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Daniel Chocron
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Looking for a multifamily property in DFW market

Posted Jan 5 2022, 03:39

Hello BP Family! 

My name is Daniel Chocron. I am currently working as a civil engineer in a highway project at Waco Tx. When I first moved to Waco, I decided to buy a house here and do house hacking to avoid paying rent. I've been living in the house for a little over a year and half now. The house is a 3 bed 2 bath. I was able to rent the other two rooms to a couple of my co-workers. So far the house is doing great as I have been able to live rent free while paying the mortgage, and getting a lot of appreciation. 

My boss told me he was going to send me to another project in the DFW area within the next 6 months. This time I am looking to go into the next step and buy a multifamily property to live in one of the units and rent the rest. I am thinking on re-financing my current mortgage to do that for several reasons; the interest rates are low, I have a lot of equity due to the appreciation which will allow me to drop my PMI as I did a conventional loan with only 5% down, and also get some money out to invest in the next property.

I am reaching out to the BP community to get some guidance into where to start my search. DFW is a big market and I am not sure where to even begin. Ideally I would like to buy a duplex-fourplex that generates cashflow. Also, any recommendations of a good local agent would be greatly appreciated as I need to build a team to start my RE journey. My goal is to achieve financial freedom through real estate (of course the sooner the better) so any connections, advice or recommendation that would help me achieve this goal is welcome! 

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