All Forum Posts by: Anderson Schulle

You will find duplexes in Fort Worth starting in the 150s and up. Renting for around 800 each side. It’s getting more difficult to find these at that price range. Off market of course. MLS will be much higher. Fourplexes in Tarant County (Fort Worth and surrounding area) will start in the 250s and up. Renting for 700 or more each unit. Sometimes you find a distressed seller selling for less. But it’s getting harder. And on MLS, prices are at least 20-30% more than that. With high competition because more eyes see those compared to off market deals. We have also bought duplexes in Indianapolis. You can get those starting at 40-60k. But rents will be in the 500-600 range per unit. Haven’t had success with fourplexes in Indy yet.

Most likely you will have to pay way more than 225k to get a property that is in an area with a vibrant nightlife in DFW. Whether on the Dallas or the FW side. If I were you, I would pick something in a really good school district, with quick access to DFW, under the 200k price range, but not worry too much about the nightlife factor. Mid cities and north Fort Worth puts you in a 15-25 minute drive to the airport. And the express lane give you that extra boost if you need to get there faster during rush hour. And for nightlife, you can always get an Uber. And the distance won’t be a factor since traffic is much lighter later in the evening. From a rental perspective you will have a property that will always rent quickly. Keep in mind that you will reach far more interested people in a family friendly neighborhood than in a hip, close to nightlife area that appeals more to singles. And from an appreciation standpoint you will have something in your hands that will gain in value even faster, because homes under 200k in good neighborhoods are slowly becoming extinct in DFW. Good luck!

Hi Eric. On the MLS it will be close to impossible to find anything with a good ROI. And while you can always try and offer 70-80% to see what happens, the truth is that these are usually selling 100-110% of asking price. We recently sold a fourplex for a client on the MLS and had 3-4 lowball offers, as well as 6-7 full price or above asking price offers. All within 2-3 days of listing. Honestly, off market is the way to go. Even with single family homes. Typical going rate for off market properties is about 85% in DFW. And even then, some wholesalers oversell the ARV and undersell the rehab expenses. And while there can always be rehab surprises, you should still come in under full price ARV with an off market purchase.

Congrats Jeff. Your target investment areas are quite broad. How are you currently finding properties? Wholesalers? MLS? Do you manage yourself even in remote areas or do you work with property management companies?

Welcome Louis Ramos! I myself moved from the Midwest to the Dallas-Fort Worth area almost 4 years ago, to invest in this market. Since then I also started a property management company and we provide a service to out of state and out of country investors who want rentals in this market. We are about to close on a fourplex for another investor from California. I would be happy to give you a tour of the area in person or just talk over the phone to answer questions you might have. Happy investing!

I'm an investor in DFW and also own a property management company that sources and manages properties for out of town or international investors. 76104 is slowly becoming better over the last 3 years but is still on a street by street case area. I periodically drive that area just to keep a finger on the pulse. There are better neighborhoods out there where you will find cash flowing duplexes with better returns. Especially if you can buy them off-market. We have about 9 duplexes in the 76133 zip code. Rents have gone up over the past years from 750 dollars to 950 dollars for a 3 bedroom duplex. But it's getting harder to find them at a good price. Haltom City also had some nice pockets with duplexes. We have 3 in that area. They are not the best school districts but also not the worst. And we have been able to get good tenants for these units.

Good to know, @Brian Person

Thank you @Robert Ellis! I look forward to meeting with you while here.

Originally posted by @Ryan Mainwaring:

Hello Anderson,

Welcome to the Columbus Market.  Columbus is a great real estate market for investors like us.  Private message me and we can set up a time to meet.  Look forward to hearing from you.

 I appreciate that, Ryan. I sent you a PM.

Originally posted by @Haydn Zeis:

Hi Anderson,

I work for Parker Realty Associates.  One of our specialties is investing and working with investors.  I'd like to schedule a meeting with you!  

 Thank you Haydn. I reached out to you via PM