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Old 01-14-2008, 11:01 PM
 
11 posts, read 40,130 times
Reputation: 13

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Hello,

My name is Jay. I am moving from St. Louis to Dallas and need in some help from the natives.

I live in the Suburbs of St. Louis currently and would like to relocate to the same type of environment in Dallas.

M current City Limit is:
Dardenne Prairie, Missouri (MO) Detailed Profile - relocation, real estate, travel, jobs, hospitals, schools, crime, news


Being no more than 20 - 30 Minutes / Miles outside of Downtown is Ideal.

Is Dallas like every other major city, or is setup differently as described here?

West ~ is Suburbs - Minimal Crimes
East ~ is the extreme Ghetto
South ~ is Middle Ground, but a working middle class
North ~is the Ghetto as well, but way North is the Burbs

St. Louis has a county and city. The county is fine, but the city limits aren't the best.

Any help would be great. I'd like to find those little towns that are on the verge of a boom, where I can gain alot of equity in about 5 years.

Maybe something for around $200 - $300K, then I could sell for $300 - $450K in 5-7 years. Are bargain deals abound in Dallas?

What pocket city limits or towns are on the rise?

I don't know anything about Dallas at all.

How is Fort Worth comparable?

I don't want the boonies or country, but suburbs with it's own life.

Being able to escape to the city once in a while from my home is how I like to live.

All suggestions would be great.

Last edited by Jay33; 01-14-2008 at 11:52 PM..
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Old 01-14-2008, 11:09 PM
 
162 posts, read 605,374 times
Reputation: 112
Quote:
Originally Posted by Jay33 View Post
Is Dallas like every other major city, or is setup differently as described here?

West ~ is Suburbs - Minimal Crimes
East ~ is the extreme Ghetto
South ~ is Middle Ground, but a working middle class
North ~is the Ghetto as well, but way North is the Burbs
Doesn't describe Dallas at all.
Hard to give a pocket summary, it's a huge city, much depends upon what you're looking for. Most folks will tell you to avoid South of I-30 and west of I-35. The rest is a mixture, with lots of great neighborhoods downtown, uptown, east, and north. And some places in all that you should avoid.

Too many suburbs to list or describe..

Quote:
Maybe something for around $200 - $300K, then I could sell for $300 - $450K in 5-7 years. Are bargain deals abound in Dallas?
There are bargains because housing costs have always remained reasonable. 200-300K will buy you a nice home in many sections. Don't plan on making a 50%+ profit in 5-7 years. Homes historically have risen much more slowly and steadily. Dallas and North Texas have never been an area for that type speculation.
With the recent downturn, is there any place in the country where you could expect to turn that kind of profit?
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Old 01-14-2008, 11:47 PM
 
11 posts, read 40,130 times
Reputation: 13
Miokie,

Thanks for the response. I had attemted to put the link to my city limit up, but the site isn't posting my link correctly.

With the link, I was looking to give responders insight into my area. I'll try again.

Dardenne Prairie, Missouri (MO) Detailed Profile - relocation, real estate, travel, jobs, hospitals, schools, crime, news

For sure there are some pockets out there that you can see a 50% + return on your home in that amount of time. Boom towns do it all the time. That's what Texas is producing right now. Probably one of the Best markets in the nation. It's a Gold Mine there. At least that's what my research is telling me.

Clicking on the link above, or copying and pasting, will provide information on my current city limit.

Any and all help would be greatful. Please refer to the 1st posting.

Thanks
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Old 01-15-2008, 06:34 AM
 
Location: la hacienda
2,256 posts, read 9,326,689 times
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>> For sure there are some pockets out there that you can see a 50% + return on your home in that amount of time. Boom towns do it all the time. That's what Texas is producing right now. Probably one of the Best markets in the nation. It's a Gold Mine there. At least that's what my research is telling me.<<

Interesting. What I've thought of Dallas suburb real estate is that it's slow and steady, there really hasn't been a boom. Inside LBJ (635) is where you will get the most appreciation, will also cost more to get in there initially. A 50% return, I don't know, especially in the suburbs. I'm sure there will be more responses on this subject.
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Old 01-15-2008, 06:42 AM
 
Location: Dallas TX & AL Gulf Coast
6,848 posts, read 11,119,357 times
Reputation: 33408
Quote:
Originally Posted by Jay33 View Post
For sure there are some pockets out there that you can see a 50% + return on your home in that amount of time. Boom towns do it all the time. That's what Texas is producing right now. Probably one of the Best markets in the nation. It's a Gold Mine there. At least that's what my research is telling me.
I'd really be interested in knowing where you've found data in your research to support your statements regarding "boomtowns" and "goldmines" in Texas producing a 50% return... as I've yet to see anything here that supports that theory.
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Old 01-15-2008, 07:02 AM
 
Location: Fondren SW Yo
2,783 posts, read 6,382,199 times
Reputation: 2223
Quote:
Originally Posted by Jay33 View Post
Miokie,



For sure there are some pockets out there that you can see a 50% + return on your home in that amount of time. Boom towns do it all the time. That's what Texas is producing right now. Probably one of the Best markets in the nation. It's a Gold Mine there. At least that's what my research is telling me.
As another poster pointed out, I'd love to see where you can find 50% returns on homes here. The economy is very strong here, but that is because of the steady growth as opposed to the boom and bust cycles you find in California for example. Hopefully you aren't chasing fool's gold in those gold mines you are researching....
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Old 01-15-2008, 10:25 AM
 
3 posts, read 8,397 times
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If you're looking for a quick flip, get rich overnight scenario that is reminiscent of all the [real estate] reality shows on A&E and TLC, then you’re definitely not going to find that in DFW, like you may think you will. Even the 50% return on your investment in 5 to 7 years, is probably just as unlikely.

As others have asked, it would be nice to see where you’ve gotten your research from because we are living here in Texas, and not even seeing what it is you’re claiming that you see. I wish that were the case because I’ve done considerable research within the last two years, and have only come across the potentially lucrative deals once or twice. But, even I knew it was almost too good, and you know what they say about something being too good to be true, it usually is. Fact is, research and the numbers look good on paper, and in theory; but until you’re right there looking at it in person and as an actual resident of the area, you just have no way to know.

Also, keep in mind that each city/state is different. You really have no way of knowing where the ghetto’s & the middle class are, without being there to look at it for yourself. Again, just because it looks a certain way on paper, doesn’t mean it translates that way in person. You simply can’t make value judgments on an area based on what you might see in your part of the country because it limits your possibilities, and won’t meet your expectations.
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Old 01-15-2008, 10:40 AM
 
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To be 20 minutes from downtown you need to stay inside LBJ in the city of Dallas, not in the suburbs. The distance may not be great but the traffic will it an ordeal.
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Old 01-15-2008, 12:59 PM
 
1,518 posts, read 5,044,873 times
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The far-flung suburbs would certainly not yield 50% profit in 5-7 years. The only place to look if you want substantial appreciation is in the City of Dallas south of 635 and north of I-30. North Dallas, as well as Lakewood, and the M-Streets in East Dallas will have very substantial appreciation.

The best place for appreciation is the Park Cities, located about 5 miles from downtown Dallas. Homes there will appreciate at the highest rate. They are also the most expensive. A half duplex goes for about $850,000.

Otherwise, your geography of the city couldn't be more wrong. Generally, south of I-30 isn't very desirable. However, areas like Kessler Park south of I-30 is incredibly desirable. Further, anything south of 635 (but north of I-30), will see the most appreciation.
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Old 01-15-2008, 03:07 PM
 
1,004 posts, read 3,588,234 times
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And the nice thing in Dallas is that you can still get single family homes real close to hot areas like M-Streets for <$100k (!!!) - like 4509 Rusk or 1514 Holly. It's an area that has shacks on one street and $$$ homes on the next.
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