Out of state investing in Dallas Tx

Real Estate Investor · Reston, VA · Member since 2016 · 27 posts · 6 votes

I am trying to buy a SFH in Dallas area and I am told that Frisco,Allen,Plano areas are hot and good for appreciation given all the new companies moving in and what not. I am also told that the housing market there was really hot for the last few years but it has cooled down a bit.

I am trying to fly there to check out some of the above mentioned areas and also will look at Valley Ranch, Keller and Fortworth area in general.

I am looking for a Buy and Hold property around 250k which can cashflow. Is this a good time and a place to buy in the above areas? Any help is highly appreciated. I will have a property manager in place so the rent should offset this cost as well.

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Victor Ayala

Residential Real Estate Broker · FRISCO, TX · Member since 2014 · 45 posts · 37 votes

Here's my $0.02 on that. "Frisco, Allen, Plano & Valley Ranch" are too expensive and taxes are too high to make the numbers work. Especially if you're looking for "turn-key" deals. Otherwise, you have look and find an off-market, deeply discounted deal that needs repairs in order to make it work. I agree that appreciation is "potentially" there because the area is exploding with growth.

The ONLY place that I can say the 1% rule on a turn key investment in the DFW area is attainable is in a new development (new construction homes) being built in the cities of Forney & Heartland TX. 30-40 mins away from Downtown Dallas. Let me know if you would like more information.

I would also be more than happy to show you around when you come to town. Just send me a message so we can exchange contact info.

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Victor Ayala
Residential Real Estate Broker · FRISCO, TX · Member since 2014 · 45 posts · 37 votes
8y
Here's my $0.02 on that. "Frisco, Allen, Plano & Valley Ranch" are too expensive and taxes are too high to make the numbers work. Especially if you're looking for "turn-key" deals. Otherwise, you have look and find an off-market, deeply discounted deal that needs repairs in order to make it work. I agree that appreciation is "potentially" there because the area is exploding with growth.
The ONLY place that I can say the 1% rule on a turn key investment in the DFW area is attainable is in a new development (new construction homes) being built in the cities of Forney & Heartland TX. 30-40 mins away from Downtown Dallas. Let me know if you would like more information.
I would also be more than happy to show you around when you come to town. Just send me a message so we can exchange contact info.
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Lane Kawaoka
Rental Property Investor · Honolulu, HAWAII (HI) · Member since 2011 · 4k+ posts · 2k+ votes
8y
Ron Smith might want to contact jay hartley
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Phil Dodd
Real Estate Agent · Keller, TX · Member since 2016 · 65 posts · 40 votes
8y
I just sold a flip in Plano in November. Its a tough market for a buy and hold. Good luck.
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Ryan Cox
Investor · Austin, TX · Member since 2015 · 263 posts · 186 votes
8y
@Ron Smith Be cognisant to the distance between these locations in the metroplex. Depending on the day of the week and time of day it could take an hour or more to get from Frisco to Fort Worth/Keller. Out of the towns that you mentioned, I would focus on Keller because of the good schools and affordability.
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Freedom Jonson
Real Estate Agent · Oklahoma City, OK · Member since 2016 · 19 posts · 2 votes
8y
@Ron Smith hey I’m an investor in the DFW area and I wholesale homes from sellers for cash offers to investors buying homes for rental portfolio in this market and here’s my observation on the topic
It is true Frisco Plano Allen have a great appreciation, was and is hot, also true that rents have been very strong too.
But investors are still buying properties out here below market value and renting these properties out on avg.1300-$2500 a month. They have great lists and marketing to do so. But again it is saturated
To buy out there in the 3 areas you are considering, I would ask myself in your situation am I looking to buy on the market and deal with that competition, and possibly pay slight more than comfortable or can I find a great agent or investor colleague, maybe a wholesaler whose has leads and or deals to help me find those great deals in the area but be patient.
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Eric Chang
Dallas, TX · Member since 2017 · 7 posts · 1 vote
8y
@Freedom Johnson I am interested to see what properties you have in the area.
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Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
8y
I would stick with Oklahoma & Kansas. Much better cash flow & low property taxes!
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Shawn AckermanPro Member
Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
8y
@Ron Smith there is a big o'l country out there man. Don't limit yourself to a few markets. Also anything you buy these days in a "hot" market will be at or close to the top. And you don't want to buy there as it's only one direction to go brother. Do your research and as others mentioned you may want to find a wholesaler you can get you a great under market deal or find a target seller demographic and mail or cold call until you strike gold my friend. All the best to you. Always remember to persist and you will WIN!!!
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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
8y
Anything will cash-flow with a cash purchase or large enough down payment. Frisco and Plano are the hot topic of the day. Positive cash-flow may be harder to get but they should do well for appreciation. I like Far North Fort Worth and Keller. The dollar will go farther and they have the same growth with companies moving to North Tarrant county. It just doesn't hit the news as much.
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