Real Estate Agent · Waxahachie, TX · Member since 2022 · 40 posts · 32 votes
I'm househacking in OH right now, moving to TX in 2 weeks and looking to househack there as well. What's with all these "Multi-Family" properties on the MLS, but then you click on it and it's just one side for sale. I am confused. Is Dallas a tricky market to househack in a SMF? Any advice?
Financial Advisor · Dallas, TX · Member since 2018 · 659 posts · 479 votes
2y
Hey @Trenton Brown, unfortunately you'll see several multi-families that are incorrectly listed on MLS, so you'll need to look closely. I've househacked several properties in Dallas and I still believe it's a great market to househack if you can find the right deal. You might want to expand your scope to search for SFH+ADU, and live in the ADU portion. They are really popular in the older neighborhoods surrounding Dallas. Nearly a half dozen of my clients are looking for their next househack or MFH in DFW right now, so just a piece of advice....move quickly!
I'd suggest speaking with an agent who also househacks. @Matt Solis can help!
Financial Advisor · Dallas, TX · Member since 2018 · 659 posts · 479 votes
2y
Hey @Trenton Brown, unfortunately you'll see several multi-families that are incorrectly listed on MLS, so you'll need to look closely. I've househacked several properties in Dallas and I still believe it's a great market to househack if you can find the right deal. You might want to expand your scope to search for SFH+ADU, and live in the ADU portion. They are really popular in the older neighborhoods surrounding Dallas. Nearly a half dozen of my clients are looking for their next househack or MFH in DFW right now, so just a piece of advice....move quickly!
I'd suggest speaking with an agent who also househacks. @Matt Solis can help!
Hey @Trenton Brown, unfortunately you'll see several multi-families that are incorrectly listed on MLS, so you'll need to look closely. I've househacked several properties in Dallas and I still believe it's a great market to househack if you can find the right deal. You might want to expand your scope to search for SFH+ADU, and live in the ADU portion. They are really popular in the older neighborhoods surrounding Dallas. Nearly a half dozen of my clients are looking for their next househack or MFH in DFW right now, so just a piece of advice....move quickly!
I'd suggest speaking with an agent who also househacks. @Matt Solis can help!
Thank you so much Denver. Super helpful! I will connect with Matt
Hey @Trenton Brown, unfortunately you'll see several multi-families that are incorrectly listed on MLS, so you'll need to look closely. I've househacked several properties in Dallas and I still believe it's a great market to househack if you can find the right deal. You might want to expand your scope to search for SFH+ADU, and live in the ADU portion. They are really popular in the older neighborhoods surrounding Dallas. Nearly a half dozen of my clients are looking for their next househack or MFH in DFW right now, so just a piece of advice....move quickly!
I'd suggest speaking with an agent who also househacks. @Matt Solis can help!
Thanks Denver! Yeah SFH is definitely the way to go for house hacking in DFW. ADU's certainly help, but I've seen some awesome returns for clients without them. It's all about finding the right parking, floor plan, and neighborhood to make it work. Focus on at least 2200 sq ft under 350k, in B or C class areas. Try and find houses that you could convert to a 6+ bed house. I'll send you a DM with more info Trenton.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
2y
@Trenton Brown yeah weird phenomenon here in Texas where we sell 1/2 duplexes. One building-two sides, often separately deeded and the sides sell separately. So technically I guess it is multifamily, but sold as single family. Where are you looking to move?
Due to low rents and high sales prices, 2-3-4 plex normally doesn't work great for house hack around DFW. Best option is 4-5 bedroom house, depending on your price range. Live in one room and rent the rest. On 2-3-4 plex it is long term play. Rents on the extra units likely will not pay for your mortgage and you'll need to pay full rent on the unit you occupy. So for the most part on MF the idea of living for free was probably 10 years ago or more.
@Trenton Brown yeah weird phenomenon here in Texas where we sell 1/2 duplexes. One building-two sides, often separately deeded and the sides sell separately. So technically I guess it is multifamily, but sold as single family. Where are you looking to move?
Due to low rents and high sales prices, 2-3-4 plex normally doesn't work great for house hack around DFW. Best option is 4-5 bedroom house, depending on your price range. Live in one room and rent the rest. On 2-3-4 plex it is long term play. Rents on the extra units likely will not pay for your mortgage and you'll need to pay full rent on the unit you occupy. So for the most part on MF the idea of living for free was probably 10 years ago or more.
Thanks Bruce. Thats what i'm finding out as well. Might need to look into something a little more creative in the meantime. I will be married by EOY and i don't think we'd be down to live in a house with 3 roommates haha.