What suburbs of dallas would you look into investing that has strong job grow, but prices are not super high.

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

Hi All,Pennsylvania has new legislation going into effect in January 2025 that requires wholesalers to have a real estate license in order to wholesale.

If there is debt on the property you run into the debt-financed property issue which can cause the rent to be treated as UBIT and be subject to the trust tax rate which increases to 37% extremely fast.

Hey Ethan,I'm actually in the same position as you, except I already have a house that has a detached garage I want to convert into a ADU, just wondering when I should start.

Are you trying to get into a different investment?

I believe the pay system we have is fine,  Lets break it down to someone who make 100K a year.  

We've been honing in on a pretty good development/investment formula that is working for us where we buy an existing single or multi-family house that can be improved or easily split into smaller units, and then we also add small new construction units to the property (townhomes or duplexes or cottages) and, generally, we rent them all out (though we have sold a couple of single family rehabs and we may sell the units in our next big project...

Yes absolutely to start off I am looking at 2-4 unit multifamily properties.The part where you mentioned about going out into the market and not just sitting behind a computer screen, that's one of the biggest things that has kept me from making any significant moves so far.The first thing I want to learn is how an investor analyses a property (not only using numbers, but qualitatively), and I think going out and looking at real deals and talking to investors is the way forward.Thanks a lot for your response.

@Kent KettellWe have been using loan to cost funding our deals the past three years, with community and credit unions, and the refinancing once stable to agency.we are able to get 80% of the rehab built into the loan, and it has allowed us to come up with less.