Updated 12 months ago on . Most recent reply
Investing in DFW or other Texas cities
Hi
I’m completely new to investing. I have a primary home in Dallas. Looking to purchase an investment home to be property managed and rented out to get cash flow but also want appreciation. About how much down payment is recommended and any specific property management companies in DFW. I’m open to outside DFW or Austin and San Antonio too. If
Most Popular Reply
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
You are in the right place. No need to go much outside DFW. That just adds to your risk and expenses.
As an investor if you want to get a loan, you'll typically need to put down 20-25%
Property management is probably better to learn how to manage yourself and save 10% or so every month off the PM fee. Typically I'll assist my investor clients get them rented and then once tenant is in, turn it back over to them to collect rent monthly and handle any periodic repairs. That seems to work well most of the time and if for some reason your situation changes you can always turn it back over to PM.
If you really want to turn it over to PM, I would wait until you get the property and see who the best PM is for that location.
Good luck and best wishes.