All Forum Posts by: Peter R.

@Joel Owens

@Joel Owens

@Joel Owens

I'm not sure what's feasible, I'm still trying to feel out the landscape. I will say that in the little time I've had here to do research, I came across something called the "two percent rule," which basically states that the total gross rent should be about two percent of the purchase price of a building. From what I read, the numbers breakdown seemed to make sense. If my budget is 400,000 dollars, then two percent of that is 8000 dollars. In a quad, that would mean 2000 bucks per door is what rent would need to be. If I'm living in one of the units, then I would subtract 2000 bucks from that (one door) so the gross would have to be $6000 to meet the two percent rule on a $400,000 investment.

Welcome, from what I've seen so far Dallas is pretty well represented on this site.

@Account Closed

Ideally, I'd like to find a multifamily that I can also use as a primary residence for tax and financing reasons. If I can find a quad in the right area where the numbers make sense I'd like to be moved in by year end if possible.

@Ciera L.

Thanks for the help, I'll check them out.

Hello, Could you please help me locate a good real estate agent in Dallas who can help me find some investment properties? I'm specifically looking to do rentals in the A or B areas of the metroplex, need something where the gross rents will total about $8,000. and my purchase price range is around $400,000. Thanks!

Hello, I'm Pete from Dallas, and I'm glad to have found this site. I am a 33 year old rental products manager in the oilfield. I have no background in real estate. What sparked my interest in real estate investing was the unfortunate fact that I consistantly lose money betting on the stock market, and I'm looking for a better place to put my savings to work. I have a good friend who makes a living flipping houses, and he suggested that with income and my background in managing rental businesses that I could do pretty well purchasing small rental properties. I am here to research that possibility.