Investor · Orange County, CA · Member since 2015 · 125 posts · 29 votes
I'm currently looking at purchasing a property, preferably multi-family, in the DFW area. I'm an out-of-state investor and am looking for properties in the $500-600K range. My goals for my new purchase will be mainly long term growth, although some decent cash flow would be nice too. But again my priority is equity growth. What areas would you suggest that are safe, have solid job growth, good schools, hospitals, etc. Any up and coming areas to pay attention to? Essentially A or B areas with the potential for growth. Also, what are the paths of progress to look at? Many thanks!
Real Estate Agent · Miami, FL · Member since 2019 · 36 posts · 25 votes
5y
Hey Kal! it seems like a lot of people from California are migrating to Texas ever since covid happened. The Dallas Fort Worth metro area is a great market imo. No state income taxes, Population growth & a diverse economy. A lot of the big health care companies are headquartered there which is a plus. I'm going to be shooting you a dm! I have a friend who's a realtor over there.
Fort Worth, TX · Member since 2017 · 206 posts · 87 votes
5y
Really, I feel like in FW, you can't miss. If you're in close to downtown, you win, if you're further out, you'll be in the path of progress. What we've found is that closer in, more appreciation, quickly, but it's offset with high taxes. If you buy further out, fewer taxes, but the appreciation isn't as rapid.
Real Estate Agent · Miami, FL · Member since 2019 · 36 posts · 25 votes
5y
Hey Kal! it seems like a lot of people from California are migrating to Texas ever since covid happened. The Dallas Fort Worth metro area is a great market imo. No state income taxes, Population growth & a diverse economy. A lot of the big health care companies are headquartered there which is a plus. I'm going to be shooting you a dm! I have a friend who's a realtor over there.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
5y
The best way to make money is to buy in the path of progress. At least that’s what billionaire tech and real estate investor Ross Perot says. So I say draw a big circle around DFW area and look around that circle edge….and possibly outside it….so for example on the north side Justin and Ponder and as you move along the circle...Denton and Krum, Aubrey, Sanger, Pilot Point, Prosper, Melissa, Anna, Princeton, and north to Sherman and Denison and all the small towns in between there and McKinney. Generally you can also continue that circle around DFW. Billionaire sports icon, oil and gas, and real estate magnate Jerry Jones for example has bought as far south as Waxahachie. Personally I would suggest single story, single family, 3bed 2bath 2car garage homes built after 2005. Everyone has a different model though and I’ve seen lots of different strategies work.
Real Estate Agent · Keller, TX · Member since 2017 · 850 posts · 825 votes
5y
@Khaled Seirafi There are 20+ zip codes I love owning long term rentals in the DFW area. But will agree with @Bruce Lynn assessment that the outlying areas of the DFW market are growing fast and you can get into some great used or even new construction 3/2/2 for less than $300K. Some areas cash flow better than others in terms of rentals. You really need to review the numbers on a case-by-case basis.