Why has Dallas become one of our favorite US real estate markets?
- Texas is ranked the #1 business friendly state in the US. Last time we looked, tenants have an easier time paying the rent when they have a job. And landlords have an easier time paying the mortgage when tenants pay the rent. Jobs are good.
- Dallas is the nation’s 5th largest media market. Hey, we are radio guys.
- Dallas is in the top 10 big US cities where it makes more financial sense to rent rather than own. That means tenants stay tenants longer. Less turnover means less expenses. Less expenses means better cash flow. Cash flow is good.
- Dallas real estate values have held up very well throughout the mortgage meltdown and the resulting unprecedented drop in real estate values across the US. After the last two years of “Drop Zone”, a Merry-Go-Round sounds exciting enough.
- Dallas is only 2-1/2 hours from Belize. Does that count?
- The Real Estate Guys™ TV show is taped in Dallas (Addison actually, but it’s close enough).
- Most rental residential real estate prices are well within the FHA / Fannie / Freddie conforming guidelines. That means it’s easier to get loans. It’s also easier for resale buyers to get loans. Life is easier when you can get loans.
- Our friend, Ken McElroy, says Dallas is one of his favorite markets for the next 5-10 years. And we think he’s well qualified to have an opinion.
- Infrastructure! Centrally located in the US, a huge airport, a great freeway system, on the path from Mexico to the North and Northeast, a big labor force and good higher education. Plus they have an amazing $1.2 billion football stadium. That’s infrastructure, isn’t it?
- Big and diverse economy. Dallas is home to lots of huge companies. But for every huge company, there are lots of little ones that support them.
We could go on, but you get the idea. But why take our word for it? Come to Dallas and check it out for yourself! Reading blogs and looking at stats on the internet is interesting in “student mode”. To get to “investor mode” (where you actually buy, own and manage real estate), you need to visit the market. How long does it take to learn a new market? A lot longer if you go it alone!
Invest a weekend with us in Dallas and we’ll help you compress time frames. We’ll help you get the lay of the land (literally!), explore various sub-markets, meet local experts and service providers; plus we’ll introduce you to some of our key contacts. And no one is going to ask (or pressure) you to buy anything including the next “boot camp” or any specific property. That’s not the way we roll. But if you find something or someone that interests you, you can follow up when you’re ready. Sound fair?
For more information, about the next field trip to Dallas, click here.