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Why You Should Invest in a Luxury Foreclosure in Dallas (2019 Update)

The foreclosure rate in the Dallas/Fort Worth area is lower than it’s been in the past 6 years – and a full 20% lower than it was this time last year. However, there’s still one market where you should be paying attention to foreclosure real estate investing in Dallas. Lagging the rest of the market’s recovery, there’s actually quite a bit of luxury real estate for sale in Dallas at very low market values.

If you’re interested in foreclosure real estate investing in Dallas, you should take a look at some of the luxury homes on the auction list. You can buy these at significantly reduced rates, and then you can hire a property management company to take care of maintenance and repairs. You might even be able to hire a company to find tenants for you who’ll pay much higher rental rates than you could get on a smaller property.

And if you’re wondering who would buy or rent luxury real estate for sale in Dallas, then you don’t know some of your wealthier and more famous neighbors. Mark Wahlberg and Bill Gates have luxury homes in the Dallas area, and Tom Brady and Gisele Bundchen have a home here, too.

With neighbors like those around a city like Dallas – where the economy is booming and more and more lucrative jobs are created every day – you can see how the area attracts people of a certain lifestyle. Add to that the current trend of wealthy people renting their second homes instead of purchasing them, and you have a recipe for a brilliant investment.

Check out the opportunities for foreclosure real estate investing in Dallas and the luxury real estate for sale in Dallas. You might be surprised what you can afford and the return it will give you on your investment.

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To Flip or Not to Flip – How to Invest in a Foreclosure (2019 Update)

Sometimes the best real estate investment in Dallas (or anywhere else) is found in a foreclosure. As you most definitely already know, after the housing crisis of ’08, we saw a lot more foreclosures than we’d seen in previous years. Since then, the number of foreclosures has been steadily declining. However, there are still quite a few each month, and they still provide a lot of opportunities for those looking at foreclosure real estate investing in Dallas.

So, if you’re interested in a foreclosure sale, you probably already know that you need to do your research beforehand. If you don’t, you could purchase a property at what seems like a very low rate, only to find out that it has several liens on it that you’re now responsible for. It’s a rookie mistake, but it can quickly turn what seems like the best real estate investment in Dallas into a money pit and a nightmare.

The real question, though, when you’re thinking about foreclosure real estate investing in Dallas, is whether you should make quick repairs to the property and flip it at a small profit or keep it as a longer-term investment.

Both of these options involve time and effort on your part. If you’re going to flip a house, you need to have relationships with contractors and people who can bring it up to code and up to snuff to sell it. Then, if you want to continue making money, you’ll have to find another good foreclosure deal and do the same thing, all over again. It can become a full-time job very quickly.

If you’re going to keep the house as a long-term investment, you need to bring it up to code and make it attractive to tenants. Once you’ve done this and gotten paying tenants on site, you’ll just need to do routine maintenance and repairs when necessary. If you hire a property management company, this route can become very hands-off in very little time.

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Residential Foreclosures are Down in Dallas (2019 Update)

If you’ve been wary about investing in real estate in Dallas, check out these great tidings from The Dallas Morning News. The number of foreclosure filings for January 2015 is down a full 20% since this time last year. Fewer foreclosures mean great things for real estate investment in Dallas.

With fewer foreclosures come fewer vacancies. With fewer vacancies, come higher property values. In other words, real estate in Dallas is back, and now is the time to invest in residential and commercial real estate.

We’ve always known that, over the long-term, real estate is a winner. With a rising population and a booming economy, the Dallas/Fort Worth area just can’t help but have great property values. Even in the extended economic slump we’ve battled through as a country over the last 6 years, Dallas has continued to thrive and has not seen the drastic lows in property values that other areas in the United States have seen.

As a demonstration of how real estate investment in Dallas has thrived and continues to show increases, 2014 was a record-breaking year for property values. According to experts, we haven’t seen a property boom like this since the 1980s, and this is in a recovering economy after a housing crisis!

As more and more jobs come to the Dallas/Fort Worth area, more individuals and families will want to rent homes in the area, making Dallas the place, and now the time. If you’ve been thinking about investment homes and real estate, you might want to do more than just think on it. You might want to talk to a real estate agent or a real estate investment company for some good advice on where to purchase property and what kind of invest in.

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Avoid These 3 Mistakes When Investing in Residential Real Estate (2019 Update)

Residential real estate investment in Dallas can do a lot for your monthly cash flow and for your investment portfolio. However, if you aren’t careful, this investment dream can quickly turn into a nightmare that costs you more money than it’s making you. Fortunately, you can pretty easily avoid that nightmare if you follow these tips.

Failure to Do Your Homework

You set out to buy investment properties in Dallas, and almost immediately saw a great neighborhood with good schools and low property taxes. You snapped it up as quickly as possible, but you didn’t think to check on whether the area was due for a tax assessment or not. Now you own a property in an area with astronomically high property taxes, and you’re having trouble renting it at a price that will cover your expenses.

If you fail to plan, you’re planning to fail. Always do as much research as possible before you buy investment properties in Dallas, Fort Worth, or anywhere else, for that matter.

The DIY Trap

Once you purchase your residential real estate investment in Dallas, you notice that it needs a little bit of work, here and there. Instead of hiring a property management company, you do it yourself to save money. The more you do this, the more time you’ll spend on jobs and tasks that would be better done by professionals. Your time is worth money; spend it wisely.

Underestimating Maintenance and Other Expenses

Finally, a lot of investors have issues with underestimating the cost of keeping a house in good condition. If you only factor in the mortgage, taxes, and your property management company’s monthly fee, you could end up losing money very quickly. Take some time and figure out how much it will actually cost you to keep the property well maintained, and you’ll be less likely to regret your purchase later on.

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Tips for Investing in Foreclosure Real Estate in Dallas (2019 Update)

If you’re new to real estate investment, you’ve probably heard or read a little bit about foreclosure real estate investing in Dallas. Purchasing the right piece of pre-foreclosed or foreclosed property can get you a great deal and can turn into an amazing long- or short-term investment.

Some people think that buying and selling foreclosure real estate will be easy and that they’ll make a lot of money in a very short amount of time, but that’s not always the case. In fact, I’d recommend against the, “Get rich quick,” mindset if you’re investing in real estate.

Why? Well, to be honest, real estate is usually a much better long-term investment. If you don’t have experience in buying and selling houses, talk to realtors in Dallas, TX about the market, what works, and what doesn’t. If you have connections with people who flip houses and with contractors who can do the work that the houses you’re buying and selling need, then you can make a profit pretty quickly, but if you don’t, you could be making a bad investment.

Now, I’m not saying you shouldn’t consider foreclosure real estate investing in Dallas. Quite the opposite, actually. If you’re interested in a long-term investment that will give you regular cash flow, real estate is a great choice. Ask realtors in Dallas, TX about finding a property in your price range that you can renovate and rent out.

Over time, rental properties give a much larger return on your investment, and foreclosures can be the best deals on the market. And, if you do your research, you can find a great deal on a pre-foreclosure property, a property that’s up for public auction, or a property being sold by the bank. Do your research and be patient; your investment property is out there waiting for you.