North Dallas Rental Market

[Javier A. Batlle]

Hi all, I am looking to buy a next rental property. I have been searching in the DFW, Miami and Washington DC metro areas. I have seen some really interesting properties in NE Dallas, Lake Highlands, Richardson and the likes. Even though I lived in Dallas for a couple of years, I was not an investor yet so I don't have ground knowledge. Do you consider these areas decent for a 2bed2bath rental prop?

[Balakishan Chenna]

@Javier A. Batlle I was in same situation as you 8 months ago, thinking to buy condos in 75243 /75231 zipcode ( ne dallas/lake highlands ). I researched and learned several things about these condos. 

positives : very cheap compared to sfh in the neighborhood, most of the homes come under richardson school district ( good schools), higher rents /higher cash flow to an investor (compared to sfh),  good demand for these condos ( it's very easy to sell if one puts the right price  to a condo with good condition.)

Negatives:

poor or average hoa management. 

Low income tenant base ( can be offset by section 8s, or good screening during leasing )

I started buying with one condo 8 months ago, now I own 6 condos in those complexes. I guess my positives dominated negatives.  It's just my research and understanding. Might  be other risks involved. So far I am positive on the ones I owned in cash flow perspectives.