Trying to buy a fourplex in the DFW area

[Harith Hadi]

Hello every one

my name is Harith Hadi and I am just getting started here by trying to buy a fourplex around the DFW area and do a house hacking,  appreciate any piece of advice I could get here. 

[Account Closed]

I'm currently looking for a fourplex as well. I'm looking for off market properties and sending every fourplex owner a letter. I feel my odds are much better for a better deal this way, rather than off the MLS (Use Realtor or Zillow for free). I do check MLS as well daily. I guess I'll find out!

Taxes: Here's a link to the Dallas CAD (Central Appraisal District)
http://www.dallascad.org/SearchAddr.aspx

1) Type in the address of the property you would like to find the taxes on.
2) Then click the address hyperlink.
3) The estimated taxes will be at the bottom of the page. 

My opinion is to 100% forget about the price per square foot.....

Instead:
Find out what the rents are for those units (rent comps from an agent other than the selling agent) and work from that. The market is over inflated in North Texas. My personal opinion would be to work the numbers starting with the rent, factor in your expenses, and determine your operating expenses.  Find a sales price that makes sense to you submit an offer regardless of the asking price. 

If you're going FHA with 3.5% down, keep in mind you'll have PMI.

All the best,