Updated almost 7 years ago on . Most recent reply
Purchased 7 SFRs in the DFW area late 2017.
Investment Info:
Single-family residence buy & hold investment in Dallas.
Purchase price: $700,000
Cash invested: $140,000
Purchased 7 SFRs in the DFW area late 2017.
What made you interested in investing in this type of deal?
The reason my wife and I started with the single family homes was their accessibility particularly through online listing services. We want to have exposure to real estate investing and felt this was a approachable way to gain experience before attempting larger projects.
How did you find this deal and how did you negotiate it?
We used an online listing services.
How did you finance this deal?
Conventional mortgage 30 year fix rate. 80% Loan to value.
How did you add value to the deal?
Unfortunately no, we have not made any significant forced equity in our homes. The concept of Value-Add was not goal we were trying to meet at the time.
What was the outcome?
Currently we have no vacancy and each property is cash flowing an avg of 100$~150$ a month. Additional there has been appreciation in the market, so we have seen between 5%~10% increase in market value from our purchase price.
Lessons learned? Challenges?
We want to pursue projects that have a potential upside through value-add mechanisms and build equity.
Both my wife and I are out-of-state. For us the greatest challenge is networking and market exposure.
Most Popular Reply
@Andy Webb - Thank you. allow me to clarify a little. These were not packaged properties each was bought separably. Here are the ZIP codes we own in. (75232, 75217, 75241, 75061 and 75137).
Currently we have a property manager local to DFW we enjoy working with.