All Forum Posts by: Karen Oduwole
Karen Oduwole has started 1 posts and replied 3 times.
Post: Help with 1st investment property in DFW area
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Originally posted by @Mindy Jensen:
@Karen Oduwole, if you're approved for $200, and houses are generally more than $200, perhaps you should look out of state. Don't buy a property just to buy a property, run the numbers and make sure it makes financial sense.
Thank you. This will be our first investment property so we want it closer to learn with it.
Thank you
Post: Help with 1st investment property in DFW area
- Posts 3
- Votes 0
Originally posted by @Lucia Rushton:
@Karen Oduwole. Just helped an investor buying a property in Keller. We started in the low 200s but when you see what rent you get - you’ll be cash flow negative. Need to look further afield. Your agent should be able to guide you.
In my opinion many duplexes under $200K require work - are you prepared for that ?
We are ready to work on duplexes but considering costs also not to exceed 200k by a large margin. What area do you recommend for cash flow please?
Thank you
Post: Help with 1st investment property in DFW area
- Posts 3
- Votes 0
Hello,
I am newbie in the Real Estate Market & looking to start out in real estate with rental property around dfw area but have been unable to find properties within our scope.
We want a rental property that's not too far from our home in Keller so we are looking in the DFW area. We are looking for SFR or duplex but preference is duplex.
We have been preapproved for 200k & working with an Investor Realtor for 3 months now but most SFR around Keller are well above 200. Most duplex we see around Fort Worth within our range and below are run down and we are scared of chewing too much with construction costs.
Looking for ideas on what neighborhoods to expand our scope to in the dfw area for good rental property. Budget is under 200, duplex or SFR, need cash flow and some appreciation.
Lastly, does the year of construction matter? We have seen a couple of old houses in good neighborhoods in Keller for $210 but not sure if it makes good business sense to buy an older house in new neighborhoods. What are the chances of renting at the going rate in the neighborhood if the house is older?