Why it's hard to find rental properties in Dallas/Fort worth area ?
I am planning to move to Texas this spring from MN and I have been looking a rental properties single family/duplex in DFW area that gives some cash flow. I couldn't find anything available that gives some cash flow especially paying after that high property tax. Is there small investors who has good experience investing in rental properties in DFW area ?
Regards
Arjun
It depends on where in DFW you’re looking. I’m definitely seeing that a lot of single family homes are harder to cash flow but most duplexes and triplexes should
Like so many investments, the cash flowing deals will be found off market. Marketing, marketing, marketing.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Look in smaller markets like Waco, Killeen, Temple. The price point and rents are at a closer ratio.
Keep looking, they are hard to find. Property Tax is a killer around here. I'm in Waco, Texas
I know my bio says Columbus however i end up doing alot of loans in Texas (still licensed)
There are a ton of foreclosures soon to be hitting the market because of layoffs and people buying at the top of the market and their budget.
All that to say keep on keeping on. Marketing like @Guy Gimenez says will help you find future foreclosures and all kinds of other opportunities.
@Arjun P. Strategy is important. Working with an investor specialized Realtor helps too. You have to create a deal, they do not fall of the tree.
Hey Arjun, it certainly isn't easy at the moment with debt being so expensive -- but there are still deals on the market! The recent correction of about 10% in the DFW market has gifted buyers with a degree of negotiation power, so you have to offset the higher rates with a lower purchase price by coming in under market value.
Hey Arjun, I work with investors in the DFW area. Mainly in the northern DFW area. I personally think that is a good spot to get into because there is strong rental demand as well as it is an appreciating area.
I have a couple of properties in the DFW area. They were purchased before the market spiked and the rates followed. If you want to cash flow in today's environment then expect to put down more than 25% or you can try dialing for dollars. I get 2-4 calls a day from people wanting to "pay cash" for my property @ 20%+ below market. You are going to be dialing for dollars with a lot of people that bought the get rich quick real estates programs.
Hi! I own a triplex in Arlington, TX right in the middle of DFW and i purchased it in 2019. I will have to say, todays market is getting harder to find the deals, you might need to get creative with your rental strategy- consider STR, MTR. Also, you may need to put more money down like the other person said in this thread. However, rents are increasing and many of the multifamily units i see on the MLS are currently under rent, so I would get in contact with a real estate agent in the area and see what current rents are going for when analyzing your deals.
Hey Guys, I finally found a property for 350k ( two units , 4 beds 2.4 bath, build 2011) decent conditions in Saginaw. They accepted my offer. I may be breakeven or short for $200-$300 because of Crazy interest rates. I am trying to see if I can write off some of these expenses and make my losses break even from my personal income. Thanks for all your suggestions.