All Forum Posts by: Rob Lee

Austin is the most expensive city in Texas. Five years ago homes were twice as much as those here in the North Dallas suburbs. Have you considered investing in DFW?

@Vernon Watts Congrats on the opportunity! Make sure you understand the taxes. Each unit is taxed separately. Get a copy of the lease for the other unit. There are sellers who will allow a month to month at a discounted price to make the unit appear occupied. You'll also want to get a copy of the tenant's payment history. Do they pay on time? What utilities are covered? Even if they have a Texas lease the owner could have agreed to modifications/exceptions where allowed. Good luck! 

@Eric Ruiz While the Dallas market remains hot, COVID has made sellers in areas further away from the city more open to negotiating. Right now, we remain one of the few major metropolitan areas with homes first time buyers can afford.

Hey Cody! Definitely understand the goal. While "great rents" would be relative to your personal goals I can't say that I am familiar with many B- or C+ neighborhoods that deliver. You might be able to find a B-/C+ property in an A/B neighborhood. In any case, once you get prequalified a Realtor can help you check rental comps for properties within your price range. Check out, neighborhood scout. It can be a useful tool.  

Congrats on turning your first home into your first rental. That's how we got started! No need to make unnecessary upgrades. If you have cash available save it for future repairs and make ready. Our rule with a cash-out refi is to keep a mortgage low enough that the rent will also cover taxes & insurance. Good luck!

From an investor perspective, the good thing about DFW is that it's not a "college town". There's a demand for more affordable housing in areas near universities within the city.  Renting by the room may be the only way investors can cash flow based upon the current housing prices in this market. Do your homework and treat the area like any other? What else does the neighborhood have to offer if you are not there for the university?

@Jordan Moorhead There's a lot to like about Austin, TX if you don't have a problem with the higher cost of living.  We considered Austin but struggled with the insane traffic and cost of housing. 

Congratulations on your pursuit of debt freedom!  My wife and I are both military veterans wishing we had stayed in long enough to retire. Texas has been great for us! We live in a Dallas suburb with great public schools and plenty of opportunities for work if that is part of your plan. The cost of housing has certainly increased over the last 5-6 years. As an investor and homeowner, it has been AMAZING! For those interested in buying DFW remains one of the more affordable major metropolitan cities in the U.S. What you are not going to get here is scenery. This area is not much for trees, mountains, or natural bodies of water. Hope this is helpful. 

At one time there was an abundance of military housing. It's possible that military housing was made available to civilians.  Understandably, there was an impact on the vacancy rates for real estate investors. Not sure what the circumstances are now. 

@Rohan Gangar Check out the rental calculators available here on BP. They are a big help.