Hello Everyone ! I am new to rental investment and thinking about buying SFH around Dallas before summer of 2021. Can someone please through some light on which neighborhood I should target.
I'm glad to see you diving into real estate! A couple of things I always think about when seeking an investment property:
1. What's your strategy? I understand you're searching for a SFH but everything is dependent on your goal/strategy. Do you want to house hack? Airbnb? BRRRR? Are you looking to cash flow? Appreciation? Are you flexible in terms of your situation? (single/with a partner/family,etc.)
2. What type of neighborhood? A/B/C/D class? Do prefer to be near a school?
3. Budget? Is your budget in the $100k range? $200k? $300k? etc.
In my opinion, all neighborhoods have their place as an investment opportunity. It all depends on your experience and risk tolerance. Some areas I like to target are:
- North Dallas, includes Plano, Addision, Richardson, Frisco, McKinney, etc.
- East Dallas, includes Garland and Mesquite
- West Dallas, includes Irving and Arlington
- South Dallas, I tend to stray away from the south side of Dallas with the exception of properties near the Bishop Arts District.
Again, every neighborhood has its place.It all depends on what you're seeking and comfortable with.
I'm glad to see you diving into real estate! A couple of things I always think about when seeking an investment property:
1. What's your strategy? I understand you're searching for a SFH but everything is dependent on your goal/strategy. Do you want to house hack? Airbnb? BRRRR? Are you looking to cash flow? Appreciation? Are you flexible in terms of your situation? (single/with a partner/family,etc.)
2. What type of neighborhood? A/B/C/D class? Do prefer to be near a school?
3. Budget? Is your budget in the $100k range? $200k? $300k? etc.
In my opinion, all neighborhoods have their place as an investment opportunity. It all depends on your experience and risk tolerance. Some areas I like to target are:
- North Dallas, includes Plano, Addision, Richardson, Frisco, McKinney, etc.
- East Dallas, includes Garland and Mesquite
- West Dallas, includes Irving and Arlington
- South Dallas, I tend to stray away from the south side of Dallas with the exception of properties near the Bishop Arts District.
Again, every neighborhood has its place.It all depends on what you're seeking and comfortable with.
Dallas, TX · Member since 2019 · 10 posts · 6 votes
5y
Sounds like a plan! Most neighborhoods around the north side of Dallas are in the B+ range but finding a property under 200k might be a challenge unless you're willing to cut back on br/bath/sqft. The areas in west Dallas most definitely have properties at your price point but you'll need to do more research to find B neighborhoods. Best of luck on your journey!
Realtor · Dallas, TX · Member since 2020 · 146 posts · 148 votes
5y
@Sam Pat Don't forget about East Dallas. Garland and Mesquite are getting filled up with people. Houses over there are being flipped just as fast as in Dallas itself. Just giving you another option.
I agree with @Alex Grosvenor & @Justin Tsoi, at your price range there is probably more realistic opportunities in east Dallas. North Dallas has appreciated a lot in the last years so it would be pretty rare to find a SFH under 200k. If you consider townhomes or condos, then you can still find some properties, but that would bring in to question what your strategy is.
If you are looking for a hack, I have a condo that has 4 beds, 3 with private baths, that I will be looking to move when my son moves out. It is very close to UTD in the safest neighborhood. Since 2011 we have had over 17 students, interns and friends, occupy the condo.