Is house-hacking still feasible in DFW?

Question

Long time learner but finally making the jump into doing my first deal! I'm in the DFW area and fully realize how hot the market is around here right now. I've been analyzing deals daily and haven't come up with anything yet. If I'm looking to house hack to help save up money for a down payment on my next deal, am I wasting my time trying to live in DFW? I'm not overly attached to the area and I'm willing to relocate if that's what it takes to be successful in real estate! Thanks in advance!

Peter M. · Answer

House hacking is a pretty general term. It can mean a 2-4 family where you live in one and rent the others or it could mean you do a live in flip. If you are only looking on the MLS, the latter is going to be easier. 2-4 units properties are gobbled up pretty quick. Find areas you want to live, check tax records for those that have absentee owners and try to get in contact with them. Good luck

Ryan Blake · Answer

@Brittany N. It is very feasible but you have to want to live in an area that has multi family. There are some nice areas that have this zoning but a majority of MF zoned areas are in rough parts of town. It will all come down to what you feel comfortable with. I think to really make it enticing, you would need to get a three or four-plex.

Brittany N. · Answer

@Ryan Blake Thanks so much for your advice! I'll have to expand my search to include 3 and 4 unit properties to see if I can stay away from some of those more questionable parts of town!