Investment Properties in Dallas TX

[Heather Keller]

Hi all,

I am new to the group :) Last year I bought my first investment property down in Daytona Beach FL. Although I am happy with my property, I learned a lot of lessons the hard way on this one! Looking to buy another investment property the right way by doing more research on HOA Fees, the neighborhood, taxes, schools etc. Wondering about the Dallas TX market, looking to spend 70,000 or less on purchase price due to down payment of the 20% I have available. I tend to lean towards condos just for the maintenance aspect of things since I do live in North Dakota. Any advice would be appreciated!

[Heather Keller]

@Curt Riffel

The condo we choose had a higher HOA fee, we were lead to believe it covered a lot more than it did. Also the condo association does not allow pets which turned away many of our renters that came from the north down south for the winter. It took us almost 8 months to get it rented. Part of that may have also been the management company which I should have done more research on as well. For instance, they don't do direct deposit, typically takes 20 days after the 1st of the month to get your check and they rarely answer phone calls or return messages. Another thing we hadn't thought about was having hurricane insurance as an added expense being so close to the beach. The nearest elementary school is also a ways away.