All Forum Posts by: Michael K.

@Ryan Blake thanks for the pointers Ryan! Glad to see someone from FW on the forum, so far everyone in DFW seems to be from the other side of the metroplex in the Big D.

@Derrick E. I see where you're coming from, you mean hard MANUAL work. Just to give you a different perspective on other types of hard work, there are people with desk jobs that put in 80+ hours a week for entry level analyst positions. I don't envy those hours but I hear if they stick around long enough before they burn out they hit the 6 figure income mark by getting a bonus at year end. I hear most never make it long enough to see the bonus and 6 figures... I don't know about you but 80+ hours a week is respectable in my book even if it's not manual labor, especially if they haven't gone crazy behind the desk or jumped out the window...that type of work is mentally taxing

@Derrick E. well that just goes to show there are judgemental people wearing both blue and white collars...none better than the other

Originally posted by @Jason Ray Richardson:

Originally posted by @Michael K.:

I'd prefer to stay near the Fort Worth area since I work in downtown. What is this house hack you speak of? Renting out rooms?

 House hacking is where you buy a du, tri, or quad plex and you live in one of them while renting out the others.

Ok, then house hacking was what I meant as my initial strategy when saying I was intending to go the owner-occupied 2-4 multifamily route via FHA.

Originally posted by @Jason Ray Richardson:

If you get the right deal it would be great. My suggestion, for what it's worth, is to be careful. From my understanding the Dallas market is really hot right now, if so, the good properties are going to be priced like they are great, and the just OK ones are going to be high too and there will be a lot of more experienced competition out there wanting the same properties. Don't get so ready to make a deal that you do a bad one. Stick with the numbers and use some of the tools available on the website to look at every deal.

Ive been wondering if the market here in DFW is so hot it might be better to wait for the tide to wash out and then buy. I realize the job market and demand is strong here in DFW but I'm concerned things may be overheated considering  property prices have increased by over 60% in the last 5 years or so yet median household wages in the area have pretty much stayed flat...it leads me to wonder how that's a sustainable trend once relocations taper off.

I'd prefer to stay near the Fort Worth area since I work in downtown. What is this house hack you speak of? Renting out rooms?

@Jim K. that envy joke had me cracking up! Kudos on inclusion of the Irish, French and Greek accents

Thank you @Jim Cummings and @Stephanie Potter for the pointers. I haven't given much thought of buying a distressed multifamily with the FHA 203, mainly because when I think distressed property I get the notion it may not be in an area I'd be fond of residing in. I might need to reconsider my comfort zone though. So do you all think worthy investment properties show up on the MLS? I was under the impression that the properties posted by realtors on the MLS were already marked up at retail with no meat left on the bone for an investor. At least that's what I heard mentioned at a local DFW REIA.

Hello BP community members, I'm a long-time BP lurker having browsed the discussion forums numerous times in the past but finally decided to sign up and join the community as a small step towards RE investment action. I relocated from the south Texas McAllen/Rio Grande Valley area, where 4plexes are abundant, back up to DFW within the last year. I have never owned a property so my initial strategy for breaking into the RE investing world was to go the 1-4 multifamily owner-occupied FHA route as my initial investment, using my one FHA "silver bullet". My question is whether that is a viable strategy in the DFW area given how hot the market is here and the seemingly uncommon nature of 1-4 multifamily properties? In the south Texas/ Rio Grande Valley area fourplexes are extremely common with entire subdivisions being comprised solely of fourplexes rather than large apartment complexes and the builders there keep on building them. Here in DFW these properties seem few and far between. The other issue in regards to the viability of the owner occupied 1-4 multifamily strategy are the skyrocketing property prices here in the DFW market which leads me to wonder if the numbers on such a property, if one were to turn up, would even make sense? Would a 1-4 multifamily property with good income metrics be a decently nice one to live in? I appreciate any insights on this or getting started with investing in the DFW market in general. Kind regards, Mike K.