dallas texas · Member since 2018 · 39 posts · 10 votes
Hi Guys,
I am about to move to Dallas and I d like to have your thoughts on where I should look for rental properties delivering positive cash flow and offering good opportunities for growth ...kinda asking for where to find a unicorn.
I am talking about the Dallas metro area not just Dallas proper
Investor · Dallas, TX · Member since 2016 · 84 posts · 33 votes
8y
Not Dallas or north Metroplex (Plano, Allen, Frisco, etc.). I would say look at south FW, where there might be some opportunities. I still have to find one that gets close to .8%, although I haven't been doing my own marketing for distressed properties. Having said that, I'm sure if you do the work you can find some, just not in the MLS or with regular agents.
Plano, TX · Member since 2018 · 12 posts · 3 votes
8y
I’m not sure if I’m being inappropriate. If this sounds completely idiotic, please forgive me. I’m a newbie renting in Plano about to buy our first primary residence in the Colony. I have no experience of owning a rental property who just got through reading The Rental Property Investing (my first Real Estate Investment book)...yes, I have long ways to go....
My real estate agents are telling me it’s great to be investing in Northern Dallas Area (e.g. Plano, Frisco, Allen, etc) due to the rise of the value of the homes ~5%/year, I understand the national average is somewhere around 3%. From what my real estate agent tells me, tenants aren’t too hard to find (the internet tells me vacancy rate is 15%).
Here, I think it is almost impossible to find that home for 20% under the value, and the return on investment per year is at best 4-6% here. Given all the growth I see around me, however, it’s really tempting to dive in and just invest. Yes, there are areas here where it is very easy to find tenants to rent.
Why is it so bad to invest here? It’s a good and safe area with good schools and big industries like Toyota, Pepsi, Liberty Mutual, etc. Is it really bad to just buy and hold in this area without much cash flow for a while?
And what do you mean by 0.8?