All Forum Posts by: Thomas Ross

Most likely no, however it would be a great start in the fact that your living expenses will be highly subsidized by the other units should you choose to owner-occupy one.

@Kenneth McKeown thanks for the response Kenneth. What areas would you suggest looking on for small multis? I know there are some older builds in Arlington and then I’ve seen some duplexes in Richardson but when I run my numbers they hardly seem to cash flow after moving out.

@Bart H. thanks for the appreciation insight Bart! Where did you end up buying your duplex if you don’t mind me asking?

Hi there BP community!

I'm a new investor in the DFW area currently saving capital from my W-2 for my first purchase. I want my first purchase to be close so that I can self-manage and gain as much knowledge as I can (profit would obviously be icing on the cake). My question to you all (especially those of you with experience in the DFW area) is where I should start?

I often see condos on the north side of Dallas that could cash flow decently and get me in the game at a low price point, but I have read many times about the dreaded HOA's that can ruin investments. I would love to hear some first hand experiences with the condo market in Dallas (good or bad) if you have any.

My other option is to house-hack a duplex. However, the supply seems very low in the area and I would need to save for quite a bit longer just to end up paying out of pocket still for a small part of the mortgage. Also, the only duplexes I can find on the Dallas side that are in a safe neighborhood would be those in Arlington, once again resulting in even smaller supply to choose from.

Any advice towards either of these strategies would be very much appreciated.

Thanks in advance,

Thomas

@Joe Funari Hey Joe, I am actually looking to house-hack here in DFW as I move out of my parents house (just graduated college in December). I was wondering what suburbs you suggest? I mostly see duplexes in Arlington and the south side of Fort Worth, but I'm more inclined to live on the north or east side of the metroplex and am having trouble finding properties that cash flow enough to cover PITI on an FHA. Any tips?

Thanks for sharing this Kevin! it's great to see the step-by-step, but also to hear about your thought process throughout, especially when new challenges arise.

@Justin Windham

Thanks for the useful links Justin. I love all the useful and applicable knowledge available on this site.

@Michael Ward Thanks for reaching out Michael. I'd love to connect and get some information about your personal experience regarding REI in Arkansas!

Hello BP Community!

My name is Thomas Ross and I am a recent college grad (Dec '18) living in Dallas, Texas. I've done loads of real estate research during my daily commutes through podcasts and audiobooks since graduating, and I'm so excited for where this will take me. Every expert preaches "Network, Network, Network!!" and so I thought to myself where is my biggest network currently? At my university in Arkansas of course! So since that thought I have had a phone call with the University president, explaining ideas, asking questions, and seeking his opinion on the area. He has since given me contact info and referrals to the best contractor in town (who is also the biggest real estate investor and an alum of the college) and also the info of the head title officer in town (who is on the board of the university). So it is sufficient to say the call paid off. I am going up there in August for a few in person meetings with various real estate folks in town. I should be able to save up enough capital for a property in 10-12 months. I believe the BRRRR method will work wonders in this small Arkansas town based on the numbers I have ran (and my personal experience with the area). I can not wait to get started!

Anyways, I just wanted to introduce myself, share my plans, and thank you all for the information I have learned so far!

-Thomas Ross