emicro1, Home Buyer in Dallas, TX

hello I live and work in CA. What is the least amount of money I need to invest to NET a monthly rental income of $1000. thanks dave

Asked by emicro1, Dallas, TX Sun Jun 23, 2013

Help the community by answering this question:

Answers

12
Dixon Wong’s answer
The first thing you need to find out is if you will able to get an investment loan in Texas. There is a lot of considerations you will need to go thru to get a investment loans. Since you haven't don't any investment properties in Texas, it can be a challenge! It usually require to have a 20-25% downpayment for an investment loan so you can get the idea on how much you need to invest.

Let me know if you need contact for local lenders. I would be happy to help you find lender and locate a good investment properties.

Thanks

Dixon
Realtor
http://www.findyourtexashome.com
0 votes Thank Flag Link Mon Jun 24, 2013
Hi Dave,

If you are interested in multi-family investments, I have seen town-home style duplexes near San Marcos that have a positive cash flow of around $1000 a month, even with a mortgage. I believe these duplexes were around $250,000. They were 3/3.5/2 unit mixes. I have also seen lower-end fourplexes that will give that amount of positive cash flow.

If you would like more information about rental properties in Austin, please contact me at 512-693-9297.

Jordan Gouger
Realtor
Keller Williams
0 votes Thank Flag Link Mon Jan 27, 2014
Without considering the loan and looking only at taxes, insurance and maintenance, you'd need to invest about $140-180k.
But, there are many possible mathematical solutions to this question. And, if you want to net that $1,000 a month after repayment of a mortgage, you would be better served by buying 2 properties.
The whole package is somewhat complex to describe in a single post back to you, but you would need a down payment and investors usually need 10% down and would repay with taxes and insurance at about $6.50 per $1k of investment.
Rentals rent for an average of $0.70 per square foot across the Metroplex, some places garnering more, some less.
In order to stay in the median market to maximize addressing the rental market, you'd have to stay below $200k buying price. The market for more luxurious homes does exist, but it is thinner and that makes finding a renter harder.
Some areas pay more per square foot but there other considerations like whether you want to resell at a later date will it maintain its value.
Bottom line: expect to invest in properties valued at $250k if a mortgage is needed, $180k without.
0 votes Thank Flag Link Mon Jun 24, 2013
It depends on a lot of factors. The area/subdivision, the home that you'll be purchasing itself, the price that you are willing to pay or approved for, property management, and the list goes on. I would say you have to look at it case by case basis.

I'm not only a realtor but also an investor; let me know if you need help finding an investment property.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Mon Jun 24, 2013
Each home and area stands on it's own. You would need to look at this for each property or area you are considering buying. You would also have and also want to purchase multiple properties to achieve this objective.

Hope this helps.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Mon Jun 24, 2013
Just visit my web site at http://www.aatrealty.com/

I have the Most Advanced Real Estate Search Platform

- Free
- Public Record Data
- Schools Data
- Business Data
- Recently Sold Homes
- Demographics
- Geocoded Polygons (counties, cities, neighborhoods, etc.)
- Property Values via AVM (Automated Valuation Model)

Through our innovative Lifestyle Search System, users can visually see the relational perspective between all things important in their real estate decision making process. Looking for a home within a quarter mile of a high school, a half mile of a coffee shop, and 2 miles from a grocery store? AATRealty can find you those homes.

Also, you should be So Lucky! Just visit my Buyers Page, you will be surprised. For a limited time, I am offering up to %70 of my commission as a rebate to the home buyers


TORANG NAZMI
☎ 972-897-5718
http://www.aatrealty.com/
Broker / Owner of AATRealty
0 votes Thank Flag Link Mon Jun 24, 2013
Hi Dave,

It depends on a few factors, such as whether you plan to finance them or not. You can probably net $1000 per month using 20% down on three properties with about $60,000 in capital.

We have unlisted (off market) turnkey investment property on our website. Feel free to browse and let me know if you have any questions, or would like to discuss a strategy to get to $1000 per month.

Continued success,


Marco Santarelli
Norada Real Estate Investments
(949) 218-6668
(800) 611-3060
http://www.NoradaRealEstate.com

Your Premier Source for Turnkey Cash-Flow Investment Property
0 votes Thank Flag Link Sun Jun 23, 2013
Hi Dave,

It depends on a few factors, such as whether you plan to finance them or not. You can probably net $1000 per month using 20% down on three properties with about $60,000 in capital.

We have unlisted (off market) turnkey investment property on our website. Feel free to browse and let me know if you have any questions, or would like to discuss a strategy to get to $1000 per month.

Continued success,


Marco Santarelli
Norada Real Estate Investments
(949) 218-6668
(800) 611-3060
http://www.NoradaRealEstate.com

Your Premier Source for Turnkey Cash-Flow Investment Property
0 votes Thank Flag Link Sun Jun 23, 2013
I work with investors world wide AND have been a real estate investor your question is very valid.

Depends on what the property was purchased for your carrying costs, mortgage, insurance , tax. I have a property currently for sale $339K... lease quickly for $2750 per month , owner most likely has a $1000 profit per month.

Are you paying cash ? Loan ? Are you approved for an investment loan with your lender? All these questions determine what your net cash flow would be.

Are you going to have mgmt. company here in Dallas ? If YES my office has over 100 properties we manage for investors.

You can also purchase "right" with housing market increases over next several years COULD be you may not have $1000 net profit per month several years down the road you could and with equity increase.

I use to hold on to properties for several years, not truly caring if I made profit off the lease I just knew in several years I would make more money in resale of the property.

I had a client just made $70K on a townhome purchased in 12 months ....he is extremely happy.

Contact my office Monday
_________________________________________
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook and Twitter
http://www.facebook.com/lynn911dallas
https://twitter.com/Lynn911

(If my answer is helpful indicate by THUMBS UP or BEST ANSWER. Thank you )
0 votes Thank Flag Link Sun Jun 23, 2013
With the current real estate market in DFW, you may get 16% to 18% return on your investment. You will need $75,000 to yield $12,000 a year or $1,000 net a month, provided that you have good credit and can obtain 2 or 3 mortgages. Please feel free to contact me if you are interested in learning more about investing in rental properties in DFW area.
Duong Nguyen
RE/MAX Associates of Dallas
469-556-3042
don_remaxabrams@yahoo.com
0 votes Thank Flag Link Sun Jun 23, 2013
Hi Dave,
There are a lot of variables to factor in, such as the current rental market conditions of the area you're targeting, the size and amenities of the home, your investment purchase amount vs the lease terms you'll offer, etc. I am happy to pull a list of available homes for sale, after learning more about your desired rental criteria. Do you have a particular area of the Dallas metroplex that you'd like to focus on?

Diane Briggs, REALTOR®
Asset Realty
(214) 289-0093
http://www.TxHomeConnections.com
0 votes Thank Flag Link Sun Jun 23, 2013
Hello Diane
I am not particular about areas but it obviously needs to be safe. I do not want a home with HOA. If I buy it, most likely it will be all cash.
thanks
dave yang
Flag Sun Jun 23, 2013
Hello Diane
I am not particular about areas but it obviously needs to be safe. I do not want a home with HOA. If I buy it, most likely it will be all cash.
thanks
dave yang
Flag Sun Jun 23, 2013
Hi Dave,
There are a lot of different factors to consider on an investment property before you can talk about net profits. For example, you need to decide what kind of property you would like to purchase to rent out and you need to find an area of town that you're comfortable with. After that, you'd need to look at HOA dues (if any) you would have to pay, if you would like to provide any bills like lawn care or general upkeep on the property, etc. There are many factors to consider, and unfortunately there isn't a magic number that is a gold standard for investment. It's simply case by case. However, if done wisely, you can make considerable profits in investment property, so it's good that you're asking these questions!

In any case, I'd be more than happy to discuss with you further on how to make the most out of your investment property. Find my information below and we can chat. Hope that helps!

Sincerely,

Andrew Wetzel
Wetzel Investments
Keller Williams Allen
469-795-1522
info@dallasinvests.com
0 votes Thank Flag Link Sun Jun 23, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer