All Forum Posts by: Lance Phillips

Hello all,

I am new to the game and highly motivated to enter the market. I've been looking at properties in the Dallas suburbs such as: Richardson, Carrollton, Lewisville, Midway Hollow and North Oak Cliff (open to others). A few opportunities have jumped out recently, but I haven't had the resources to make a deal happen. I'm looking for an agent to help me out in my search for deals and execution. I'd like to move at a steady pace, since it I'm just starting; however, prices only seem to be going up in the Metroplex (along with interest rates) so not too steady! I have a strong background in real estate and finance, just not the hands on experience I could get from an agent. Let me know if you'd like to help.

Thank you,

Lance

The markets you mentioned are good spots, good supply of duplexes at fair prices for Dallas. You should also check into Lewisville.

Hello all,

I have been looking to buy my first rental property for some time now; however, I also need a place to live and don't want to throw money away by paying rent. I'm a recent graduate with a job in the Dallas, TX area. I've been looking for a cheap house to live in, then eventually rent it out and move on to the next. I keep coming across pretty nice neighborhoods with a good amount of townhouses available for about $100-$150k (my price range). 

So my thought is buying one of the cheapest houses to live in and flip over time, and eventually acquire the capital to buy more in the same neighborhood so I can easily manage them. I'd like to hear y'all's thoughts on this strategy and townhouses in general.

And I know the word townhome/townhouse can mean a couple of different things, so I'll clarify what I'm talking about. The townhouses in this specific neighborhood are basically duplexes, just two-story condos paired up on one lot.

Thanks for reading and looking forward to your responses.

-Lance

@Carlitos Irula

I’ve been looking for a duplex deal for a while and nothing has jumped out at me, mostly because there are hardly any on the market. I'm primarily looking in the Lewisville and Carrollton area. I believe duplexes must just be performing pretty well and no body wants to get rid of them. Since the Dallas multifamily market is doing so well, duplex owners are able to get the some of the highest rents they’ve ever been able to, and are starting to realize maximum returns. Larger properties, on the other hand, are hitting the market like crazy because their owners are able to get top dollar for their assets that aren’t performing on par with the new supply coming to DFW.

Thank you all for the welcoming replies. I'm looking forward to learning from y'all and sharing my knowledge. Feel free to contact me with any questions about the Texas multifamily market!

Hello, just started listening to the podcast this week, been listening to Dave Ramsey for a while and wanted something more real estate specific. I currently work in Dallas for a multifamily brokerage as an analyst. Some of the biggest multifamily deals in Texas come across my desk, and it has me eager to get in the game myself (starting slow of course). I want to start out with a duplex or something like that, any advice for the new guy?