North Dallas Rental Market
Hi all, I am looking to buy a next rental property. I have been searching in the DFW, Miami and Washington DC metro areas. I have seen some really interesting properties in NE Dallas, Lake Highlands, Richardson and the likes. Even though I lived in Dallas for a couple of years, I was not an investor yet so I don't have ground knowledge. Do you consider these areas decent for a 2bed2bath rental prop?
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@Javier A. Batlle I was in same situation as you 8 months ago, thinking to buy condos in 75243 /75231 zipcode ( ne dallas/lake highlands ). I researched and learned several things about these condos.
positives : very cheap compared to sfh in the neighborhood, most of the homes come under richardson school district ( good schools), higher rents /higher cash flow to an investor (compared to sfh), good demand for these condos ( it's very easy to sell if one puts the right price to a condo with good condition.)
Negatives:
poor or average hoa management.
Low income tenant base ( can be offset by section 8s, or good screening during leasing )
I started buying with one condo 8 months ago, now I own 6 condos in those complexes. I guess my positives dominated negatives. It's just my research and understanding. Might be other risks involved. So far I am positive on the ones I owned in cash flow perspectives.