Help with 1st investment property in DFW area

[Karen Oduwole]

Hello,

I am newbie in the Real Estate Market & looking to start out in real estate with rental property around dfw area but have been unable to find properties within our scope.

We want a rental property that's not too far from our home in Keller so we are looking in the DFW area. We are looking for SFR or duplex but preference is duplex.

We have been preapproved for 200k & working with an Investor Realtor for 3 months now but most SFR around Keller are well above 200. Most duplex we see around Fort Worth within our range and below are run down and we are scared of chewing too much with construction costs.

Looking for ideas on what neighborhoods to expand our scope to in the dfw area for good rental property. Budget is under 200, duplex or SFR, need cash flow and some appreciation.

Lastly, does the year of construction matter? We have seen a couple of old houses in good neighborhoods in Keller for $210 but not sure if it makes good business sense to buy an older house in new neighborhoods. What are the chances of renting at the going rate in the neighborhood if the house is older?

[Lucia Rushton]

@Karen Oduwole look further south in arlington or more west into Fort Worth.