Dallas or Fort Worth for investment rental properties??
I'm looking to invest in 2 single family rental properties. I'm not sure if I should look in Fort Worth or more towards Dallas? If anyone has any input I would really appreciate it! I'm new to Texas so I'm in need of some help! Thanks!
Hi Stephanie! Welcome to DFW! That's a broad question. I know Fort Worth some, not too familiar with the Dallas market. Where do y'all plan to live? Lots of great places in Fort Worth.
We are currently in the Saginaw area, but we are looking to move probably around Burleson or Haslet. We are still trying to decide where exactly we want to settle down.
as long as it's a good yield you want miss out with either Dallas or Ft. Worth both are hot!
Instead of buying 2 singles why don't you buy 1 duplex in a great neighborhood. House hack, live in half, rent the other half out. Low down payment. Then in a few months you can hop to the next duplex and do it again. You'll have 4 doors very quickly! And easier to manage cuz their only in 2 different locations. Bedford is a great area and they have lots of duplexes.
Hi Stephanie,
If you are planning on using them for rentals and you buy at that price point, the only problem is they are not likely to cash flow. Most of the good investment properties in DFW in this market may rent for .9-1% of purchase price, up to around $150K, if you're lucky. So you would be better off buying 3 for $150k or less if that's an issue. Both Dallas and Fort Worth are great right now. The area just north of where you are is appreciating fast, FW north of 820, Keller or Haslet.
Also Arlington Heights... rents are sometimes higher there too, if you like the older restored homes.
Dallas is more expensive. Hope that helps.
You work for what you get. I'm closing on a full duplex for 285k that's running me around 1.25% and it's turn key in Plano. It never hit the market like it was intending on doing and I knew the listing agent. Cash flow will be great!