All Forum Posts by: Harrison Sharp

Quote from @Jacob V.:

I'm going to have a 5 bedroom coming to market in Q4 that will be a perfect house hack and think any 3 + Den or 4 + office around $325k or under (where you can get the 5th bedroom) will still take out all living costs. 

Napkin math and assumptions are:
$700/room rent
~$2900 all in payment with taxes, insurance, etc at 5% down on a $325k

With an ADU you could also try and get more than $700/mo which is will improve the numbers.

Sounds like a great deal!!

Hi all, 

Been a long time poster on BP, investor, and house hacker in the DFW market for over 5 years now. Also currently an agent that runs a team and have some great house hack agents on that team as well. Wanted to give some advice/feedback of what I've been seeing in the market since rates have gotten up to 8%. 

House hacking still makes a ton of sense here and in my opinion is by far the best way to still enter into the real estate market. Average sales price in DFW has dropped from $490,000 in June of 2022 to $456,000 as of 9/30/2023. Part of this is probably due to the normal seasonal nature of the industry but I'm hoping we get some more relief on prices into 2024 to make things more affordable. Concessions for rate buy downs are becoming more common as well as creative financing strategies like 2 for 1 rate buydowns and subject to. 

Rent by the room especially on houses where you can create and add additional bedrooms for minimal costs still makes sense as well as buying properties with ADU's combining a mix of the rent by the room strategy with an ADU on site. A great example of a this is the property located in White Settlement - https://www.zillow.com/homedetails/126-N-Redford-Ln-White-Se...

The main house is a 3 bed/2 bath, and there is a completely separate guest house/ADU with a full bed and bath. There is also additional space to add another bedroom in both the main house and ADU.

What deals are you guys seeing out there that still are making sense in today's market? 

Everywhere in DFW is growing! Welcome to the market. 

I've sold over 75m in 3 years, work with a ton of investors, own rentals, and flip stuff myself. Would love to connect! 

Thank you!! @Denver McClure

I've sold almost 75m in real estate in DFW in the last 3 years and own a bunch of rentals in the area as well. Would love to help you out! 

Quote from @William Matthew Cowgill:

I am looking to purchase my first house within the first half of next year. I have seen a lot of successful real estate investor start with a duplex, triplex and even up to a quadplex and rent out the remaining doors to other tenants. Any advice you could give me to get started with house hacking would be a big help. Any thing you wish you would have done differently or have seen a better way to do it I would very much appreciate it. 

I started off my real estate investing journey house hacking! Bought a 3 bed, 2 bed house in Plano that has done pretty well and I rented out the bedrooms for four years that covered the entirety of the PITI. Now it will cash flow as a long term rental and have appreciated over 100k in value. My biggest regret is not buying something a little bigger on the first one - Wish i would have bought more sqft and more bedrooms and stretched by budget a little bit but my agent was greedy and didn't really educate me at all about how the housing market worked and just wanted a quick sale. 

Now I'm an agent in DFW and help a ton of BP members get into to their first house hack. Its a great way to build wealth. If you want to chat more let me know would love to help you out and avoid some of the mistakes I made on my first one! 

Doubt you'll be able to buy a Lennar home as a rental. Lennar in general is terrible, would not buy anything from them. Highly unethical company

Quote from @Will Schwalm:

Hi, 

I am a real estate investor in the Dallas-Fort Worth market. I specialize in wholesaling vacant land. I am looking for real estate professionals who specialize in land and are looking to do business together. If you understand the DFW market and have access to buyers, let me know! If we do deals together, I would love to split the profits with you. Thank you!

Best,

Will

I've got around 30 land listings all over texas right now. Currently looking for something in northwest dallas under 500k for a client. Ideally between webb chapel, forest, midway, and northwest highway. DM me if you have anything 

Quote from @Denver McClure:

Welcome @Dylan Lin! I suggest connecting with @Harrison Sharp. He's an experienced investor and an agent as well!

 Thank you for the rec!! 

Dylan - DM me if you need want to chat

Quote from @Michael Dumler:

@Clinton W., as an investor-focused real estate agent, I would love the opportunity to connect. I've had several clients buy in Dallas, Hiram, and Powder Springs. To be upfront, small multifamily deals are scarce and difficult to acquire at the moment. Nevertheless, feel free to shoot me an email or text to connect (contact info is listed in my bio). 

 Would recommend Michael for any purchase in GA