Searching for a career? (Dallas: for sale, real estate market, new house)

[Winnett2352]

I am 22 years old, and im a manager at a local business in akron ohio, i feel that i want alot more, ive invested in stocks for the past few years, but now im looking into starting my own house flipping business, and i would love to relocate to Dallas, Texas, or any surrounding city, in Ohio the real estate market is dropped very low, no ones buying anything. I recently took a trip with my father to Forth worth, and stayed for 4 days with my father, we went for the dallas cowboys game, and we had the best time..It my dream to live successful in the big city, if done right can I make good money in buying, remodeling, and re-selling properties in the state of Texas????? Thank you for any help you can give me.. and if there is any other city or state where house flipping has a big market please reply.. thank you

[rb4browns]

Originally Posted by Winnett2352

I am 22 years old, and im a manager at a local business in akron ohio, i feel that i want alot more, ive invested in stocks for the past few years, but now im looking into starting my own house flipping business, and i would love to relocate to Dallas, Texas, or any surrounding city, in Ohio the real estate market is dropped very low, no ones buying anything. I recently took a trip with my father to Forth worth, and stayed for 4 days with my father, we went for the dallas cowboys game, and we had the best time..It my dream to live successful in the big city, if done right can I make good money in buying, remodeling, and re-selling properties in the state of Texas????? Thank you for any help you can give me.. and if there is any other city or state where house flipping has a big market please reply.. thank you

Who needs the Cowboys when the Browns are playing so well! Seriously though, the housing market in Dallas is one of the most stable in the country. With a few exceptions, houses do not go up in value here enough to make real money. Besides, with home prices falling house across the country flipping sounds like a rather poor career choice.

[FarNorthDallas]

In the past, houses in my Far North Dallas neighborhood were great for flippers, but the last 3 are still sitting on the market for sale. They were purchased low, remodeled and ....no sale. Now, may not be the right time for flippers.

[Willys]

This is probly a good time to get ready to start flipping DFW and other great cities in Texas. The market will pick up soon, prices will be adjusted and there's houses all over the place that need some fixin up.

Good luck and welcome to Texas...

[unexpected]

Dallas could not be any worse for flippers.

Dallas is a major metropolitan area, with a high population, but we have an amazing road system. As such, it's been really easy for Dallas to grow out. and expand. Prices don't really escalate, because there's not that much difference between one area and another.

In other markets, space is limited. Certain areas are really close compared to others, so they become valued more. There's a lot more constraints on the market.

If you look at the boards, you'll see a variety of people just wanting to buy new houses. Look at all the suburbs people are talking about. The dallas sprawl is basically endless.

Numbers back up this view too. Even though the bubble has "burst", Dallas prices haven't dropped that much. Houses are available and haven't sold, but their prices haven't dropped. If I recall, average appreciation is around 2% for the residential market in the Dallas area. Not really a space for flipping.

If you want to come to the Dallas market, I suggest trying to get a job with a commercial broker. That's where the real money is at. I don't know what your background is, but if you can get your foot in the door, that would be a lot easier and you'd be able to learn the ropes and the area a lot better. Coming in blindly without knowing where to buy is a recipe for disaster.

[nativeDallasite]

Originally Posted by unexpected

Dallas could not be any worse for flippers.

Dallas is a major metropolitan area, with a high population, but we have an amazing road system. As such, it's been really easy for Dallas to grow out. and expand. Prices don't really escalate, because there's not that much difference between one area and another.

In other markets, space is limited. Certain areas are really close compared to others, so they become valued more. There's a lot more constraints on the market.

If you look at the boards, you'll see a variety of people just wanting to buy new houses. Look at all the suburbs people are talking about. The dallas sprawl is basically endless.

Numbers back up this view too. Even though the bubble has "burst", Dallas prices haven't dropped that much. Houses are available and haven't sold, but their prices haven't dropped. If I recall, average appreciation is around 2% for the residential market in the Dallas area. Not really a space for flipping.

If you want to come to the Dallas market, I suggest trying to get a job with a commercial broker. That's where the real money is at. I don't know what your background is, but if you can get your foot in the door, that would be a lot easier and you'd be able to learn the ropes and the area a lot better. Coming in blindly without knowing where to buy is a recipe for disaster.

I second that. Dallas does not seem to be a great market for flippers.