Hello everyone! My wife and I will be moving to the DFW area soon and will be looking to begin our real estate journey. Our ultimate goal, like many others, is to gain financial freedom through real estate. Our primary focus will be buy and hold small multi-family properties and townhomes/condos, preferably value add opportunities. I am an aircraft engineer and very fortunate to have quite a bit of free time with my work schedule. With that, I would like to be as active as possible. So if anyone with similar interests or anyone that has experience in this niche, I would love to get together if possible, maybe buy you lunch, or offer any help I am able to give in my spare time! Need someone to paint a room for free? Maybe run those errands you just cant get to? Let me help free of charge! I look forward to meeting many of you in the future and feeding ideas and energy to one another. Take care!
Hey Caleb, I'm new to this as well but thought I would share some info you might find useful if your looking for areas to invest in DFW.
In Fort Worth there is an area called Scenic Bluff (sometimes referred to as Four Points or River East) that's being revitalized. Long ago the city tried to implement a program for improvement but it was halted due to the crash. Lately though the improvements have started to happen. An investing firm from Dallas has come in and re-done Race Street along with building two apartment complexes and some REALLY NICE town homes. There is also a new Top Golf and some things they are doing to the Riverside Park.
There are still areas with run-downish houses that could be value add opportunities if your willing to put in the work. I think the price-to-rent ratio is pretty good too.
I've had my eye on this place for about 6+ months hoping to start my journey here but now I'm thinking about transitioning to storage units in the area I live. I would have to manage at a distance if I rented in Fort Worth so I'm just weighing my options.
Well, I hope this info was useful for you. I know it might seem weird that I'm sharing this info because you could be my competition in that area one day but hey, someone should reap the benefits! Good luck to you and your wife on your real estate journey.
Welcome to the DFW area.
Feel free to contact with any question on the Fort Worth side.
@Bailey A. I live near that area in one of the apt complexes you mentioned, I'm also seeing a lot of potential there, think it can be Fairmount 2.0!
Hi @Caleb Pulliam !
Welcome to the DFW area! I moved back from Boston because it was so cold and decided to become an agent because our market was so hot, haha.
I grew up here in the DFW area (all over, not just Dallas or Fort Worth).
I live here in the North Dallas Area.
And I'd love to help you with any questions or concerns that you may have as I'm also working to become an investor from an agent. I always look forward to talking about real estate investing - markets, strategies, insights, and etc.
I'd be happy to take you to some of the local spots here, so hit me up when you're ready!
Thank you all for the welcome and advice! I hope to meet some of you at some of the many REI events in the area. We all have similar goals, so my outlook is build the biggest network you can, help where you can, and it will be returned in time. Maybe I find a deal but Im not in a position to buy, I would definitely let my close network know of the opportunity. Hopefully some will have the same outlook. Especially in such a hot market. Good luck to you all and thank you for reaching out!
@Caleb Pulliam I've only been to one multi family meetup in the Dallas area, and it was ran by Kenny Wolfe. Multi family is hella competitive in DFW right now, and good deals aren't found, they are made. With that said you will have to put out there what you are looking for to just about everyone and connect with the top brokers in the area. You can also go to the DFW Reia's or one of the Propelio meetups that be in Grapevine.
Our company has been investing in single family since October 2018. I still work full time, but I know investors in the area who are into commercial, mobile home parks, rv parks, etc.
Let me know if I can help you out in any way shape or form. Looking forward to catching you at a meetup!
@Caleb Pulliam I'm in the same boat as you are, I've done research and even made a land purchase in the last year. I've decided to go with BRRR using multi family and SFH but deals are hard to come by. As @Keritan Shelby mentioned good deals on multifamily are hard to find and those that come up are quickly snatched up so you'll need to be ready to make a decision as soon as you see a potential deal.
For now, I'm learning and mastering the art of getting the numbers right and I hope to start actively looking to buy in the next month.
@Saheed Oseni Its definitely competitive out there! Good luck on your venture!
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