New and want to invest in Dallas

[Cathie Cheung]

Hello,

I am new in Dallas and looking to buy investment properties for rental but have no idea which area to look for.  Someone told me 75068 and 76227 are good rental areas. Is there any of you a section 8 landlord and care for sharing  your experience? How can you tell which area is class A, B, C....in Dallas?

I had a bad experience for my first investment which the rent payment was not enough to pay for the mortgage and the association fee. I DO NOT want to make the same mistake again. 

Advice please...... Thank you

[Kenneth McKeown]

@Cathie Cheung it starts with networking. Getting a team set up that you trust and rely on when you're investing your money. I started off with my own knowledge in investing and built a team here where I have a trusted lender(s), contractor(s), realtors and much more that when I do get offered a property I know exactly if it's a deal I want to pursue or not. 

In regards to A,B,C neighborhoods - obviously someone who lives here would have a general knowledge (hopefully) of the areas. The two zip codes you listed are decent areas that still have room for growth (especially 76227) in terms of it's surrounding counter parts - were you particularly interested in investing in these two zip codes? Most of DFW has great potential for renting.

Also - you should of been aware prior to closing what your numbers were (mortgage versus rent) before you bought it right? Were you pushed into a property? Was it all cash? There's just a lot of due diligence that comes into buying a property - that it's unfortunate it didn't work out the first time. However - that's not to say it has to be like that every time, and it shouldn't!