Dallas Hom Search Advice

[Brandon Gurrell]

After moving to Dallas earlier this year with the intention of starting our real estate journey we’re stumped.

My fiancé and I have submitted 12 offers so far with no luck. We’ve been to countless showings, open houses and looked into off market properties but still can’t go under contract. We’re looking at this first property from an investment perspective and we’re not trying to pay thousands of dollars over asking.

We’ve taken a step back and we’re trying to go in with a renewed frame of mind.

Any advice as we continue our journey would be greatly appreciated!

[Jorge Gonzalez]

@Brandon Gurrell There's still opportunity out there, so the first step is to not lose hope! I've purchased all of my properties on the MLS with tons of competition, I'd suggest keeping a close eye on every new listing that meets your investment criteria and act quickly. I've submitted competitive offers even minutes of it going live on the mls and has been accepted. Even in this crazy market, you have to scout for properties listed under market value based on comparables, it's one of the ways I haven't paid over market value and still have been lucky to have some equity upon purchase.

I have a multifamily duplex under contract right next to white rock lake, but it did require going $40k over asking, but it will still get me my targeted 8-10% CoC. The 1% in the dfw area is almost nonexistent unless you go in the outskirts of the Dallas metro. There will be few opportunities for 1%. Best of luck on your search, and stay optimistic and keep on submitting offers.