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Old 02-24-2013, 01:36 PM
 
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Hi all,

I will be moving to Dallas this fall and will be there for 8 years. I've done a few searches and many suggest not buying in the area surrounding the medical center. Are there any neighborhoods with properties (1-2 bedroom) that are <$85,000 that anyone would recommend looking into? I'd rather not rent for 8 years.

Thank you!
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Old 02-24-2013, 02:50 PM
 
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It's not worth it to buy an $85k property in Dallas. You're buying into undesirable neighborhoods riddled with crime, drugs, and poverty. It's unlikely to be an easy property to unload when you're done with it.

Just rent and live frugally. You will probably come out ahead, net worth-wise, at the end of your program.
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Old 02-24-2013, 03:37 PM
 
Location: Texas State Fair
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The area nearest to the UTSouthwestern area is not necessarily a preferred area. Some may recommend it, personal values vary. Just east of SW is the area called Oak Lawn. It is slowly being refurbished with new townhomes, well out of your mentioned price range. Just across Lemmon Ave - to the east (or it could be north) - is called North Oak Lawn, bounded by Lemmon Ave, Hawthorne, Oak Lawn Ave. There are a few streets in that area that have older condo's that may be of interest to you. Prices will vary depending on age, style, and condition. You may find some 1 or 2 BRs. You might want a realtor to make a search or drive by looking for signs in the yard.

Don't expect much return on investment with a condo, if any. Holland Ave is probably one of the nicest of the streets, though Herschel, Prescott, and Hawthorne would be the most preferred. Those streets have old and outstanding duplex homes, but you're not going to get one of those. Oak Lawn is an easy commute to UTSW and has historically been home many UT professionals.

Good luck, enjoy your stay
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Old 02-25-2013, 09:24 PM
 
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What others said--you cannot afford anything worth buying close to UTSW. If you are a female, I would especially caution against living in some of those areas. Renting is going to be your best bet.
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Old 02-26-2013, 04:00 PM
 
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Are there any areas around Dallas (e.g. Irving) that would have properties worth buying with the 85k limit?
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Old 02-26-2013, 04:06 PM
 
Location: North Texas
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Quote:
Originally Posted by Dabo S View Post
Are there any areas around Dallas (e.g. Irving) that would have properties worth buying with the 85k limit?
Not unless you want to live in a really crappy neighborhood or buy an apartment or condo, and I would strongly advise against that unless you want to become a landlord. Just rent.
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Old 02-26-2013, 04:30 PM
 
Location: Texas State Fair
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A single family home in the 85k price range would be in a typically undesirable neighborhood or in extreme disrepair, or both. You might find a condo or townhome in Irving or there abouts in that price range but as with above posts, you will NOT expect to make a gain in investment. Excepting perhaps to maintain as a rental property. There are some potentials in buying, but generally not wide spread.

I will add, I did make that unexpected gain when selling my condo in Oak Lawn. I was fortunate to have made the decision to sell and cleared closing only within a short period of time prior to the Country Wide collapse.
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