I’m a new investor currently living in Los Angeles and due to price restrictions am looking to broaden my search when it comes to real estate investment. I have a sister who lives in Dallas and have been many times, so I am loosely familiar with the area. The growth both of the city as well as the rental market intrigues me, but I’m hoping someone with a bit more boots on the ground experience can give some insight into what that market is truly like. I am interested in a cash flow generating rental property, and from my reading on BP it seems like that would lean toward a single family property in the suburbs outside of the city as Condos in this market make it difficult to achieve net positive cash flow. Any feedback on the market in general for these goals, areas to look in or specific nuances to this region is welcome!
Thanks in advanced!
I am a newbie to real estate, looking to become a scout or wholesaler for an area that is 60 miles NE of Dallas. It is a small city that is rapidly growing. The area is near a large lake, Cedar Creek Lake, and there are several available properties. One is a triplex that has my interest, price is right, the location is questionable. But it is fully occupied. So yes I would say Dallas suburbs is a good investment area.
I think you are on the right track. Cash flow will depend on what you put down. Minimal down, probably won't cash flow, but maybe 30% down or more does.
Hey @Dylan Poltorak , Dallas is great and I have a realtor friend that can land you that cashflow. Feel free to PM and I can connect you. Hopefully you two would be a good fit.
Sounds like you have done your research. As a full-time realtor and investor, Dallas is a great place to be in the real estate business. Our market has continued to thrive even in a pandemic. There is a great deal of competition due to the backlog created by the previous recession. We have experienced incredible appreciation over the last 5-7 years. While cash flow is not easy, if your expectations are reasonable there are certainly deals to be had. It also helps to be first.
I agree with other posters here. I've been researching the Dallas market for a month now and there's potential cash flow in the suburbs/smaller towns. Dallas is growing that's for sure!