All Forum Posts by: Moe Sidd

Hi @Sahar Brown, welcome to Dallas!

It would be helpful to know what asset class you're looking into and what strategy (long-term, mid-term, short-term, SFH, multis, condos, etc.)? That way, an agent with experience in those areas can help you the most.

I do have experience with condo units in Dallas, happy to dive into specifics if thats something you're looking into.

Cheers!

Some good side hustle ideas here with doordash/uber/lift and getting a roomate. It's a gig economy now and people are making money doing pretty much anything. Babysitting, cat/dog sitting, house sitting, party decoration (balloons, bounce houses, etc.), fitness training, home cleaning, christmas lights, the list goes on and on... If you know how to cook, meal prepping and catering is huge too. 

You could grow this into a business and automate to make it more passive eventually with employees doing the work. To have something truly passive and lucrative at the same time, you'd need to have a substantial amount of money invested to fund your living expenses. 

Like others suggested earlier it might be worth selling the place and putting that money in a safe brokerage retirement account and let it grow there, versus the headaches and loss of money you're experiencing now. 

Hope things get better for you soon!

@Jason V. not sure about your market specifically but rent prices might have slightly dropped from previous years due to increased competition and lower budgets people have due to a tough job market 

@Caleb Brown agree that condos wouldn't make sense in the Midwest. They'll be almost the same price as houses with a lot more expenses. Condos are good to get into more expensive markets where a house would be very expensive.

@Jules Aton haha Ohio is the best!!

@Kevin Lee,

15% up-charge doesn't seem too bad. It would be nice if the $75 could go towards the bill if you choose to agree to the quote, but I wouldn't say its horrible either way. You definitely pay a premium due to the upcharge PMs charge for repairs, as that's actually how they make most of their money.

@Jesse Paxton, I think with enough leverage the 1% rule won't cash flow here in DFW and probably hasn't in a while. Like you mentioned high interest rates, PITI, low rents, taxes, etc. make this nearly impossible.

The 1% rule still works in the sense that you could buy a $100k condo and rent it for $1000/month, but does it cash flow is a whole different conversation. 

My advice is to stick to Dallas for long-term buy-and-hold appreciation, head to the Midwest for solid cash flow (Ohio, Michigan). Also, if you're going to invest in Dallas, have as little leverage as possible, as it'll eat up any cash flow.

Hi @Alex Macias, 

Welcome to DFW! My experience here is more on individual condo units that cash flow decently for me. Let me know if that's something you're considering and i'd be happy to share. MTR is also a solid strategy for Dallas IMO.

 @Blake Armstrong,

With 20% down you might have a tough time cash flowing, maybe if you could put more down for a smaller spot? Here are some actual numbers I have on a 1 bed condo I have had for around 5 years. These are considering no mortgage or capex, but add in your numbers to this and see if you still end up in the red or green? Say the purchase price is $100,000

Rent: $1000

Taxes: $157 (both county and ISD combined per month)

Insurance: $94 (Travellers, im sure you could shop around and do a bit better)

HOA: $200 (includes pool maintenance, water, 1 covered parking spot, and exterior maintenance)

Cash Flow: $548

Another option for better cash flow would be going to Midwest in a city like Toledo, Ohio. You could still buy a SFH (2-3 bed) in a good area for around $100k and rent for $1000, but there will be no HOA, wayy less property taxes too, making it cash flow really well. Happy to dive into those numbers too if you like!

@Nicholas Vialpando,

You should look into Midwest markets where numbers still make sense.

In places like Toledo or Detroit you can still find solid single-family homes around $100K that rent for roughly $1,000/month, hitting or coming close to the 1% rule. These aren’t in war zones either, there are plenty of stable, middle-class areas with good tenant demand and affordable management. Dallas might be a good option if you're looking for decent cash flow but more long-term appreciation.

If you’re open to out-of-state investing, those markets can be a great way to get started and actually see monthly cash flow from day one. Feel free to let me know if you want to know more about any of these markets i've invested in!