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Old 03-11-2010, 10:04 PM
 
236 posts, read 1,203,242 times
Reputation: 118

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Or am I just dreaming?

As some of you know... I am 23. My dad has invested in condos/townhomes in California for my brother when he was in college, for my sister, and for me during college here in Texas.
He then rents them out for a while until the market is good, and he decides to sell and make quite a hefty profit.

He threw out the idea of purchasing one in the given price range and us pay him monthly payments.

We fell in love with the State Thomas area as you know... Manchester brownstones specifically..... I'm assuming there are no townhomes/condos in the price range I mentioned? I really have no idea.

If so, any recommendations? Yeah I post here a lot and have different scenarios every time. Sorry
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Old 03-11-2010, 10:25 PM
 
Location: Knox - Henderson
1,193 posts, read 3,518,476 times
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Sorry, but you are dreaming if you think you can find a townhome in Uptown for that price. The land is too valuable. You could easily find a 1BR condo, however. Maybe even a 2BR condo in one of the older buildings.
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Old 03-11-2010, 10:33 PM
 
236 posts, read 1,203,242 times
Reputation: 118
Aww you killed my dreams.

HAH! It was really something random and spur of the moment. My father's done well for himself with such investments. It's more of an investment opportunity for him than it is about trying to find a place for ME personally.

He's been quiet about his finances, and I kind of just turn a shoulder.

Obviously being 23 and early in my career... it'd be best to rent for a little longer I think. And if something came up... I would think the seller of the home would agree to pay for the breaking of an apartment lease if it meant selling his home.


But thanks. Not really looking to live anywhere too far of the action being in my early 20s. Gotta enjoy it while you're young is what everyone tells me anyway.
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Old 03-11-2010, 10:59 PM
 
236 posts, read 1,203,242 times
Reputation: 118
75204 real estate & 75204 homes for sale | Single family homes,Condos,Townhomes,Co-ops - REALTOR.com®


Interesting....
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Old 03-11-2010, 11:18 PM
 
Location: Knox - Henderson
1,193 posts, read 3,518,476 times
Reputation: 571
Sorry to kill your dream....... Much of 75204 is east of Central Expressway (75). Different world. Not bad, but nothing like State/Thomas. All of Uptown is west of Central, north of Woodall Rodgers Frwy., east of I-35 and south of Blackburn. You won't find any townhomes like what you saw in those pictures for $150k - $250k in Uptown. You will find condos though. I noticed that one of the ones pictured was at the Belvedere on Worthington St. That's a nice building in the heart of State/Thomas. But beware condos. Properties that I was selling for over $200/sq.ft. just a few years ago are now selling for closer to $150/sq.ft. That's not just in Uptown, but everywhere. Condos can be very nice and hopefully prices have hit bottom, so now might be the time to buy one. But, don't expect great appreciation in a condo. Land appreciates. Buildings don't. You'd be better off buying a $250k house in an up and coming 'hood. But, you're right in that you should probably rent while you are young and keep your options open for at least a couple more years.
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Old 03-11-2010, 11:23 PM
 
236 posts, read 1,203,242 times
Reputation: 118
condo es no bueno, as we have a dog
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Old 03-12-2010, 09:02 PM
 
236 posts, read 1,203,242 times
Reputation: 118
3208 Cole Avenue Unit: 1203A, Dallas, TX, 75204 - MLS #11350749 - Condo/Townhome/Row Home/Co-Op real estate - REALTOR.com®


Cole Avenue Units look like they have a decent location...? This is something that would happen 3-6 months down the road really. But I wouldn't say 250k is just dreaming in the uptown area....?
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Old 03-13-2010, 11:45 AM
 
Location: Knox - Henderson
1,193 posts, read 3,518,476 times
Reputation: 571
No, $250k is not dreaming if you can do a condo. But finding a nice townhome at that price is not likely since with a townhome you own the land on which it sits. That building is very well located just a block away from McKinney Ave. As I recall it's only 2 or 3 stories, so no elevator would be involved. I've shown that property before and as I recall it's pretty nice. Again, great location.


Quote:
Originally Posted by andyATMcandy View Post
3208 Cole Avenue Unit: 1203A, Dallas, TX, 75204 - MLS #11350749 - Condo/Townhome/Row Home/Co-Op real estate - REALTOR.com®


Cole Avenue Units look like they have a decent location...? This is something that would happen 3-6 months down the road really. But I wouldn't say 250k is just dreaming in the uptown area....?
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