Rental Property Investor · NY · Member since 2020 · 14 posts · 0 votes
Hello all,
I am looking to invest in multifamily properties in the Dallas/Ft Worth area. I currently invest in NY but am looking to embark into the Texas market. I am not that familiar with the top area to invest in Dallas/Ft Worth. I would appreciate connecting with any investors/realtors in the area that could steer me in the right areas/neighborhoods.
Hello @Joseph Barthelemy DFW is a great place! A couple of questions for you if I may - are you looking for SFH or small MF? do you want turn key or want to do work? what is your risk tolerance for OOS investing? You paying cash or getting conventional financing? and lastly what's your budget - is it realistic? Hope these questions help! Best wishes, Lucia
Hello @Joseph Barthelemy DFW is a great place! A couple of questions for you if I may - are you looking for SFH or small MF? do you want turn key or want to do work? what is your risk tolerance for OOS investing? You paying cash or getting conventional financing? and lastly what's your budget - is it realistic? Hope these questions help! Best wishes, Lucia
@Joseph Barthelemy, Dallas/Fort Worth is a great place to be looking! The unique thing about Dallas is there are not an abundance of small multifamily such as duplexes or fourplexes. They definitely exist, the East Dallas/Junius Heights area is a great place to start, but they are few and far between. There is definitely opportunities to invest in larger multifamily properties, but it is hard to find deals that cash flow right now. DFW appreciation is amazing right now and rents are sure to follow, so you might have to get creative initially to make a deal work but if you can find something it is bound to pay dividends down the line!
@Joseph Barthelemy as a fellow investor & Realtor I invest in the Dallas/Ft. Worth area and surrounding communities. But my experience with helping fellow investors acquire multifamily is that they are currently going for substantial amounts over asking price. And most are going to other cash buyers. So you will need a lot of patience, as well as, any agent you choose to work with in this regard. Personally, I invest in Single Family Residences (SFR) for long term investment strategies. If you want to learn more about the area just let me know. I will be happy to give some guidance. Especially, local REI club meetings to attend too. You can never learn too much from REI.
I am looking to invest in multifamily properties in the Dallas/Ft Worth area. I currently invest in NY but am looking to embark into the Texas market. I am not that familiar with the top area to invest in Dallas/Ft Worth. I would appreciate connecting with any investors/realtors in the area that could steer me in the right areas/neighborhoods.
Thank You!
Hey @Joseph Barthelemy, I've invested in multifamily properties across Dallas, and I can honestly say you'll do just fine investing here if you can get your hands on a deal! Feel free to message me and we can set up time to talk about the area. Always happy to help!
My general thought is draw a big circle around DFW and invest on the outskirts or out of the circle. So starting in the SW that might be cities like Joshua, Cleburne, and just continue around the circle...so Weatherford, Stephenville, Azle, Decatur, Krum, Sanger, Aubrey, Collinsville, Whitewright, Sherman, Denison, and continue around....
As others have mentioned competition is very hot. I'm seeing people now buy with 1% rule now the 1/2% rule year one....I think I just saw 4 unit with about $6000/month total rent asking $1.3million....so you have to think if those returns will work for you. For some reason also we don't have as much multi as many areas of the country. Maybe because we have more land or different style of homes.
Just something to consider...good luck and best wishes and let us know if we can assist in some other way.