Looking for a Realtor who knows the Dallas area and has investing experience

Asked by Sarah, Alameda, CA Mon Apr 28, 2008

I am looking for a Realtor who knows Dallas, Ft. Worth and Lancaster areas and also has experience with investing in properties. Therefore, experience with respect to non-resident investors will be greatly appreciated.

I am an investor looking for single family properties with a cap of $150K in the Dallas and Ft. Worth area. I am not interested in flipping homes, but rather keeping them as rental properties.

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Alan Wynn, , Irving, TX
Tue Apr 29, 2008

First, let me say that your strategy to hold rather than flip is solid. The inventory in the Dallas area is heavy with properties in the $150K price point so there are many equity position opportunities. Also, with the sub-prime collapse, the Buyer pool has decreased and many of the Buyers have entered into the "tenant" pool with aspirations of become Buyers in the future. Bottom line is that there is a good combination of properties and tenants available to investors than can hold property short-term.

As an investor, you know that you are not buying property as much as you are buying cash flow. So properties that are already tenant occupied, Section 8 housing and absentee owner properties would provide the kind of portfolio to choose from that would lend themselves to positive cash flow. I would shy away from foreclosures because of the potential out of pocket expense required to make these habitable. There are enough non-foreclosure properties available to choose from that will provide a low acquisition and operating cost without having to resort to distressed property.

To me, one of the most important factors in determining if a property has potential is the cap rate you need as part of the exit strategy. Typically, my investors feel that a net 10 cap at disposition is acceptable. The issue that will have the most impact on this of course will be your acquisition costs...leveraged or non-leveraged...and your disposition costs - assuming rent / expenses provide a neutral or positive cash flow.

Lancaster has a high transient population so the opportunity for tenants in rental property is good. I did a quick search and found about 130 properties under $150K. I picked these three...click the link below or paste it into your browser...that have a 20% to 25% equity position at List Price which can be negotiated even better.


There are several areas within the Dallas area that are good candidates for supporting rental property. Carrollton and Farmers Branch are areas that my investor clients have had good luck with. And almost anywhere in South Dallas...Lancaster, Duncanville, Cedar Hill, etc.

It has been my experience that I have to review and analyze 100 properties to find 1 that is viable. But the current inventory is high enough so that there are plenty of properties to include. And the local MLS is growing at about 1/2% daily.

Hope this helps. With the right strategy and expectations going in, the Dallas area should provide you with ample opportunity to succeed as an investor...in this market.

Please feel free to call or email if I can help you with your decisions.

Thanks for using Trulia.

Alan Wynn - Realtor
Like NO ONE Else!
1 vote
Kristi Nathan, , Flower Mound, TX
Fri Jun 19, 2015
Hi Sarah, I am a realtor that really enjoys and specializes in helping investors find the type of properties they are looking for (buy and hold, fix and flip, wholesale, etc). I help get the properties secured for you (make offers, write the contracts and get the deals closed).

Please feel free to contact me:
Kristi Nathan
Cell/text 469-855-3183
Email: KristiNathan@JudgeFite.com
Century 21 Judge Fite Co
0 votes
Kristi Nathan, , Flower Mound, TX
Fri Jun 19, 2015
Hi Darah, I am a realtor that really enjoys and specializes in helping investors find the type of properties they are looking for (buy and hold, fix and flip, wholesale, etc). I help get the properties secured for you (make offers, write the contracts and get the deals closed).

Please feel free to contact me:
Kristi Nathan
Cell/text 469-855-3183
Email: KristiNathan@JudgeFite.com
Century 21 Judge Fite Co
0 votes
Amy W, , Dallas, TX
Mon Aug 18, 2008
I am an experienced Real Estate Agent who specializes in investment properties. I currently work with a group of about 150 investors, and have 5 to 10 properties sent to me every day that are discounted around 20%. 80% of these properties are in the DFW area, and many of the investors I work with also hold the properties they acquire thru me as rentals.

I'd be happy to send you some of the properties we currently have available to see if any of them are a good match for you. If any of them catch your eye, I can assist you with all the paperwork. Also, I was born and raised in the DFW area, so I am very familiar with the market here.

Amy Williams
Habitat For Hire
0 votes
Mark Chovan, , Frisco, TX
Tue May 6, 2008
If you are interested in acquiring investment properties with current tenants and lease agreements, I can help. If you are seeking properties to renovate and rent, I can help. I am a licensed agent and small investor myself, and like the rental market at this time.
Web Reference:  http://www.bigdrelo.com
0 votes
Lola Carey, , Dallas, TX
Mon May 5, 2008
I can help you find investment properties. I have work with investors, custom builder for over six years and still have them as loyal clients. I am very familar with the DFW, Lancaster, Desoto, Duncanville, Cedar Hill area. Let me know if there is anything I can help you with.
0 votes
Garrick Step…, , Dallas, TX
Wed Apr 30, 2008
I would love to help you purchase investment properties here in the DFW area, now is a great time to do so. I have helped many clients with their non-resident properties as well as have owned my own. Give me a call on my cell @ 214.693.9482 and let's get started.
0 votes
Felicia Pete…, Agent, Granbury, TX
Tue Apr 29, 2008
I service Hood County, an area about 35 miles southwest of Fort Worth. We have many single family properties in the price range of $100,000-$150,000 which are excellent for rentals. The rents that these properties return will generally provide a 8-10% cap rate.

We have allot of people moving this direction due to work in the Barnett Shale gas fields. there is als an influx of personnel working at the Comanche Peak Nuclear Power Plant.

The schools in Granbury are very desirable, the quality of life is exceptional due to the close proximity to the Metro Plex.

Felicia Peters
Broker Associate
Coldwell Banker United Realty Professionals
0 votes
Doris Barnett, Agent, Richardson, TX
Tue Apr 29, 2008
I agree duplex triplex properties have the aforementioned advantages. Be sure that they are titled as one not individually as happens frequently here. ask to see the tax roles! I have two single family properties right now that might be interesting, One in Frisco 3/2- 2 car garage about a half acre it is higher than your limit but has the advantage of extra land in downtown Frisco and Frisco schools sometimes make the difference. Also one in the Colony-not even on the MLS yet. 3/2 2 car garage corner lot rent should come at 1000, I would re-carpet- it is a bank approval required property. It may also take inside paint and a few brighter flowers in front. Woodent fence is there but needs to be reset, it blew down in the last storm so the tenants just stacked it as the storms have been coming almost weekly. Send me an e-mail for photos.

Doris Barnett-e-PRO Trainer
RE/MAX Dallas Suburbs http://mailto:Doris@Dorisbarnett.com
0 votes
T.E. & Naima…, Agent, Dallas, TX
Mon Apr 28, 2008
Have you thought about purchasing a 4plex or a duplex. Those do real well in the Dallas/Fort Worth area too. You expenses would be cheaper too from a property management standpoint as well as 1 tax bill, vacancy rate would offset when only 1 unit is vacant vs the whole thing.

Just a thought for your to ponder on...

Also, why Lancaster? It's not a high demand area for rental properties. As an investor, you want to concentrate on an area that has strong large employers, very desirable schools, as well as areas that have universities with dorms, not community colleges and Lancaster doesn't have either.
Web Reference:  http://www.sumnerrealty.com/
0 votes
Terri Hayley, Other Pro, Dallas, TX
Mon Apr 28, 2008
Hi Sarah,

I have grown up in the Dallas area since the '70's. I learned how to drive here and am intimately familiar with the Dallas/Fort Worth area as well as Lancaster.

I've worked with dozens and dozens of investors from the Bay Area flying into the North Texas area to take a tour of the area and get an idea of which area and homes would be the best buy for them for years. My advice to them was the same a few years ago was to hold for a few years and not try to flip them then. They are still holding and doing well. There's just something magical about the $150 mark to investors! :) We can certainly help you find homes in areas which would be best suited to your risk tolerance.

Happy to help,
Terri Hayley
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Apr 28, 2008
I am a Dallas realtor, Dallas real estate investor, Dallas home mortgage loan officer, I work with Dallas investors in commercial and residential purchases

1st you need to be qualified for a purchase in order to submit offers a pre-approval letter must be attached to an offer

There are some GREAT foreclosures move in quality in Lancaster that offer an upside for long term investment, of course there are other areas in DFW offer the same as Lancaster

Myself and team do allot of work for families relocating to Dallas or for investors who don't live in Dallas to make it so much easier for you
Contact my office where we can assist you further
Web Reference:  http://www.lynn911.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Mon Apr 28, 2008
Sarah, Call me. I have lived in both Dallas and Ft. Worth and several of the cities in between. We have
worked and are currently working with out of state investors. I am an investor myself with the same buy, hold, rent ideas. I have some ideas for you.

Bruce Lynn
Prudential Texas Properties
Web Reference:  http://www.teamlynn.com
0 votes
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