Investor · Dallas, TX · Member since 2018 · 254 posts · 47 votes
Good evening members,
As many of you have seen, the DFW market area is booming with new construction which is causing a lot of old "stay away" neighborhoods to be gentrified.
A lot of these suburbs are becoming very popular for both the young and old generations.
That being said, I wanted to ask for those of you who wholesale or invest in the DFW market what suburbs/zip codes are you guys considering now that you didn't consider before AND which are some places that you are still a "NO WAY JOSE" mentality.
The reason why I am asking this is that I am starting to learn more about the DFW market (I am not from here). Learning this market would then assist me in finding off-market properties for my investors.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
6y
@Daniel Mendez just about any neighborhood valued at $175k or under are good investment neighborhood and rent at a good clip in Dallas and Fort Worth. However, there have been some recent changes to some neighborhoods in East/Southeast Dallas that might change most investors view towards them specifically. @Kyle Mccaw might be able to speak to this better. But other than those neighborhoods specifically, everything else is great at that price range and under.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
6y
@Daniel Mendez just about any neighborhood valued at $175k or under are good investment neighborhood and rent at a good clip in Dallas and Fort Worth. However, there have been some recent changes to some neighborhoods in East/Southeast Dallas that might change most investors view towards them specifically. @Kyle Mccaw might be able to speak to this better. But other than those neighborhoods specifically, everything else is great at that price range and under.
I am eagerly waiting for the gentrification of 75217 - Down town area. Its been hard to get a long term consistent tenant in this area. I am open for regular or section 8 renters. In the last 3 months, I have had to return security deposits to 2 renters who no longer wanted to be in the house because of frequent break-ins in the neighborhood. I am an OOS investor and my SF house in this area has needing a lot of time and $$
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
6y
Nothing is ever "no way jose" (not sure if there's any national origin implication in your phrase) it all depends on your investment criteria, your cash return vs. dealing with tenants. Everything is relative and no one can predict your needs.
That said, I really like Garland as a blue collar, but rent appreciating city.
Rental Property Investor · Fort Worth, TX · Member since 2019 · 34 posts · 13 votes
6y
@Daniel Mendez I would recommend looking into more of the Dallas Mid Cities area(Irving, Euless, Bedford, Hurst, Arlington, and Grand Prairie), these properties are slowly appreciating but are still cheap enough to where if you get a good deal you will easily hit the 1% rule on rent.
Specialist · Dallas, TX · Member since 2017 · 368 posts · 102 votes
6y
@Daniel Mendez I tend to focus on outlying markets, they have cheaper land cost and better zoning regulations for building high density affordable housing.
Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
6y
@Daniel Mendez
I’m grabbing older beat up homes in Arlington, Grand Prairie and ft worth. Tons of rehabs going on which is improving these hoods immensely. I’m ok buying old 1950’s homes for under 140k and renting them out for 1400-1600/month. That’s my sweet spot. Huge demand for rentals under 1600/month. Over that amount and the demand falls off. I need to get at least 1% of the purchase price in rent in decent areas that are close to the downtowns or mid city areas.
Rental Property Investor · Arlington, TX · Member since 2016 · 706 posts · 611 votes
6y
If you're looking for something cheap with great tax benefits. Check out the 7 empowerment zones in Dallas. I know Red Bird & West Dallas are apart of the empowerment zone opportunity tax zones. There's 5 other but if you google Dallas empowerment zones they will all come up.