All Forum Posts by: Haley Powell

@Kenneth McKeown That’s crazy! I graduated in 2014, that was my first experience with a truly hot market. Our house was on the market for one day and we had ~8 offers if I remember right.

And yes, I think I’m going to have to find a balance. I think there are some fixer uppers in East Dallas as it’s still coming up but I’m not sure if they would end up cash flowing and from what I’ve heard there are still some truly rough parts of it. As a single woman that’s something I need to think about. Thank you for your help! I have time and I need to save money for a down payment, so I’ll have to keep my eyes peeled.

@Anthoney Hanks Excellent point! Luckily, my firm pays for transit passes, so that’s definitely an option. My only hesitation with that is that I’m in a deadline driven profession and we have the occasional late night that may mean an Uber instead of the DART. But that’s a great thought! Thank you!

@Kenneth McKeown Hi Kenneth! Thank you for your help!

I actually did my last three years of high school in Coppell, TX and I interned in The City of Dallas from May till December 13th! So I’ve been, and I’m vaguely familiar with the city and I really enjoyed my last stint there.

I’m pretty up to date on the Money Podcast and I’ve just started the Real Estate Podcast so I’m tracking with you there, I’d definitely prefer a duplex. I’m just not finding much, and I’m sure it’s the property values you’ve mentioned.

Do you have any areas you like more for cash flowing properties?

I’d definitely prefer to be nearer to where I work but I may have to bite the bullet and go farther out.

I will be moving to Dallas around May or June so I am trying to familiarize myself with the market there and scope out good areas suitable to househacking. I am trying to avoid getting too far out from the core or into the suburbs as I'll be working in downtown Dallas proper and I've heard commutes can have some brutal traffic. I would preferably be able to eventually buy a place so I can househack and eventually leverage my savings into buying more properties. However, from what I've seen on Zillow (not the best source, I'm sure) most of the more affordable places are farther out or are in South Dallas and need quite a bit of rehab. Considering that this is my first property and I don't have the resources or connections in place to rehab yet, I'd like to find something that doesn't need a huge amount of renovation.

Does anyone have any suggestions on where to look in Dallas proper for a first time househack? 

Any advice on property type would be helpful as well, I've seen a fair amount of condos and I'm unsure of how their value holds up over time and duplexes seem to be fairly rare. 

Just to clarify my own monetary situation a bit more: I am a grad student currently and I will graduate in May. I interned in Dallas through summer and fall and rented in the Oak Lawn area. I will be making about $50,000 at my new job so my budget is limited.