to deal with!