Dallas Texas Native Looking to Get Started in Investing

3 Replies

Hello everyone,

I live in Dallas, Texas with my wife and son and work in project management for a regional commercial general contractor. I am interested in learning more about getting involved in real estate investing to develop an additional source of income. I'd like to start small and grow my investments over the long-term while maintaining my current employment. Currently, I'm renting and do not have any real estate assets. 

As I get started I would like to stay in the local DFW market. I am particularly interested in the live-in flip or small multifamily house hack and coupling that with a low down payment loan.  I understand that DFW is a pretty hot market, but I'm not comfortable with long distance investing. 

I'm looking to find some local lenders in the DFW area that are familiar with the FHA 203k process. I understand that it's pretty intensive and slow, but I feel like it could be a good option for me IF I can find the right property for it. I'd also like to learn more about Homepath and other owner-occupant targeted programs, as I feel like that will be my only chance to get a property over an experience all-cash flipper.

 I look forward to meeting other new investors in this area looking to learn and talk with people who have gone through the 203k process.

Thanks,

Austin

Originally posted by @Austin Christensen :

Hello everyone,

I live in Dallas, Texas with my wife and son and work in project management for a regional commercial general contractor. I am interested in learning more about getting involved in real estate investing to develop an additional source of income. I'd like to start small and grow my investments over the long-term while maintaining my current employment. Currently, I'm renting and do not have any real estate assets. 

As I get started I would like to stay in the local DFW market. I am particularly interested in the live-in flip or small multifamily house hack and coupling that with a low down payment loan.  I understand that DFW is a pretty hot market, but I'm not comfortable with long distance investing. 

I'm looking to find some local lenders in the DFW area that are familiar with the FHA 203k process. I understand that it's pretty intensive and slow, but I feel like it could be a good option for me IF I can find the right property for it. I'd also like to learn more about Homepath and other owner-occupant targeted programs, as I feel like that will be my only chance to get a property over an experience all-cash flipper.

 I look forward to meeting other new investors in this area looking to learn and talk with people who have gone through the 203k process.

Thanks,

Austin

 Welcome to BP.  There is a great group that meets monthly at the Gingerman.  @Nick Hughes usually puts out a monthly reminder.  ITs a nice low key group, no sales pitch, and the only cost is the beer you drink.  

Welcome! We sort of did that. We bought a house in Frisco that needed a little work. Mostly cosmetic but buyers in the Frisco area want turn key and typically shy away from doing any work, regardless of how good a deal. We lived in the home while we fixed it up. After 2 years we sold for a steep profit. We had appreciation on our side as well as added value from improvements. I can’t speak for Dallas it’s self as I rarely get down there but it isn’t hard to do in the Frisco/Plano area. I will say if you’re looking for anything under 300k it’s hard to find as foreign investors snap those up. They tend to shy away from over 300.