Is Dallas a Good Place to Invest in Real Estate?
Dallas Fort Worth continues to be a fantastic opportunity area for Single Family Residential Real Estate Investors in 2022. With the increase in remote working resulting from the COVID Pandemic, the Dallas-Fort Worth area has experienced a tremendous influx of high-tech corporate employers and young professionals moving to the area to take advantage of a more affordable cost of living. As a result, extremely high demand and very low inventory have set the Dallas Fort Worth housing market on fire!
According to a report from the Texas state Realtors association, the median home price in Dallas-Fort Worth shot up more than 21.5% (year over year) in 2022 Q1, with the median home priced at $376,500.
Where are the Best Areas in Dallas to Invest in Real Estate?
With our focus on medium-priced “workforce” homes in popular neighborhoods at Let’s Get Paid, we have experienced our average profit from home sales jump from $51K to over $80K. We continue to see the following cities as the best areas in Dallas to invest in real estate:
- Fort Worth
- Grand Prairie
We have sold many homes in these areas and typically receive multiple offers above the list price.
How To Invest in Real Estate in DFW Using Our Strategies
Let’s Get Paid has experienced so much strength in the 2022 market that we have adjusted our resale pricing strategy to start with a lower initial asking price to gain buyer interest and instigate a bidding war between offerors. This strategy has worked great for us, and we will continue using it for the foreseeable future. Significantly contributing to price appreciation for home sales in the DFW, out-of-state investors are buying properties for buy and hold and, in some cases, resale.
In addition, almost all homes we have sold in 2022 have been to Real Estate Investment Trusts or hedge funds, paying the maximum price, purchasing all cash, and not requesting any repairs following an inspection.
With rehab purchase opportunities increasing each week, we are almost exclusively focused on our Value Added Resale strategy for the short term to maximize profit and have placed our Buy and Hold strategy on hold for the foreseeable future. We forecast demand from individual home buyers will cool with increasing interest rates but anticipate no decrease from corporate cash buyers.
Sign Up for Our Real Estate Investor Mentorship Group to Receive Inside-the-Deal Training
If you are looking for tactical knowledge on how to invest in real estate in Dallas or Fort Worth, sign up for our real estate investor group at Let’s Get Paid. Our members receive unmatched mentorship and inside-the-deal real estate investor training that has helped many people like you succeed with real estate investing in Dallas.