All Forum Posts by: Michael H.

What part of Dallas are you looking into? I actively look for duplex and have seen maybe 4-5 duplexes the past 6 months that would cash flow. For example: I picked up a B+ duplex for $500k that I’m house hacking and I have one side leased out for $2,500. 

Congrats! What will the numbers look like once you rent both sides out?

I’m hacking right now. Numbers aren’t the best but it works for me.

PP: $500,000

Appraised: $600,000 

Mortgage: $3,350 includes $200 of PMI

Renting one side for $2,500

Zip code is 75229. There are a few very nice full duplexes in 75229 and 75230. Very prime location. 

Lower Greenville has a few duplexes too. Richardson too. 

Message me if you’d like to chat!

We were able to register for a GC license so we can pull the permits. 

We are going to apply and submit the permit application and also the floor plans for renovation. I believe they want a current floor plan and a floor plan for after walls being knocked down.

My question is what will be the process after and when does a structure engineer step in? Is it before applying for the permit or after? How long can I expect the city of Dallas to approve?

Unfortunately I called the city and they were not helpful. 

I’m in the process of renovating a property. I am having my contractor do all of the work who is not licensed. This will be a house I will be flipping. Most of the work is cosmetic except for 2 things: removing a 8 ft load bearing wall and moving plumbing in an existing bathroom.

Will I have a problem getting a permit if my contractor is not licensed? Can I pull a permit on my own even if this is not my primary residence? 

I'm looking at a multi-tenant property with 2 anchored tenant. The property is 75% occupied with a cap rate of 8% in a dense location with higher than average household income. The property price is $1.6M

My my understanding, I will need 25% down payment plus 5-10% liquidity. So I will need roughly $560k. If I can come up with $300k, can I use a bridge loan or private loan to make up the rest ($260k)? If a bank was underwriting this loan, will this be an issue? Are there any other ways to make it work? 

I’m also in the same position right now in North Dallas. We decided to sell now and rebuy in a nicer neighborhood in 6-18 months after the economy stabilized from COVID-19. If we can’t sell by then, we will be renting it out. Is the home in Frisco? 

Hi Theresa. I thought about a duplex but do not like the idea especially duplex in North Dallas or Lower Greenville area will cost $450k+ 

Hey everyone!

I am about to sell my house in the Preston Hollow area. I got a good deal on a property by Preston/Royal and our neighbors have been selling for $80 per sq ft more than how much I paid which is around $176k more than how much I paid. The great thing is that I have the flexibility right now to move around (no family, no kids). However, I would like to stay in the North Dallas (A little north of 635 and below) or East Dallas (Lakewood area). 

Since I have the flexibility, I was going to find a room on airbnb to rent and find a distressed property (after the sale). Use a hard money lender to fix up and refinance out (30 year fixed) and pull the money out that I put into the rehab. 

Is this a viable option? I want to get your thoughts and see if anyone has done something like this?