Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

158
Posts
32
Votes
Austin Bright
32
Votes |
158
Posts

Financing First Property -- Dallas/Fort Worth Area

Austin Bright
Posted
Hi All. I'm trying to get into rental property investing in Dallas/Fort Worth. I'm facing a common barrier to entry, having little capital (about 11-12K). I'm looking for advice from local investors on the best path to take. 1. I ideally want to get into duplex investing -- I'd have to finance with an FHA loan and live on the property for a year. I am strongly attracted to the idea of renting the other half out to increase my equity at a faster rate than if I lived in a single family home for a year. Then use the increased equity as leverage going forward. However, given my capital situation, the best I could really do with 3.5% down is around 200k (assuming I can negatiote with the seller to cover closing costs). The DFW area doesn't really have duplexes in this price range (unless I want to live in an unsafe area). Is it better to concentrate on single family properties for the first year? If so, the only viable way to substanitailly increase equity in the first year to look for properties that need lots of repairs? Are there any DFW investors out there that can provide feedback? Thanks!

Loading replies...