Newbie out of state investor to Dallas Forth Worth (DFW) Area

[Rand Ng]

Hi BP community!

I've been lurking for a while and wanted to introduce myself. I currently live and have a 3 doors in CA but am looking to branch out due to the inability to cash flow anymore. I narrowed my search down to the DFW area and wanted to reach out to network and get tips. My plan is to purchase a duplex and house hack in DFW for the next year while I learn the area.

What I'm looking to achieve:

1. 3 doors within the next 12 months without buying a 2nd job. I'm ok with upfront sweat equity but would like to automate over time.
2. Cashflow with a chance to appreciate as I plan to hold long
3. Learn how to out of state BRRRR
4. Build relationships with local: Investors, Agents, Property Managers, Contractors, Lenders, and Handymen 

Thanks for taking the time to share your thoughts.

[Justin Tsoi]

Hi @Rand Ng,

I'm also in search of a duplex/MFH in the area. Although my real estate journey began only 2 months ago, I've been researching the area thoroughly for opportunities. Here's what I've found so far in relation to duplexes:

1. Areas around Plano, near UT Dallas, have fairly high-end duplexes if that's your market. You can find duplexes anywhere from 3br/2bath or 4br/2bath at the $325k-$450k range. Great area, just out of my price range personally. It's difficult to find nice cash flowing properties, but not impossible. Appreciation is a good play here.

2. Fort Worth - South and East side of downtown FW. Large amounts of duplexes available, not in the greatest of neighborhoods. You're looking at 1br/1bath or 2br/1bath duplexes here in the $100k-$225k range. Cash flowing opportunities are here, you'll just need to evaluate the pros/cons yourself.

3. Irving/Arlington - These 2 cities are located between Forth Worth and Dallas. I decided to bundle these together since they're more or less in the same location. Irving has a large population of Spanish people (source: I use to live there) with duplexes ranging from $160k-$225k. Arlington is a little higher end than Irving, with ranges from $200k-$325k. 

4. Garland/Mesquite - Located on the east side of Dallas. 20-30mins from downtown Dallas, these cities have fairly affordable duplexes. I'm not too familiar with the area but have seen opportunities around $250k.

I hope this information was helpful! Full disclosure, I'm not a realtor nor am I in any way experienced. This is just the results of living in DFW and research on what I've seen in the last 2 months. If you're interested in connecting, let me know! We can definitely learn/leverage from one another.