Hi,
I am new to investing and am relocating to this area in a few months. I have a decent amount of cash, about $50,000 I can comfortably part with and would like ideas, recommendations, etc as to what might be available in this area.
I am a young investor, in my 20’s, and don’t need to create wealth really fast or structure huge deals, just a comfortable cash flow for now. Any advice in this area would be greaty appreciated. Thanks
What brings you to Dallas/Ft.Worth. I live here and pretty new myself but you can join some investment clubs here.
Well, honestly, the ONLY reason I am staying in texas is because of my daughter, she’s almost 2 and I want to live closer to her, rather than 4+ hours away like I am now. I am leaving my residence area open a little. I can live anywhere in the D/FW area, as long as its not too far from her. This should give me a good range of oppurtunities, I hope.
I plan on joining some investors groups prior to the actual move. I currently run my own business and am getting out of it as soon as I graduate from school.
I need a change of pace, so i’m definately interested in REI.
shsugrad,
There are deals anywhere you choose to live. Some are better than others. It all depends on how much time you are willing to invest to find them. What are your plans for REI? There are so many different ways to make money in RE, but some are faster than others. Are you interested in passive income or active income or a combination of both. Do you want others to pay you rent for your properties or pay you for finding great deals on property, or pay you for the work you have put in on a remodel? Do you want this to be your job or a supplement to your job?
Wilson
Thanks so much for the response. I don’t have a solid carreer plan when I graduate in a few months, so i am open for anything. . However, I have bills every month like everyone else and need an income to justify that as well. I’m going to say at the moment, I would like to start off small- part passive and part active income. I am not handy at fixing things, so right now, I think a rehab project would be out of the question. However, hooking up with another investor to learn is an option; I would like to eventually get into rehabs and flipping properties, but I lack the connections in this area.
I am currently looking into buying a piece of income property a duplex-fourplex to supplement my income a little, but mostly to make sure I can do it before I move on to more properties, etc. So this would strictly , for now, become a supplement to whatever income path I
choose.
I know of some great investment opportunities in your state as well as South Carolina.
Buying a single family residence to rent out in Dallas may be an idea to consider. In Dallas, the average home price is $81,000 (compared to $174,900 in Texas). The average rental rate for a 2 bedroom single family residential is $950.
If you want to see more facts about the Dallas real estate market, check out this infographic at http://www.bankforeclosuressale.com/wp/article-01074151.html.
Hello shusugrad’
I am an investor in the area. And in answering your question, I can help you. But in order to keep in line with the rules of the site, I cannot give you information about
getting in touch with me… I’m not sure if I can do this, but my company is
Purmas Properties llc, google it… I do think you may Private massage ma though…
Yeah, I don’t think you can offer private massages on here… :shocked
It is good that you are not looking for a quick way to get money.I encourage you to read a lot and join investment clubs or any other way that you can gain knowledge and experience in REI.
With that amount of cushion you should do well. Depending on what you investment strategy is. Will you be wholesaling or simply looking to buy a home flip your your cash? :cool