All Forum Posts by: Matt Solis

 Thanks for the shout @Denver McClure! @Duy Xuan Do, your logic makes sense on the house hacking front, but I would really encourage you to explore other types of rental strategies, such as mid term renting or rent by the room. You'll be able to get properties in better areas and also have better cashflow. For example, the duplex you mentioned in Fort Worth is in a pretty rough area, and you'd only be getting $1750 per side which isn't going to approach the 1% rule. Where as you could buy a nice 3/2 in Carrollton for the same price, be in an awesome area, and rent out the whole house for $5200 as a mid term rental.

Reach out anytime if you want to talk shop.

 Thanks for recommending me @Denver McClure! @Chase Wright, echoing what others have mentioned already, house hacking is the way to go for your first few deals. Specifically, I recommend purchasing a single family house with as little money down as possible, and converting the property to a rent-by-the-room investment. This is the easiest way to achieve positive cashflow, and there are a fair amount of deals that make sense out there. 

Thanks Denver! Yeah SFH is definitely the way to go for house hacking in DFW. ADU's certainly help, but I've seen some awesome returns for clients without them. It's all about finding the right parking, floor plan, and neighborhood to make it work. Focus on at least 2200 sq ft under 350k, in B or C class areas. Try and find houses that you could convert to a 6+ bed house. I'll send you a DM with more info Trenton.

 Thanks for the shout Denver! North Oak Cliff, Cedar Crest, Garland, and Far East Dallas would be the areas I would look at. Send me a DM, would love to talk shop

Thanks Denver! I'll send you a DM @Dillon Becken, I can get you in touch with the right people to get you started.

I recommend MYND.

https://www.mynd.co/property-m...

 A lot of people have that mindset and don’t mind having negative cashflow for a couple of years. If you have enough income coming in, cashflow is not a big deal to you, and you’re really just parking your money in the asset for the appreciation. 

For other investors, they really can't afford to drop large sums of money for an appreciation play, and will seek out the opportunities with a better CoC return.

Most deals on the MLS that don't need work and are rent ready are gonna break even at best. That's just the reality of the DFW market right now. You either need to get creative with how you are going to rent the property (rent by the room, short or mid term rental), or you need to buy something that needs work at a discount, then add value to the property and increase rents.

I think they will creep down along with inflation 🙂 in the 5s soon!!

What's up Tro? That book totally changed my life. Brandon really knows how to fire up his readers!