วีดีโอ

It depends on your situation and why you are buying. For example 1031 exchanges are still going to happen. If you have a lot of excess capital to deploy it’s not a bad time either or if you find a subject 2 deal or seller financing deal. I also think house hacking for someone who wants to get their first home and rent out rooms is still a great strategy that works in this market. As far as a traditional 20% down with a 7% rate investment property for long term renting you’ll be hard pressed to find something that works but with some homes sitting on the market you could probably find something that isn’t terrible if you looked and offered below asking. Anything you would do right now I’d buy as a long term play 5-10 years minimum that provides cashflow ideally, just because we don’t know where things are going.

I agree affordability right now is really bad, but I don’t know if your median household income is accurate that data is from 2020 and we have seen the worst inflation in our country in over 40 years over the last 4 years. The average wage for a listed job today has a salary of $77,000 in DFW, many people today who can afford to buy a home are going to be two income households (unfortunately) so most home buyers in todays economy are probably around 140k+ earned. You probably need to earn around 110k today to buy a 400k house with a 20% down payment, but could buy with as little as 80k income if you carried no other debt. From my experience many buyers in today’s market are bringing equity and not taking on large mortgages but that isn’t always the case, I’ve helped people with above the median buy homes with only 3.5% down, this is the least friendly market for first time homebuyers who don’t have equity to bring and usually have lower income since they tend to be younger. Another option is rate buydowns a lot of new builders are offering 5-6% interest rates for a permanent rate, which for a 300k mortgage would be $1700 payment prior to taxes and insurance. We definitely need some relief in costs it’s probably going to come from a combination of increasing incomes, lower rates over the next year, smaller homes being built to make them more affordable (this is already happening, avg sqft has shrunk for the first time since the Great Recession), and maybe some price reductions over the next year or two (although historically home prices are incredibly sticky) without current homeowners having distress and having to sell it will be difficult for home prices to drop substantially, and prices did drop the year rates began going up already. I think worst case scenario home prices drop 3-8% over the next year if rates don’t come down quickly enough (we probably need rates to drop a good 1% over the next year to prevent that). That’s just my speculation though, so many factors involved in home prices and any unforeseen events could knock things completely off course. It’s ironic in 2020-2021 we actually had a more affordable time to buy than in 2011 but everyone was so concerned about the prices of the homes they didn’t realize it and now we are on the other end of it. We likely won’t see rates at 3% and under again in our lifetimes since it was done only because of Covid lockdowns the best we could hope for is probably 4.5% on the low end.

@@DallasTexasSuburbs DFW median household income is $83k - yikes Its the same here in Austin. Avg cost of a new home in Travis / Willamson county is $425k. Median income is low $80's.

Yeah I’ll get on it! Keep an eye out for a few of them over the next couple weeks!

So you think the alternative of letting the property fall into ruin and being unlivable is a better solution than me reinvesting my money into fixing it up and providing housing for low income families? The rent on this place is well below the median, I even say in the video I rent a little below market rent to attract a better tenant. Everyone who works for a living profits, if we didn’t nobody would be able to survive I’m sorry if that offends your communist sensibilities.

Thanks for watching! September can be pretty hot I agree, but late September until about mid or late November is my favorite time of year once it starts cooling down. Really depends on the year how long the summer heat lasts and location plays a big role to, I’m up here in Dallas though so usually be mid September it’s more in the low 90s and high 80s by September.

Texas doesn’t even rank in the top 5 states for water shortages, it’ll be long after we are all dead before Texas experiences any significant water shortages. Projections put us at having 3 million less acre-feet per year of water by 2070 based on how we are currently handling the situation and that still leaves us with 14 million acre-feet, but it doesn’t take much to improve water supply simply build more reservoirs which with more people should be easy enough. Speaking of which east Texas is experiencing higher than normal rainfall this year and the lake where I live is overflowing right now to the point that the boat slips are unusable and the fishing dock is entirely submerged in water. It’s at a higher level than it’s been since 2014. We are hardly in a situation like California or Arizona when it comes to water issues, I don’t control who moves to Texas though I’m just here to provide information and help people who want to. 🤔 Wonder who died and made you king of Texas though.

@@DallasTexasSuburbs we have children, they have children and so no. Because narcissist people only care about themselves. So they don’t care about anybody else’s future but their own. And I’ve lived in Texas since I was born 60 years ago and yeah we’re running out of water.

Yes, unfortunately I don’t know if that will happen without some black swan event, likely wage inflation and interest rates going back down will make homes more affordable than they are for entry level buyers over the next few years but as far as pricing itself dropping it doesn’t seem likely. Wages have been and will likely continue to rise slowly to start meeting the inflation trends though, as long as inflation doesn’t just keep going. Really we need rates back down around 4-5% and a few years of wage growth with low inflation to get back to a more realistic market for buyers who depend on loans.

Thanks for watching!

The soil in all of DFW is on clay (and a lot of east Texas in general) so foundation issues are more common here than other parts of the country. Not sure you if you mean the colony is worse than other parts of DFW or just the DFW area in general. That being said foundation issues aren’t very difficult to address and because they are common it’s relatively affordable to fix them especially if you catch it early. I have had foundation repairs on two of my rental properties and haven’t had issues since doing them.

Forney has a few pros and cons but overall I think it is a great place to buy. A few pros are it’s affordable and mostly new builds going in, it’s close to Dallas compared to anything comparable in price you would buy on the north end, it’s close to Rockwall and Lake Ray Hubbard which are great areas, and it’s growing fast a lot of great amenities are starting to be built there. Cons are traffic is getting worse right now because it’s growing so fast and the roads are being redeveloped to account for it, a lot of the affordable homes were bought by investors and made into rentals so some of the new communities are a little saturated with renters right now (HOA’s there started limiting whether you can rent your home to combat it), and it’s still continuing to develop so local amenities and entertainment aren’t the best, but it’s close enough to Dallas and rockwall it’s not a big deal. If you need help finding a home here in DFW feel free to text or call 469-588-1885 there are a few other options similar to Forney you might want to consider.

Thanks for watching!

Rent prices for apartments specifically are probably going down or at least remaining flat here in DfW in the coming year due to an oversupply, but that oversupply is only going to last through 2025 at the latest before we have an undersupply going forward and rents from 2026 will increase pretty fast from then. Reason being we had a lot of new starts for apartments during the pandemic and those are all finishing right now, but 2022 interest rates going up stopped most new apartment construction that supply would have entered the market around 2025 and 2026 but there won’t be any so probably late 2025 and early 2026 we will see rents go up. On a side note we won’t see new starts in apartments until interest rates drop under 5% most likely which as of now most people don’t predict happening until end of 2025 at the earliest

Thank you so much for such a quick and detailed reply 🙌🏾 Praying rent prices go down as you have predicted 🫡

@@user-xt8fh8ir7t Yes, its all fighting against inflation at the same time though so while actual rents may stay the same, inflation and wage increases will effectively reduce the rents. In the long run rents will always go up just because of how our economy is setup with the fed encouraging inflation regularly, so if you can set yourself in a position to be able to buy, 10 years in the market and you'll realize how powerful ownership is. There will always be ebbs and flows in values and rents while they mostly just go up occasionally do go down (especially if you are in a stagnating or dying market), but long-term owning assets, land and property is the only sure way to win. Now is a hard time to buy though with interest rates being as high as they are so I know for many people its not even a possibility, but if you can make sacrifices and save some money, get your credit in the right place and get into a starter home in the long run it'll be worth it. If you are willing & able to, renting out your spare rooms once you buy is a great way to build wealth and reduce your expenses and save up for more property or investments as well. Its something my wife and I did when we owned our first home and it really accelerated our networth. It sucks having roommates but living rent free makes it worth it in the long run.

I’m not sure which ones, but poor construction is something to look out for with all builders. A good realtor can help you avoid working with builders who have bad craftsmanship. I’d start with always walking the current builds on a lot and see how their construction is, don’t work with a builder who bars inspections during construction and before closing, and pick a builder that has favorable reviews. Also always get structural inspections whenever possible throughout the process trusses are a big one where mistakes are made. I’ve heard horror stories with new builds in every state especially a lot coming out of Arizona lately but that is always the risk with new builds, heck even pre-existing can have these problems but a lot of them are usually addressed by the time they are resold to a degree.

Thanks for watching! I will try to get a video out for you next week on Wylie, if you want personalized help and one on one information feel free to give me a call or text at 469-588-1885 It sounds like you are still in the planning phase so no pressure but I’d be happy to answer any questions you have as they come up!

Thanks for the additional details! I give my best perspective being a relative newcomer and having the experience of being on the west coast growing up. It is wild the things people from Washington think about Texas though without ever going. I’ve only been to Houston, Austin & San Antonio a few times but when I first moved we visited in July to experience the worst of it, weather definitely varies though, my experiences in Austin it’s been a bit more humid than Dallas every time I visit but it could just be bad luck as I have only been 5 times or so and usually in spring or fall outside of my first trip in July, Dallas seems fairly dry except after heavy rains it can get muggy the next day. Housing is definitely not as cheap as it was even when I first moved here. The house I bought in the colony just 3 years ago has almost doubled in value already. Thanks for watching!

Georgetown is a beautiful city! I haven't had the chance to visit yet but the pictures look great, I'll have to check it out next time I'm near Austin. Thanks for watching!

That’s interesting I never would have guessed that! Thanks for watching!

Glad you enjoyed it! I got the shelf from Tribesigns they sell all sorts of cool furniture.

Thank you, I appreciate it! I've got more to come soon, going to get out there and do some property tours and spotlight some of the newer communities being built here in North Dallas.

Shoot me a text or give me a call at 469-588-1885 if you are still trying to find a good agent to help you out there. I’d be happy to talk over your needs and connect you with a great agent that works that area.

Glad you’re enjoying the content! I am a relative newcomer to Dallas having only been here about 6 years now. I agree the toll roads can be a huge pain especially if you need to get somewhere on a tight schedule, it hurts the most whenever I have to head into Fort Worth during rush hour and it’s $15 to go on the toll road and half the time it’s not even faster. One reason I haven’t said much about them is because in most cases you do have alternatives even though they aren’t ideal and I came from Washington state where toll roads were introduced onto outdated and pre-existing roads and contracted out where most of the funds collected went to private firms rather than to improving the infrastructure. They actually turned two lanes on a 4 lane freeway into a toll road on an already congested freeway. So at least in most cases tollways built here in DFW are actual new infrastructure vs old roads with electronic tolls thrown on them. I must admit I haven’t looked into the specifics here about how corporate firms profit from the tolls here it sounds like it might be a similar situation to how other states operate. It does seem like tollways are inevitable in every major metroplex at this point and they are littered across the east and west coast already, which is unfortunate because it’s a pretty regressive way of taxing people, if it was up to me everyone would be driving on the same roads paid for by taxpayer dollars and if we needed new roads we would levy more gas taxes or tax oil exports to cover it.

Amarillo is great, some of the best steak in the country to! Thanks for watching!

I'm glad you enjoyed it! Thank you for the kind words!

Glad you enjoyed it! Thank you for the kind words!

Thanks for the clarification, it is definitely associated with them now but I like to think of Waco as the home of Dr. Pepper.

Thanks for the details! There is a show called Halt and Catch Fire that is a fictionalized account of computer engineers working in Dallas-Fort Worth and drew on the creators childhood living in Silicon Prairie which was super interesting to watch, a lot of people don't know how instrumental Dallas is as a technology hub in America.

Fair enough, I have only lived in Dallas in my 5+ years here but I can only compare to my experiences elsewhere and I definitely witnessed much more racism in my time living in both Washington state and in New York so I am mostly commenting on the fact that Texas and Dallas specifically isn’t any more racist than anywhere else in the country. Racism exists everywhere though.

Haha. That would probably be Houston since they have the Houston Texans :) Although Dallas has a lot of Eagles fans

Fewest number of Cowboys fans.