North Fort Worth single family investing

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North Fort Worth single family investing

Suhag C.
Coppell, TX · Member since 2015 · 6 posts · 0 votes

Hi BP members,

I am a huge fan of y'all and admire all the real estate knowledge sharing happening here.. (also big fan of podcast, thanks Brandon and Josh - you guys are doing an amazing thing here)...

I am starting out with a single family home where I plan to stay for few years and then move out or may be pay it off. Currently I have a house in contract in a community on hwy 114 which is 4 miles west of Texas motor speedway (zip 76247) and north of Alliance airport. This house falls under my budget of 155K and is almost brand new.

Being investing for the first time in life I am little nervous about following:

- The house is in Fort Worth city limit and comes under zip code 76247 (Justin, TX). So the question is - being too far north Fort Worth would it get city municipal services as frequent in metroplex?

- Not much familiar with DFW development history - does the area has future development prospects?

- The house is very close to Northwest ISD schools - elementary, middle and high school are within 0.5 miles. Nearest grocery stores are few miles away in Roanoke and near Alliance shopping area. But being little remote when its time to rent the house or sell off would it be a good potential? 

Thank you,

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Philip Hy
Rental Property Investor · Plano, TX · Member since 2015 · 59 posts · 41 votes
10y
I would also recommend north Fort Worth and Watauga. I just bought a property and it leased quickly via Postlet. Just make sure you buy in locations with easy access to highways. People want to have access to Fort Worth without paying Fort Worth prices.
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  • Richard D.
    Investor · Fort Worth, TX · Member since 2013 · 309 posts · 150 votes
    11y

    @Suhag C. you are in a great location for rentals. If you are within the city limits you get all the city service, water, fire, police, garbage, and so on. You will find that in the DFW distance is not a problem. It is not uncommon for people to move 50+ miles away from work here.  You will not like the area the first weekend of April and November because of race traffic. The school district is a good one so you will not have a problem selling or renting.

    Congrats.

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  • Suhag C.
    OP
    Coppell, TX · Member since 2015 · 6 posts · 0 votes
    11y
    Originally posted by @Richard D.:

    @Suhag C. you are in a great location for rentals. If you are within the city limits you get all the city service, water, fire, police, garbage, and so on. You will find that in the DFW distance is not a problem. It is not uncommon for people to move 50+ miles away from work here.  You will not like the area the first weekend of April and November because of race traffic. The school district is a good one so you will not have a problem selling or renting.

    Congrats.

     Thanks Richard D. That's motivating. Just an update though - during home inspection we found settlement cracks located above garage door, several cupped shingles on the roof and some soil eroding near side grading. We've asked our agent to extend option period till resolution of these issue. Hopefully it gets done :)

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  • Richard D.
    Investor · Fort Worth, TX · Member since 2013 · 309 posts · 150 votes
    11y

    settlement issues are common in DFW, and you can expect to have periodical foundation issues. Ideally you want to run a water line around the exterior of the house and water it during the summer at least once a week.

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  • Philip Hy
    Rental Property Investor · Plano, TX · Member since 2015 · 59 posts · 41 votes
    10y
    I would also recommend north Fort Worth and Watauga. I just bought a property and it leased quickly via Postlet. Just make sure you buy in locations with easy access to highways. People want to have access to Fort Worth without paying Fort Worth prices.
    1Reply
  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    10y
    Originally posted by @Philip Hy:

    I would also recommend north Fort Worth and Watauga. I just bought a property and it leased quickly via Postlet. Just make sure you buy in locations with easy access to highways. People want to have access to Fort Worth without paying Fort Worth prices.

     Or being in Fort Worth ISD, which doesn't have a hot reputation aside from a handful of decent elementary and a couple of decent high schools.    Fort Worth prop taxes are also really high.

    Back to the original question, N. Fort Worth and the Alliance area are hot.    I couldn't bear to be dependent on I35W north of Fort Worth as my major highway, but there are plenty of jobs up that way, and it's continuing to grow.

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