Arlington, TX · Member since 2018 · 23 posts · 13 votes
Hello All,
I would humbly ask for someone to double check my numbers on a potential deal I am working on. (Sorry if this is not the proper thread, this is my first post, other than new member post).
Details:
Not on MLS
Arlington, TX
4 Bed, 2 bath
1875 SF
Built in 1981
Class A-/B+ neighborhood
asking price - $200,000 (I estimate it is truly worth $220,000).
Good schools close by.
I will self-manage.
My numbers:
Thanks! Let me know your overall thoughts of this deal in today's climate.
Specialist · Carrollton, TX · Member since 2016 · 145 posts · 100 votes
8y
I advice NOT to buy SFH that rents close to 2000 for first investment property. You have fewer eligible renters at that price compared to sub 1200 rental. if you look hard, you should be able to find duplexes for 200k close to Arlington in cities like Forest Hill, Burleson and South Fortworth. You will make 1000 on each side which is still 2000, but you have clear upside to go up to 1400 in 2-3 years. It's unlikely you can rent your SFH for 2800 2-3 years from now.