All Forum Posts by: Harrison Sharp
Harrison Sharp has started 22 posts and replied 316 times.
Post: New to DFW - Multi Family Investor
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
bring your cash! DFW 2-4 is very hot we have a very limited supply here. FHA offers aren't competitive at all and you probably won't get one of those. Good luck on your search it's a great market and people who have owned here for awhile are seeing incredible equity increases.
Post: Looking for advicefor my first House Hack
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
Quote from @Phyo Sone:
Quote from @Dillon Cook:
What price range are you looking at? House hacking a multi is tough right now because there's a lot of competition and no supply. Finding something that you personally want to live in and getting a deal for it is impossible. Would recommend the SFH route for the areas you want to be in.
Hi, I am not the original poster. However, I have been looking for a duplex in the Dallas, Texas area for the last couple of months and your comment on finding a multi-family to house hack has been true for me. Multi-family in areas that I would personally like to live in has been hard to come by and when I do, the property doesn't cash flow with both sides rented out. Because of this, I am beginning to consider SFH but I am not sold on the idea yet since this is will be my first home purchase and I have been stuck on getting a duplex as my first home to kickstart my REI. Could you please explain why you would still recommend getting an SFH? I would love to learn from someone with more experience on this since I might be missing something. Thanks!
rent by the room can generate higher yield than a duplex because in some cases you don't have to get into a crazy bidding war and compete with cash. I just helped a client get into a single family that was on market for 21 days that is a 4/2 which he will add a bedroom to make it 5. No crazy appraisal waiver or over list and we got almost 20k in concessions on top of that. If what you are wanting to get into doesn't fit your returns then modify. Generally singles appreciate better than duplexes anyways because they have a bigger buyer pool.
Post: Any opinion on the market in Houston for multi-family investing?
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
Quote from @Varouj Asdourian:
Hi. So I am looking into investing in a multi-family property in Texas and I am looking at both the Dallas metro area and Houston markets. In my research it appears that the Dallas area may be for popular and prices are a bit higher but the rents appear to be average. The Houston area seems to have a bit more inventory with somewhat lower prices and the rents appear to be about the same, resulting in greater cash flow. I am looking at a 4plex in the Stafford area, which is a suburb of Houston. Price is good and great rate of return as well. I am just wondering if anyone can give me any insight on the market in Houston for long term investing. How is the economy doing? Is job growth stable? I am looking at this as a long term investment and any insight you can give me would be appreciated.
Thanks.
You can’t go wrong in any of the major metro cities in Texas
Post: House hacking as a grad student?
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
I wish i bought and house hacked when i was in college even though i didn't have the means to do it. I should have figured out a way though. If you can do it, it's going to pay off in the long run. Your biggest issue will be getting an FHA offer accepted in DFW for multi family.
Post: Agent Needed. House Hacking in Dallas, TX.
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
I have done 2 house hacks myself when I first got started in investing and have helped around 20 new house hackers in DFW get into their first property! Would love to help you out.
Post: Truck driver - Rookie questions
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
PM for property manager rec in DFW and work on getting your credit scores up! Buying new builds is a great way to reduce repairs but you will be paying top dollar and probably won't be cash flowing.
Post: ADU in the Dallas-Fort Worth area
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
Arlington and Fort Worth have them! I've seen a few really good ones in Fort Worth too.
Post: ADU in the Dallas-Fort Worth area
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
I’ve got one in McKinney and ARLINGTON. See them in Arlington a decent amount
Post: ADU in the Dallas-Fort Worth area
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
The best way is going to be for you to buy a property with an ADU already built on it. Getting them permitted is almost impossible. Or you can always just build one without permits, had a client who did that. 2 of my houses in DFW have ADUs they're a great way to still cashflow here.
Post: ADU in the Dallas-Fort Worth area
- Real Estate Broker
- DFW
- Posts 337
- Votes 263
I wouldn't build one... it's going to cost too much. I bought two properties in the last year and a half with ADUs on them. They're out there, you just have to look for them and be willing to reduce your standard of living as most of the time they aren't in the hip or cool areas of town.