Dallas/Fort Worth

General Real Estate Investing
1

What do you guys think of the Dallas/Fort Worth area? I’m from CA and thinking of investing in cash flow properties there. Since taxes are high in the state of TX, lots of people rent. I can buy two properties in TX for the price of one here in CA. Also, Lockeheed Martin (biggest US defense contractor) is there. I’m thinking, the US military has to replenish what it used in the war in Iraq. There will be lots of job opportunity.

http://www.machinedesign.com/ASP/strArticleID/55861/strSite/MDSite/viewSelectedArticle.asp

I’m sure this is not news to all you seasoned investors. But please share your investing experience in this area.

2

I’m from that area originally, great market. Property taxes throughout are higher than average, primarily because there’s no state income tax. Beware the Texas Legislation passed 1 Oct 2005; the AG has a problem with REI.
Regards,
Dave

3

Flip,

I am from the DFW area as well. Houses here are cheap and plentiful. Check out this article…

http://money.cnn.com/2005/12/29/real_estate/buying_selling/handicapping_housing_markets/index.htm

According to CNN/Money we are undervalued. You can pick up new construction section 8 ready houses here for 85% LTV all day long.
I have done loans for California investors on a regular basis for awhile now. They are moving away from California and Arizona and investing here now. Land is cheap and plentiful, and the cost of living is not bad at all. Good Luck and Happy Investing.

4

Hi Flip,
I lived in North Fort Worth for the past two years and noticed a considerable amount of growth in my immediate area. Shopping centers are popping up everywhere, with major anchor tenants (Wal-Mart and Home Depot to name two.) I think there are 5 Walmart Supercenters and 3 Home depots within 8-10 mile radius of my house.
As for defense contractors, Bell Helicopter is also in Fort Worth, among others and there is a strong group of employers in other various sectors. I moved back to TX from CA in '04 and can definitely relate to the culture shock people experience when going from CA prices to TX prices. Inbound Californians are a TX realtors dream (or any other state for that matter.) All in all, I highly recommend the area to invest in or to live in. My best to you.

Nick