Actively looking for Cash Flowing Multifamily in DFW area

Investor · Keller, TX · Member since 2019 · 76 posts · 62 votes

Is it possible to cash flow in this area for Duplex,tri,quadplex? Ill be there next month to check out properties. Im looking to move here in the next year or less so I wanted to supplement my income before moving.

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Ceasar Rosas

Real Estate Broker · Bronx, NY · Member since 2011 · 597 posts · 341 votes

@John B.

I went there a few months back. I'm from New York, so I'm back and forth about investing so far. I have been analyzing deals looking at 20 units and more. The market is good, but a lot of competition making caps kind of low. Looking to get more serious about that area pretty soon. @Lucia Rushton was a great resource while I was there and had great information and knowledge on the area. Reach out if you have any questions.

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Ceasar Rosas
Real Estate Broker · Bronx, NY · Member since 2011 · 597 posts · 341 votes
3y
@John B.

I went there a few months back. I'm from New York, so I'm back and forth about investing so far. I have been analyzing deals looking at 20 units and more. The market is good, but a lot of competition making caps kind of low. Looking to get more serious about that area pretty soon. @Lucia Rushton was a great resource while I was there and had great information and knowledge on the area. Reach out if you have any questions.
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Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
3y
Quote from @John B.:

Is it possible to cash flow in this area for Duplex,tri,quadplex? Ill be there next month to check out properties. Im looking to move here in the next year or less so I wanted to supplement my income before moving.

@John B. The cap rates in Dallas proper (where I invest and live) have been hammered lower for the same reasons as the rest of the country. So, it can be tough but with the rising interest rates sellers are starting to get more realistic. If you are willing to value add there are a lot of older properties that are under rented. I own a handful of 2-4 units in the city so happy to help.
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Jevon Shaw
Investor · DFW, TX · Member since 2022 · 198 posts · 161 votes
3y
It's definitely possible. But at least for the west side of DFW, it's very important to go by neighborhood, instead of by zip code. Fort worth in particular has at least 3 zip codes that include both very nice areas and pretty run down areas.
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Lucia Rushton
Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
3y
@John B. sent you a DM. :)
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Mo Karim
Real Estate Agent · Dallas, TX · Member since 2020 · 164 posts · 80 votes
3y
Quote from @John B.:

Is it possible to cash flow in this area for Duplex,tri,quadplex? Ill be there next month to check out properties. Im looking to move here in the next year or less so I wanted to supplement my income before moving.
There are definitely deals out there for 2-4 units. The problem is no one wants to sell these after they purchase them so inventory is low. I work with several investors here and from out of state. Happy to help with any additional information.
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Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
3y
Cash flow is often a function of how much you finance and perhaps the interest rate you can get...so right now in DFW area I would expect in many cases you will need 30-35% down and 65-70% leverage to cash flow.
We don't have a lot of 2-3-4plex available and what there is seems to generate good demand.
To give you an idea of what I see...new build duplex $425,000 rents about $3200/month $1600/unit in further out burbs.
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John B.
OP
Investor · Keller, TX · Member since 2019 · 76 posts · 62 votes
3y
Quote from @Bruce Lynn:

Cash flow is often a function of how much you finance and perhaps the interest rate you can get...so right now in DFW area I would expect in many cases you will need 30-35% down and 65-70% leverage to cash flow.
We don't have a lot of 2-3-4plex available and what there is seems to generate good demand.
To give you an idea of what I see...new build duplex $425,000 rents about $3200/month $1600/unit in further out burbs.
That seems to be the case with most places outside of the midwest as of lately.
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