However, $50k isn't really a huge amount for real estate. But if we use the usual rule of thumb here, you can expect rent of $500 a month. Choosing a good location could make that higher, but better locations are well above the $50k baseline.
$50k would buy only some lower priced properties in less desireable neighborhoods or cheap condos in middling neighborhoods. The average selling price in the Dallas market is roughly $150k. You'll either need more money or have to pool with someone else to buy into good neighborhoods.
There are several neighborhoods in the DFW area where you can find properties to do fix & flips or fix & holds with a $50k budget. If you are not afraid of less than glamorous neighborhoods, it can definitely be done. I work with several investors and can help connect you with great teams of everything from financing to top notch contractors for repair and renovation. Contact me if you would like more information!
Monica Pineda - REALTORÂ®
VIP Realty | Real Estate Consultants
The Premier Firm in Real Estate
Direct: (469) 554-0585
Turtle Creek Realty
Latest Dallas Real Estate Infographic: http://www.bankforeclosuressale.com/wp/article-01074151.html
Much comes into play when searching for areas and etc.
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
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