Moving to Dallas - Evaluating Richardson / Carrollton Markets
Member since 2023 · 3 posts · 5 votes
Moving to Dallas - Evaluating Richardson / Carrollton Markets
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Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votesQuote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead of a potential move. I want to use this opportunity to kickstart my real estate journey and am evaluating two options:
- Purchasing a duplex and renting out one of the properties
- Picking up a single-family rental in the area (alongside the apartment we use ourselves: either rental / owned depending on pricing)
The two cities we've been exploring are Carrollton and Richardson. Anyone on the forum have experience investing in these markets? I'm specifically curious for whch neighborhoods best suit young professionals (we are early 30s; couple years before kids).
Hurst Real Estate, INC4.987 Reviews
13 Replies
- 2yKyle MccawBusiness MemberProperty Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
@David Freed congrats o nthe move. Bot hat good areas. I suspect Carrollton will be more attractive to you. Richardson should be more affordable. Finding a duplex will be a big challange. Dallas Fort Worth metroplex does not have as many small plex properties as other parts of the country. Reach out to @Joe Funari. He is a great realtor that understands exactly what you are looking to accomplish.
McCaw Property Management4.4902 Reviews - Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes2y
Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead
Welcome to Texas. Both nice cities. I'd probably lean more towards Richardson than Carrollton based on what the people I know say about schools. Of course all that could change in 7 years or more by the time yours would school.
Carrollton in my opinion seems to have more foundation problems than Richardson, but you can see them in both. Just seems like I see more in Carrollton.
There are duplexes in both cities but relatively few it seems. Just to give you an idea I only show 13 duplexes sold in both Richardson and Carrollton combined in the last year. So what is around also doesn't often change hands. When it does the price doesn't always make investment sense to me.
Might just be an idea to consider both...and some chance expand the search a bit, depending on what part of town your wife will work.
- Lender · Dallas, TX · Member since 2017 · 100 posts · 57 votes2y
agree with @Bruce Lynn here. Both areas are in the "mix" ie. close to major roads, tollways, etc.
- Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes2y
@David Freed
yes, I have experience in both. And each have unique pockets. You’re going to find more duplexes in Richardson.
It also depends on your price point and budget. because this is going to be your personal residence, at this point, I would just keep aware of city news and developments, and neighborhood pockets. As soon as you can make a trip out here, the best is to actually visit both.
As always, just my opinion, and not written by Ai
- 2yJay HurstBusiness MemberLender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votesThe area of town (in my opinion) that is best for young professionals AND house hacking is east Dallas or North Oak Cliff. I am partial to east Dallas as that is where I live and house hacked for years (before it was called house hacking!) but there are tons of small multi families in those two areas along with a ton of walkable neighborhoods with great bars and restaurants, and great neighborhoods. At least do yourself a favor and look into those areas before settling for the burbs!
Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead of a potential move. I want to use this opportunity to kickstart my real estate journey and am evaluating two options:
- Purchasing a duplex and renting out one of the properties
- Picking up a single-family rental in the area (alongside the apartment we use ourselves: either rental / owned depending on pricing)
The two cities we've been exploring are Carrollton and Richardson. Anyone on the forum have experience investing in these markets? I'm specifically curious for whch neighborhoods best suit young professionals (we are early 30s; couple years before kids).
Hurst Real Estate, INC4.987 Reviews - Member since 2023 · 3 posts · 5 votes2y
Quote from @Jay Hurst:
The area of town (in my opinion) that is best for young professionals AND house hacking is east Dallas or North Oak Cliff. I am partial to east Dallas as that is where I live and house hacked for years (before it was called house hacking!) but there are tons of small multi families in those two areas along with a ton of walkable neighborhoods with great bars and restaurants, and great neighborhoods. At least do yourself a favor and look into those areas before settling for the burbs!Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead of a potential move. I want to use this opportunity to kickstart my real estate journey and am evaluating two options:
- Purchasing a duplex and renting out one of the properties
- Picking up a single-family rental in the area (alongside the apartment we use ourselves: either rental / owned depending on pricing)
The two cities we've been exploring are Carrollton and Richardson. Anyone on the forum have experience investing in these markets? I'm specifically curious for whch neighborhoods best suit young professionals (we are early 30s; couple years before kids).
Thank you! This is very helpful - are there any neighborhoods you recommend specifically? The main reason for the suburbs would be that we are sensitive to commute!
- 2yJay HurstBusiness MemberLender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
Quote from @David Freed:
Quote from @Jay Hurst:
The area of town (in my opinion) that is best for young professionals AND house hacking is east Dallas or North Oak Cliff. I am partial to east Dallas as that is where I live and house hacked for years (before it was called house hacking!) but there are tons of small multi families in those two areas along with a ton of walkable neighborhoods with great bars and restaurants, and great neighborhoods. At least do yourself a favor and look into those areas before settling for the burbs!Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead of a potential move. I want to use this opportunity to kickstart my real estate journey and am evaluating two options:
- Purchasing a duplex and renting out one of the properties
- Picking up a single-family rental in the area (alongside the apartment we use ourselves: either rental / owned depending on pricing)
The two cities we've been exploring are Carrollton and Richardson. Anyone on the forum have experience investing in these markets? I'm specifically curious for whch neighborhoods best suit young professionals (we are early 30s; couple years before kids).
Thank you! This is very helpful - are there any neighborhoods you recommend specifically? The main reason for the suburbs would be that we are sensitive to commute!
where is the job going to be?
Hurst Real Estate, INC4.987 Reviews - Member since 2023 · 3 posts · 5 votes2y
Quote from @Bruce Lynn:
Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead
Welcome to Texas. Both nice cities. I'd probably lean more towards Richardson than Carrollton based on what the people I know say about schools. Of course all that could change in 7 years or more by the time yours would school.
Carrollton in my opinion seems to have more foundation problems than Richardson, but you can see them in both. Just seems like I see more in Carrollton.
There are duplexes in both cities but relatively few it seems. Just to give you an idea I only show 13 duplexes sold in both Richardson and Carrollton combined in the last year. So what is around also doesn't often change hands. When it does the price doesn't always make investment sense to me.
Might just be an idea to consider both...and some chance expand the search a bit, depending on what part of town your wife will work.
This is very helpful, thank you. I am new to this, so could you elaborate on what you mean by foundation problems? How does this show up with a house?
P.S. To your second point, my wife is targeting to work in Farmer's Branch. What areas of town might you consider for that?
- Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes2y
You could also look at Farmers Branch and Addison potentially. Maybe Coppell and maybe certain parts of Dallas. Although Farmers Branch is one of those areas like Carrollton that seems to have some of the worst dirt in the DFW area that can lead to foundation issues. Beware of realtors that try to sell you on lifetime foundation warranties or tell you the foundation is solid. That's pretty common. As best I can I point out either evidence of issues if we can see them when we show homes, so you don't waste inspection and option money on homes you end up not really wanting to buy. Foundation issues can cause all kinds of problems. #1 Lending issues....lenders may not lend on homes with serious structural issues. You can also have plumbing and sewer line issues....either before, or after the lift. Leaking lines can cause issues before and after lift. Carrollton seems to have more due to the rolling hills nature of many neighborhoods in combination with bad dirt. If the house sits downhill where water runs and sits towards the house, in my experience it will some day have foundation issues.
- 2yWale LawalBusiness MemberReal Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
Carrollton and Richardson are good real estate investing areas for young professionals unique for there closeness to Dallas. Castle Hills and Indian Creek contain a mixture of single family homes, townhouses as well as condos among others in Carrollton while Canyon Creek and Prairie Creek neighborhoods in Richardson offer updated single-family homes with good schools nearby. Price range, what you intend to achieve in the future, or the preference of managing the two rental units are some considerations for choosing between an apartment complex versus a single house to live in for life. Do a thorough market research and consult with local real estate professionals.
Good luck!
NETWORTH BUILDERS5236 Reviews - 2yJay HurstBusiness MemberLender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
Quote from @David Freed:
Quote from @Jay Hurst:
The area of town (in my opinion) that is best for young professionals AND house hacking is east Dallas or North Oak Cliff. I am partial to east Dallas as that is where I live and house hacked for years (before it was called house hacking!) but there are tons of small multi families in those two areas along with a ton of walkable neighborhoods with great bars and restaurants, and great neighborhoods. At least do yourself a favor and look into those areas before settling for the burbs!Quote from @David Freed:
Hi! My wife is considering a job move to Dallas and we are looking at houses in the area ahead of a potential move. I want to use this opportunity to kickstart my real estate journey and am evaluating two options:
- Purchasing a duplex and renting out one of the properties
- Picking up a single-family rental in the area (alongside the apartment we use ourselves: either rental / owned depending on pricing)
The two cities we've been exploring are Carrollton and Richardson. Anyone on the forum have experience investing in these markets? I'm specifically curious for whch neighborhoods best suit young professionals (we are early 30s; couple years before kids).
Thank you! This is very helpful - are there any neighborhoods you recommend specifically? The main reason for the suburbs would be that we are sensitive to commute!
North Oak Cliff is a neighborhood, and east Dallas is a bunch of neighborhoods but Lakewood, Lakewood heights, Lower Greenville, M streets are a few.
Hurst Real Estate, INC4.987 Reviews - 2yMichael SloanBusiness MemberProperty Manager · Richardson, TX · Member since 2023 · 31 posts · 15 votes
@David Freed we have young professionals all over Richardson. That part should be easy. Finding a multi unit property is going to be very difficult. There aren’t that many of them to begin with and they don’t come up for sale that often.
Carrollton or Plano will get you more bang for your buck
Brickyard Property Management LLC4.114 Reviews - Lender · Dallas, TX · Member since 2017 · 100 posts · 57 votes2y
Quote from @Bruce Lynn:
You could also look at Farmers Branch and Addison potentially. Maybe Coppell and maybe certain parts of Dallas. Although Farmers Branch is one of those areas like Carrollton that seems to have some of the worst dirt in the DFW area that can lead to foundation issues. Beware of realtors that try to sell you on lifetime foundation warranties or tell you the foundation is solid. That's pretty common. As best I can I point out either evidence of issues if we can see them when we show homes, so you don't waste inspection and option money on homes you end up not really wanting to buy. Foundation issues can cause all kinds of problems. #1 Lending issues....lenders may not lend on homes with serious structural issues. You can also have plumbing and sewer line issues....either before, or after the lift. Leaking lines can cause issues before and after lift. Carrollton seems to have more due to the rolling hills nature of many neighborhoods in combination with bad dirt. If the house sits downhill where water runs and sits towards the house, in my experience it will some day have foundation issues.
Some of the worst foundations I have come across have been in the Farmers Branch area!
I wonder if the digging for the 635 tunnel expressway had something to do with that.
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