All Forum Posts by: Rob Lee

Sounds like you are considering a purchase in a D neighborhood. Location, location, location. My wife and I have been investors since 2013. We have investments in A neighborhoods and a C+ neighborhood. We have had little to no issues with our tenants in the A neighborhoods. Paying rent on time has been an issue for tenants in the C+ neighborhood even before the pandemic. Tenants in our less expensive units have also done the most damage to our property. Also, we have only had to file for eviction against tenants in the C+ neighborhood. If this had been our first property not sure my wife would have been on board with purchasing more. Hope this helps.

Rob

We love to visit Austin and look forward to long weekends when the pandemic passes. As investors, we get so much more for our money in the DFW metroplex. Is the Austin market less expensive than California? Yes.

Rob

Hey Michael,

How is it going? What did you decide to do? Flip or rent? 

Rob

Hi Dylan,

Sounds like you have done your research. As a full-time realtor and investor, Dallas is a great place to be in the real estate business. Our market has continued to thrive even in a pandemic. There is a great deal of competition due to the backlog created by the previous recession. We have experienced incredible appreciation over the last 5-7 years. While cash flow is not easy, if your expectations are reasonable there are certainly deals to be had. It also helps to be first.

Rob

The DFW market has remained hot during the pandemic. We are low on inventory due to a lack of construction during the last recession. The lack of inventory has lead to competition on every deal. When you find a deal that works there will likely be multiple offers. Be prepared to move fast. Many out of state investors have no problem paying cash. The $200k -$300k budget referenced is sufficient for single-family house hacking. Any multifamily in that range is going to require quite a bit of work

The articles you are reading likely refer to the expected continued appreciation. We are one of the few remaining major metropolitans with affordable housing. DFW has a diverse economy and a great job market. New companies and their employees relocate here regularly. Texas has no state tax and the public schools in the DFW are well funded by our high property taxes. Quality renters want the same things homeowners want. 

Best of Luck,

Rob

The DFW area is constantly changing. If you are looking at areas with a great deal of new development like Melissa, for example, the options might be really old homes or really new homes. There are a few areas where there isn't a lot in the middle.

While less maintenance is a great reason to stick with new construction if you want to see more have a conversation about your parameters. In addition to the age of the home, you want to review location, budget, size, and number of stories if that's important to you. 

Best of luck in your search.

To help several more investors get started in the Dallas market, and to buy 2 more single-family investments myself!

Congrats again Andrew! Thanks for reaching out, it was a pleasure to work with you! Good luck on building wealth through real estate! Let me know when you are ready for your second one!

LOL! The demographics continue to change with each year. Succession is probably quite a ways off. 

This November article sheds light on why the DFW real estate market continues to thrive. https://dallas.culturemap.com/...

As you contemplate relocating to or investing in the Dallas/Fort Worth market consider the following:

1.  Dallas is one of the few remaining major metropolitan areas offering affordable housing.

2.  DFW gives you more space for your money. In the midst of a pandemic, Americans are spending more time than ever indoors. 

3. The DFW suburbs offer excellent public schools. Important for both renters and owners.

4. DFW hosts 2 major airports making it possible to get pretty much anywhere by plane.