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Updated almost 6 years ago, 02/07/2019
recession proof rentals in DFW
Still a newbie and try to cheery pick first rental. On this journey for almost 6 months, been through few properties and made an offer on one which didn't work out. Meanwhile, trying to learn and network as much as I can and learn from other experiences and overcoming loopholes.
Just a background, currently working in tech and have a family of 3 including wife and kids. For now, it's just me working and been through layoffs in the past (which are pretty normal in tech these days) which pushed me to find something stable source of income and later exit from the day job.
Since the economy is getting slower and the expecting a downturn by the end of this year or maybe next. Now my question to the veteran investors is what strategies(targeting area/zip code) should someone follow to get less hit while recessions. Considering ppl out of job, how to expect rental property generating cash flow or even paying off its own expenses.
would like to know how pros minimize their risk and key aspects to consider while buying rentals/multifamily, which can still be on the market and at least taking care of its own in the bad economy.
Forgot to mention that I'm in DFW area and will appreciate if someone can share their analysis/thoughts on the pockets which are less prone to recession.
Thanks in advance.