The property taxes may be high but you can look into other options for commercial loan that will suit your financial plan. The economic prospects for the city are all time great. I have brought myself some properties in the local area with great investment purchase.
This is a somewhat unique opportunity I am also an investor based in the bay area (Napa, CA). I specialize in low level foreclosure purchases across the United States, and I currently have set up my base for several of my clients in the Dallas area.
Please view my website:
and feel free to contact me on potential investments/partnerships in the Dallas area.
I look forward to speaking with you soon.
Property management fees are 10% customarily. Yes, higher property taxes and no state income tax. That is why positive cash flow is not always easy to acheive. Perhaps I could find a single family home that is in an area of escalation, that would need work to be rentable and have a positive cash flow. May also be able to find 1 or 2 condo units that fit this bill also. Write me directly or call if you want to discuss. Thanks.
The neighborhood where I grew up and where my mother's house is that is on the market is now the place to live! Builders have come in and torn down a lot of the cute little bungalows that had been there for the past 60 years or so and have built McMansions. As these new, more expensive homes have gone up all the property taxes on the older homes have gone up as well. So, in other words, you can have a home that you have owned for 30 or 40 years and your property taxes are based upon the newer homes in the neighborhood.
Again, I've got a great guy for you to talk to that knows the area inside out - I'll give you his email address if you'd like.
I have been working with 3 different couples that are looking for a house to rent and every house we looked at had about 2-4 applications on it within 48 hours on the market. Landlords are more picky too for that obvious reason.
A duplex in the DFW area for about 150 is achievable and many are on the market with 100% occupancy rate. I usually don't recommend to invest in an area that has a college because of the high turnover rate and make ready cost. Just like any other real estate investment, location is key, schools, insfrastructure, major employers and transportation. The only time I would say that a college area is acceptable is if the subject property is apartment complex with 20+ units.
This area is great as far as prospects...no bubble here. Most investors supplement rents most of Dallas...many things become land value. Subprime not affecting us as much as California but certain areas like South Dallas, Cedar Hill, Frisco are impacted. I might recommend some suburbs perhaps Waxahachie perhaps? I am not familiar with occupancy rates there. Perhaps some economically challenged parts of the city but that may present some rental challenges. If you want to call and chat about it give me a buzz at 214-809-2244. Kathy Murray Abio Realty