All Forum Posts by: Tyler H.

Oakhurst has pockets of good/bad--can change from street to street. Some areas experiencing more revitalization than others. If you bought the property well, you should be ok.

Rigo,

Yes, 50-60% of ARV is extremely difficult to find from a wholesaler, definitely not enough of those deals to make a living off of long term. Most are offering deals at or above 80% ARV. As always, the best deals are direct between you and seller!

The Greater Forth Area Real Estate Market is strong right now. Multiple Offers above asking price are quite common, especially for clean, move in ready homes located in good school districts.

 Regarding down payment:  If you can put 20% down, this is very favorable and will save you from having to pay private mortgage insurance.

Buying a Home to resell in 1-2 years is speculative and a break even proposition, at best, considering closing costs and fees. My opinion is that it is always better to own, especially considering higher rents across DFW. Lots of unknown variables for your situation, that require more info and or possibly professional financial advise.

Hope this helps.

Numbers aren't great at all. Not sure what area this property is in, but In my experience, demand for a 3,000 Sq Ft Rental is much less than for a 1500-2500 Sq Ft Rental. Plus, rehab costs for this size of property can escalate quickly.

Without all the details of the property, seems like obtaining financing/funding for this type property would be an issue, mainly due to lack of comps. Rehab/finish out on a 4500 Sq Ft property would be substantial (100K+, easy)

You will most likely be hard pressed to find a Turn Key, 8 Cap Property in DFW at this point in the market. Watauga is a blue collar area, but not much inventory. Haltom City occasionally has some older, smaller duplexes that hit the market.  @Cindy Carriger is right about south Fort Worth duplex deals that pop out from time to time. However, they are usually located on streets lined up with other duplexes (i.e., more competition, lower rents).

Justin is a fast growing area, still on the outskirts of Greater Fort Worth, but close to Texas Motor Speedway and the Alliance/114 Corridor. Northwest ISD is a great school district. It is quite a commute to Fort Worth from Justin, primarily due to the construction on I-35. Mostly Newer Construction. Rents would be solid, but probably not as strong as Roanoke or Keller.

Yes, there is strong demand for clean, move in ready rentals, especially 3/2/2's in Brewer Schools, outside Loop 820 (Chapel Creek).

Good median rent range is $1195 and up, depending on location and condition.

If you happen to change your mind and consider selling, let me know, I have a retail client looking to buy in that area, all cash.

Best of Luck!

@Todd Dotson Glad to see you on BP! You're Tactical strategies and knowledge of the DFW market are priceless!

I would try Police Dept (non emergency #), speak with them, maybe have them come out and put sticker on the car. If not removed, I think they can have it towed within a certain number of days. If it's in good condition, may be worth checking with DMW, getting a lien put on title, etc.