All Forum Posts by: Braden Jackson

Hey Ryan,

To clarify a bit, the stage I currently find myself in is more centered around research and understanding the market in DFW. My current living situation is still going to be in place for another 7-8 months, so buying something in the very short term isn't necessarily my goal. Trying to do the groundwork now while my hands are tied so that when the time comes where I actually can purchase a HH, I am not starting from day 1. My question mostly stems from from those research gaps I currently have. I don't have an agent, but will be looking for one in the coming months. My current expectations are to find a HH that doesn't need extensive repairs, and is currently in a relatively nice and safe area. I am investing for the long term, so I am not extremely worried about cash flow, and more interested in playing the appreciation game/rent growth game.

Hey BP community,

Just wanted to thank you all for the wealth of knowledge I have learned thus far from comments I received on my first post a few weeks back. From that post, I mentioned that I am a new investor looking for my first househack in the Dallas/Fort Worth, TX area. I've been on the hunt for a duplex for several months, and have been doing a ton of research on current inventory on market and what properties warrant different asking prices. One thing I have been struggling with is finding what properties are actually selling for. I will track properties up until they are pending sale on Zillow, Redfin, etc, but I can never seem to find what the property actually closed for. From some additional research, it seems that Texas is a non-disclosure state, which could be the reason why there isn't that much information out there. Am I just out of luck due to the non-disclosure applicability? Does anyone have any insight in how to access this kind of information? I would love to get a better understanding of what duplexes in this area actually sell for, and not just running my numbers based off of initial listing prices from owners. Thanks in advance for any advice you all have!

Happy investing!

Hey BP community,

I am a new investor looking for my first househack in the Dallas/Fort Worth, TX area. I've been on the hunt for a duplex for several months, and have been doing a ton of research on current inventory on market and what properties warrant different asking prices. One thing I have been struggling with is finding what properties are actually selling for. I will track properties up until they are pending sale on Zillow, Redfin, etc, but I can never seem to find what the property actually closed for. From some additional research, it seems that Texas is a non-disclosure state, which could be the reason why there isn't that much information out there. Am I just out of luck due to the non-disclosure applicability? Does anyone have any insight in how to access this kind of information? I would love to get a better understanding of what duplexes in this area actually sell for, and not just running my numbers based off of initial listing prices from owners. Thanks in advance for any advice you all have!

Happy investing!

Thanks for the advice Jake! Low down is my preferred method for sure, as I am still early into my career income wise, but more down allows the flexibility of the property to at least break even or cash flow a bit after I move out. It will be dependent on the property I think, so keeping both options open and seeing what I find! Appreciate the response!

Thanks for the response Ben! Totally agree with you and Ryan regarding the PMI. Great insight that I think is often a worry for new investors at first glance. Goodluck with your first HH as well. Keep us updated on your success!

Thanks Bruce, I appreciate your insight. I rented by the room in college with 4 other friends, and I couldn't believe how much the landlord was getting grossing in rent. For sure something I have considered in the past, but currently the privacy of having my own home / space is something that I am set on having. I know this limits my options further, which is why I have focused on small multi.

Exactly what you mention in your second comment is what I'm running into. Low % down would be ideal, but total rents just don't cover PITI once I move out with current rates and home prices in the area. Hoping that rates change this a bit, but as we all know lower rates means more competition which often times leads to higher home prices. Catch 22 for sure.

Not necessarily looking to do heavy rehab, but am open to improving the property after purchase if the right property comes my way. Still doing lots of market research all over the area to see what my options are. Thanks again for your response!

 Hey Jay, thank you for your response. I try not to get too far into the weeds, and keep things simple. Analysis paralysis is real, and I can def get caught up in every possible scenario. My goal is to get a base hit with this first property, and learn the in's and out's of investing in this market along the way. Appreciate your advice!

Hey Ryan, thanks for the response! Great insight on the PMI. This was something I always worried about until I saw you post on another thread using the same logic. For me, its more about being able to at least break even or cash flow after year 1 when I move out. Low % down is ideal, but I'm not sure rents will cover PITI at current rates and home prices. Very valuable advice, thank you sir!

Really appreciate the response here Andrew! I agree that it will likely come down to the property and how those numbers pencil out. In an ideal world, I would go forward with a low % down, and save the remainder for my next investment. When running my current numbers from properties all over the DFW area using low down payment options, often times rents don't cover the cost of the property once I move out after a year. This investment for me is something I want to hold in the long term. I know people are comfortable with losing money in the short term until rents and appreciation catch up, but as this is my first property, I don't necessarily want to buy something that produces neg cash flow. All that to say, I'm continuing to be patient until I find something I truly think is worth while. Will def reach out as to you as someone who understands this market and has invested themselves. Thanks for the advice! 

 Thanks for the response Ko! Great insight!