Homes in Frisco, Dallas

[Kranthi Kalagara]

Hello All

I am a newbie investor from Chicago having bought my first property in Chicago Dec 2015 and trying to work on my second one now. I will be making a move down to Dallas in Summer 2016 and started looking for homes in the Frisco ISD area (schools with rating of 8 are above is the top priority).

I have been to Dallas in December and looked around and understand that the market is sizzling hot. Now that I have my investor cap on I cannot make myself pay the over inflated prices (at least I do not think they are justified).

I am looking for options to buy distressed homes or homes that need to be spruced up, auctions, pre foreclosures, REO's ...etc and move in with some built in equity. The plan is to ideally sell the home (SFR, Dulplex) in 2 years or so and move into a home that we eventually want to settle down in, worst case rent it out with a good positive cash flow.

I have talked to a couple of realtors and they told me flat out that it was not realistic in this market. I was hoping to find someone here more with a investment mindset that I can potentially work / partner with to make my goals a reality.

Anyone? Please feel free to PM me.

Regards

Kranthi

[Naveen Desai]

@Kranthi Kalagara, 

  Welcome to BP and welcome to RE investing :). As exciting as it is, you are diving right into the HOT market.  Not sure how much have you researched properties and the price cycles in RE. 

But for now, in DFW region, with right analysis and if you get lucky to find property- there is still some scope left.

However for the Multi-Family investing, the place where you are - Chicago is prime time to invest. It is starting to trend up. So even before moving out of the area, look and see what best you can get your hands on locally.  My 2 cents. 

Good luck. 

Naveen.