Opinions on the DFW market??

I'm considering looking in the Dallas/Ft Worth area (I'm in Colorado) for buy/hold properties - any opinions out there about the market as a whole? Specific areas to look at?

Edited: 06/26/2010 at 07:00AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
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Icon_minipost Jan 21 '09, 10:23 PM

Very stable market both in real estate and economy. The recent oil price reductions from $140 per barrel to around $41 per barrell has slowed things some, but Natural gas wells are the big thing on the west side of Fort Worth.
Population growth in the Metroplex has been #1 in the US for the past three years running (major metro cities compared only).

What type of investments will you be looking to buy, SFR's, duplelex-4-plex, apartments, retail strip, etc?

Edited: 06/26/2010 at 07:00AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Brandi T

Real Estate Investor · Colorado

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Icon_minipost Jan 21 '09, 10:33 PM

prefer SFR, possibly duplex

Do you invest in Texas from California? If so, what are your thoughts about out of state investing?

Edited: 06/26/2010 at 07:00AM

Jon Klaus

Real Estate Investor · Dallas, Texas

2431 posts
48425 Influence
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Icon_minipost Jan 22 '09, 12:50 AM

What price/rent ranges?

Edited: 06/26/2010 at 07:00AM

Brandi T

Real Estate Investor · Colorado

66 posts
8 Influence
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Icon_minipost Jan 22 '09, 01:01 AM

I would like to stay around 100K with rent ranges around $1100 but I am also concerned about location. Is that reasonable?

Obviously, I have just started researching that market so I'm not very educated about it right now.

Edited: 06/26/2010 at 07:00AM

Jon Klaus

Real Estate Investor · Dallas, Texas

2431 posts
48425 Influence
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Icon_minipost Jan 22 '09, 01:35 AM

At $100K, you should be fine on location. I'd look at Garland, East Dallas, Farmers Branch, Carrollton, Irving, Arlington, and others.

You can get into some of those areas at $60K with $900 rentals and still be in relatively safe, working class neighborhoods.

If you are willing to rehab, you can buy for $25-45K, fix for 15-25K, and rent.for $850-$1100.

Edited: 06/26/2010 at 07:00AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
54461 Influence
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Icon_minipost Jan 22 '09, 09:09 AM

$100k can go a long way in the Metroplex. Jon pointed out several areas to look at, of course, in each city, there are comminities you want to stay away from.

To answer your question to me, YES, I invest from CA out of state and have for over 4 years now. It is important to develop the proper team members and it is also wise to get on a plane and check out the areas for yourself (after you set up your team) Then meet your team face to face and inspect the areas of interest to narrow your search down to specific neighborhoods.

I have a full team in place there, and most of my concentration has been in the Fort Worth area and west of that. Lots of growth and future growth potential there. It has slowed down slightly due in part to the lower oil prices, but they will pick up again.

Edited: 06/26/2010 at 07:01AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Shane Digby

4 posts

Icon_minipost Jan 28 '09, 08:07 PM

I would look in the arlington area ...I have recently started looking there as well ... this is where they are building the new stadium for the cowboys

Edited: 06/26/2010 at 07:06AM

Jon Klaus

Real Estate Investor · Dallas, Texas

2431 posts
48425 Influence
14 Awards

Icon_minipost Jan 28 '09, 08:18 PM

The new Cowboys stadium area offers great opportunity. In the immediate vicinity now are the Ballpark (TX Rangers), Six Flags, Hurricane Harbor, convention center, many restaurants and hotels.

Now with the newest, biggest and most expensive stadium in the US about to open--bringing the Super Bowl and NCAA final four, this part of Arlington (I-30/360) is becoming a huge (world class?) destination.

The truly amazing thing is that there are good rental neighborhoods within 5 minutes. You are on the right track.

Edited: 06/26/2010 at 07:06AM by Jon Klaus

Lee Warren

Inspector · Dallas/Fort Worth, Texas

74 posts
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Icon_minipost Jan 31 '09, 09:51 PM

Arlington has some nice areas. One downfall to consider is that everyone is looking there with the new stadium going in. There are some good deals still to be had there. Another thing to consider is where the growth in the MetroPlex has gone. Where are the majority of the new roads being built? Most of what I have sene in the last 10 years here has shown that the growth is going to the north and east. Up the Dallas North Tollway all the way across to I30 on the east side of Dallas.
I would personally stay out of Garland, Farmers Branch, and Carrollton though. The rental ordinances that require yearly inspections are inconsistent and can be quite costly. Another thing to consider is that houses are a bit different here than in California. I know that sounds strange, but in California, if you have a foundataion problem, you're in a world of hurt. Out here, it's just a way of life. The soil is very expansive out here, especially in comparison to California. I was born and raised in California, and moved to DFW 10 years ago by the way.
I am a licensed home inspector, a real estate broker, property manager, and investor myself. If you have any specific questions, please let me know.

Lee Warren

Edited: 06/26/2010 at 07:07AM