All Forum Posts by: Daniel Root

Thanks, Adam. I met both of them a couple of months ago at a BiggerPockets meet up for DFW. Hopefully they have some insight!

Hi all,

Was curious what the community (especially the DFW community) thinks about the area just west of downtown Dallas which is across the newish Margaret Hunt Hill Bridge. There seems to be quite a bit of commercial development there with a handful of new restaurants opening as well as a new brewery. To me it seems like an area that is primed for resurgence. There property in the area directly surrounding is quite cheap (50-80k range) so I was curious about what people about buying and holding SF or small MF properties to rent in that area for the next 5, 10, 15 years. Also the nice area of Stephens and Kessler Park is just south of this part of west Dallas which means people are willing to live in the area if the neighborhood makes a come back. Any thoughts or advice are greatly appreciated!

Welcome to the site, Grant!

My first advice would be reading through the BP Beginner's Guide to Real Estate Investing as it has a lot of great information.

Have you looked at the comps in the neighborhood for the two properties? It is always nice to build in some instant equity with the 70% ARV rule even if you are a buy and hold type of guy. Might be able to push it to 75-80% ARV since you will be renting and may be keeping them for a long while.

Definitely will be there! Thanks again for getting all this organized Alex and Kathy.

@Alexander Bustos Thanks for the tips. I need to get a little more guidance I think before sending out mailers but I have thought about it and will be looking into it.

I was at the last meet up and really enjoyed. I plan going to the next one to meet and network with everyone I didn't get a chance to meet at the last meeting. Looking forward to seeing you there and meeting you formally.

Congrats, that is definitely a good location in Dallas to get a property to hold for the future!

I would be concerned about their not having paperwork for the first repair but if they have paperwork for the second repair and you have someone who can verify that it was done well then that would go along way in alleviating my reservations about the lack of paperwork from the first repair. Just my 2 cents.

How much was the total deposit? It seems reasonable to me to make them at least pay for the carpet. This coming from a responsible tenant perspective. I am not a landlord so take that for what it is worth.

That's a great idea. Just need to find some friends in the areas I am looking to invest and that aren't too hot in Dallas.