All Forum Posts by: Jing Lin

Hi Warren, I've been wanting to house hack in the DFW area as well. Here's a link to a website that lists a lot of the current multifamily properties, duplexes, triplexes, and quads.  I believe it's a blog kept up by a local realtor.  

http://investdfw.blogspot.com/

Hi All, I'm a real estate newbie in Dallas hoping to house hack a fourplex. I found a recently updated property that's asking $400k. It has two 2bed1bath units and two 1bed1bath units. The property is located near an up and coming neighborhood with a large commercial development being built. However, it is still predominately working class minorities who live there. 

I am hoping to finance it with an FHA loan and live in one of the 1bed units. The rental income and expenses are listed below.

Annual rent adjusted for vacancies: 39,000

Annual Expenses: 16,500

      Insurance 2,500 Taxes 6,000 Utilities 4,000 Maintenance 4,000 

NOI: 22,500

Annual Mortgage & PMI: 22,000 + 3,300 = 25,300

Cash Flow: -2,800 

Cap Rate: 5.5%

I've already made an offer of $320k that was rejected. I am currently wondering if I should make a higher offer and at what amount. 

Hi Peter, 

I'm a CPA that recently moved from NYC to Dallas. I'm looking to house hacking four-plexes in Dallas as well. From what I learned, they are mostly in the Oak Cliff or East Dallas areas.

The population in those areas are mostly blue collar. In my opinion the rents are very low compared to the asking price of the properties. There are a lot of new apartments being built near the Dallas downtown area which may also affect the rental rates in the near future.

Hi Tyler,

Thanks for reaching out to me. I'm currently working at a big 4 public firm. That's great that you're studying to be a CPA, and I understand that tax isn't for everyone. 

How was the process of rehabbing your home? Congratulations on the upcoming close!

I'm currently shopping around for my first mortgage. I'd love to hear more about the services that you can offer. As I mentioned before, I'm working on getting 5 properties. Could you please message me your contact info?

Thanks!

Jing

I'd like to thank everyone for the warm welcome! 

Sydney, it's a pleasure to meet you. From DC to Cali, that's a big move! I hope everything is going well. What type of investment are you looking for?

Lucia, I've been living in Uptown since February, and I specialize in Financial Services Tax. I'd love to join a RE team. Since I am new to RE Investment, one of my goals is to learn more about RE tax issues. 

Chuck, thanks for the meetup link. I just signed up for the next event in Uptown. I look forward to meeting you and networking with other like minds in Dallas. 

Thank you for the great advice, Paul. I will definitely reach out to my local REIA clubs and study the resources on BiggerPockets.

Hi everyone, 

I recently moved from  New York City to Dallas. I am new to real estate investing and have started listening to BiggerPockets podcasts. I would like to focus on purchasing 3bed/2bath single family properties for lease and hold investment. My goal is to acquire five properties in the next five years. 

I am a tax accountant working at a big 4 accounting firm so a large chunk of my time is blocked off by tax busy seasons. Originally I was hoping to purchase properties that are in move-in condition so that I do not have to spend the time rehabbing them. However, after running calculations I've realized that the return on my investment would be not as good. I would like to purchase a short-sale/foreclosure/auction property to get a better return, but I'm not sure how difficult the buying process would be. 

I'd love to meet and network with other investors in the DFW area. If anyone is familiar with the Dallas RE market could you please let me know about what your experiences and thoughts are regarding rental real estate? 

Looking forward to starting my investment adventure!

Jing