Best Place to Invest in DFW Texas Area?

[Andrew Threet]

I'm looking to buy my first multifamily investment property in the DFW Texas area within the next 3 months, any suggestions or insights on what areas I might have the best opportunity to find a CoC of anywhere between 8-12%?

I'm looking to buy anywhere between 150k-350k.

From the research I've done so far I know North of the Dallas area are where the better neighborhoods and appreciating areas might be. However multifamily listings are harder to come by in these areas. And I've seen a good majority of listings for multifamily come up more West of Dallas in the Forth Worth and Arlington area, that could even fit my numbers a bit better.

However I'm not too familiar with the market. Could anyone provide any insight on what the Forth Worth market is looking like? Is this an area on the rise for Texas. Or would it make more sense to be more patient and wait for a deal to come up in the North Dallas area? Or is there another area of DFW entirely that I should be looking at instead?

Any insight would be greatly appreciated!

[Michael Myers]

@Andrew Threet, I'm also looking to purchase in the DFW area in the next few months. The market is definitely hot, and small multifamily is even hotter. That being said a duplex in need of a cosmetic rehab did just come across my radar that looks reasonable at ~$200k purchase and a 10-15% CoC ROI from our underwriting, so it is possible.

The areas we are focusing on are Southwest FW between highway 30 and 35W, as well as Central/West Arlington and south out to Kennedale/Mansfield.

Best of luck!