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Buying Rental Property in Dallas? Are You Ready to Be a Landlord? (2019 Update)

If you’re thinking of buying rental property in Dallas, there are a few things you’ll need to consider before you commit to your investment. First, are you ready to be a landlord? If you’re not ready to commit the time and energy it takes to handle maintenance, repairs, tenant issues, and all of the other responsibilities that come with being a landlord, you’re going to need to change your investment strategy.

Now, that’s not to say that you shouldn’t invest in real estate. In fact, with the help of a reputable Dallas real estate investment club, you could combine your investment capital with others’ capital to purchase a turnkey property together and reap the rewards without the time commitment of owning individual rental properties.

Now, let’s take a look at some of the responsibilities you’ll need to take on if you’re considering buying rental property in Dallas as an individual. First of all, as a landlord, you will be responsible for taking care of problems that arise at any time of the day or night. If a pipe bursts or the ceiling collapses, your tenants are going to call you, and you’re going to have to take action immediately.

That said, not all landlords take care of everything themselves. In fact, many landlords go the more efficient route and delegate responsibility for maintenance and repairs to a property management company. That said, you will still be in charge, in most cases, of finding tenants and handling calls from them for certain issues.

Turnkey properties, which are completely run for you, do come at a slightly higher price most of the time. If you do not have other investments to monitor or other business to handle, you may be able to get a higher ROI on individual properties. However, you will have to invest a good deal more time and energy into this kind of investment. With a Dallas real estate investment club, you can find a property that will give you a good return on your investment without losing your precious time.

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Tips for Finding Investment Properties (2019 Update)

When it comes to buying investment real estate, you have a lot of questions to answer before you make your purchase. Chief among them is where to buy investment property in Dallas. Whether you’re purchasing commercial, single-family, or multi-unit residential property, you must know whether or not you’re purchasing real estate in an area that’s growing and that will show a positive ROI over the coming years or whether the area you’ve chosen is diminishing and will leave you with a huge waste of money rather than a profitable investment. So, how can you tell where to buy investment property in Dallas?

Take a Drive Around Town

If you live in the Dallas/Fort Worth area, you have no excuse not to do this. Take a drive around the neighborhoods where you’re looking at properties. Do they have access to quality schools? Is there a popular grocery store nearby? What about entertainment and recreation?

You can tell a lot about an area’s growth potential when you look at these amenities. If it has all of them or there are plans for more to come in, you’re probably looking at an area that’s growing and which will give you a good ROI. If not, you should probably move on to the next property on your list.

Call the Tax Assessor’s Office

What are the property taxes like in this area, and when was the last time they were assessed? If the area has recently been assessed, look for manageable property taxes and good market values on homes in the area. Also look at vacancy rates and how long properties stay on the market in the area.

These will give you a good idea of what you can expect if you decide to eventually sell. If the area has not been assessed in some time but is showing growth, be wary. The property taxes are probably due to increase soon.

Call a Trusted Realtor

Finally, enlist the aid of a trusted realtor who knows the market and has experience with investment properties. If you’re looking at foreclosures, talk with a real estate agent who has worked specifically with short sales and foreclosure sales. They’ll be able to give you expert advice on the types of investment properties you’re interested in and will help you make the right decision and proceed with your purchase.

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InvestmentClub360.com to partner with Fundingnest.com (2019 Update)

Today Fundingnest.com announced they will be partnering with the team at Investmentclub360.com to find pre audited commercial and residential real estate deals in Dallas, Texas and surrounding cities. Fundingnest.com will help connect investors with institutional quality investments all over the nation. They will also help investors learn about how to invest in commercial real estate with NestU, an online university made up of webinars, interviews, and presentations. They will also allow investors to combine efforts together in what they call TeamNest. These “Nesters” will form a community of sophisticated investors coming together to aide each other in investing and diversifying into commercial real estate.