All Forum Posts by: Jon Shoop

Mountain biking, hiking, jetskiing, boating, fishing, snowboarding on vacation, batting cages, skeet and sporting clay shooting, lots of fun outdoor activities in DFW!

This is a great question. I've asked it and been met with the response, "get in line!"

Some really great opinions and advice in here! Been enjoying reading everyone's response.

Hi Ashley,

A few ways I've noticed/notice that an area is going to appreciate in value are the following, and I notice this throughout DFW:

• What other developments are going on in the area? Is there a new apartment building being constructed nearby?
• What is the city doing in the area? In Dallas, the appreciating areas may not look newly paved, but seeing how the city is taking care of the area is one way. For me in Dallas and Fort Worth, is the area filled with a lot of trash? Is it clean? 
• To follow up with the care of the area -  What does the area look like? Are there parks projects going on? Running trails being developed? Dog parks?
• Homes in the area - what percentage are looking run down vs. What percentage have been torn down and rebuilt, or remodeled?
• People in the area - how are they, what do they look like? Young professionals? Old retire-ees? Family's?

Then of course there's just the time consuming work of digging through for-sale listings and looking at property and tax values. 

All of these are questions to ask when trying to understand if an area is going to appreciate in value in the short term vs. long term. 

I hope this helped!

Great information! I think the Texas economy is strong in lot's a places. Housing definitely being one of the top areas. Good to know we have a good trend down south of DFW in Austin. Keep up the great work!

Since you already said that you aren't buying it initially for a rental investment property, I think Lucia has great input here on buying this home for yourself. 

In addition to her comments, I would ask myself if this neighborhood looks like it's going to greatly improve over the next 5 years. Or if it is going to be much of the same that it is now? In Dallas and Fort Worth, some neighborhoods are moving quickly to create more upscale appeal. While some neighborhoods throughout DFW are working at a snails pace or aren't moving the needle at all when it comes to improvements. It's hard to say without getting more details on the specific neighborhood you're moving to. I've seen some areas in North Texas start looking great after a couple years while some look even worse, and the only difference in location is one street over from the other. 

Even if 20% of the homes in that area get a remodel or torn down for a new home in the next year or two, what other percent of them do you think are habitable right now for a professional of any age? I would just be weary of even after 5 years of time, is this going to be a neighborhood you'd want to stay in? That should be your "exit strategy" question because it will tell you three things: 

1. If you like your commute, area, etc. would you stay?  

2: If you are looking to sell after 3-5 years, is your overall neighborhood going to be able to justify a buyer wanting to move to that home at the price point you are going to want to ask?

3. If you are looking to use it as a rental home, is your overall neighborhood going to be able to justify a renter wanting to move to that home at the price point you are going to want to ask?

Just my two cents. And great question! Really got the juices flowing for me for further investment properties. 

I agree with Mr. Greene here. However, I would ask for these documents and details from all realtors. Then I would ask what #marketing they bring to the table. Then ask them for their channels and compare notes on what they said they do for marketing each property, and with what they actually do for marketing each property. There will most likely be some glaring discrepencies with what they say and what they actually do. In Dallas when selling my home, I found that certain realtors will say they deal with all aspects of social media and constantly post. Then I got their handle and checked them out. Guess how many of them in DFW actually did what they said they do marketing-wise? Not many. Since then I've entered this industry, I've been able to get connected with tons of great realtors in Dallas and Fort Worth.

Realtors worth their % are out there, you just need to do some digging and hunting. Which also may make sense why you're leaning towards a realtor with less experience... they're HUNGRY for those sales. Hopefully any realtor your find, they're going to pull out all the stops and do all the marketing that needs to be done in this day and age. 

Sometimes it's the new kid on the block, sometimes it's the tried and true OG realtor that's been able to pivot and get with the times to their advantage.

 I'm with Mr. G on this one. Have it in writing on your lease. No one likes unexpected surprises like this. But sensible people have to realize that the cost of most everything goes up each year. If a tenant understands that it isn't you just trying to nickel and dime them and have a legitimate cause to increase, such as your insurance premiums and property taxes going up, they'll be much more understanding. 

Wow that is good to know and very interesting! I saw a statistic recently and it said that DFW has a ~6-8% higher renter vs. owner rate than the U.S. average. Great market for #investments, #buy and hold, and #BRRRR

I work at a property management company in DFW. We've had several clients #househack, but when it comes to managing tenants on the other side of the duplex it's hard not to get emotions involved. People think that managing the house next door or down the street is easy because of the proximity, but a lot of the time that just makes it even harder! Who wants a resentful or spiteful tenant being a stone's throw from your family? In Dallas and Fort Worth, the competition to get a great duplex for #BRRRR is getting harder by the day. I'm glad to have the team I do to help myself and my clients grow our portfolios. Feel free to reach out for help!