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Old 03-08-2013, 02:34 PM
 
Location: Simmering in DFW
6,955 posts, read 20,738,735 times
Reputation: 7229

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Quote:
Originally Posted by benhur101 View Post
May be Squirl can help me understand about listing like the following which I found on the web-site you suggested,
http://www.hudhomestore.com; where I found a decent house at 1011 Cheddar Court,Arlington, TX, 76017, for $71,000. This is just one of many. I guess we need to bid for houses like these. Is there anyway we can buy something like this? Will it be worth it? I guess if bidding, then there will be so many people to buy these properties! Also, I think this is a "as it is" buy which makes me think that there must be serious problems with these houses!? What is the difference between this and bank-owned homes? Is there a way foreclosed homes can be bought without bidding? Please help me understand if it is possible.

It will be useful to know about some more safe areas where there are ~$700-800 2-3BR rental properties near good K-5 schools and grocery shops. Kids play areas, parks etc. will be great bonus.

Thanks once again for all the comments.
I strongly advise you don't consider housing in southeast Arlington; the west side is just sooo much better an investment...especially west of Cooper Street. The house on Chedder is EAST of Cooper. That means it will not feed into Martin High School and it wouldn't be an investment I would recommend. You have to be very sensitive to which high school a home will be using for both investment purposes and because the best middle and elementary schools tend to feed into Martin. There are some fabulous deals thru HUD for owner-occupant properties in the Martin HS zone (very important). If I were moving to the area and wanted a bargain, I would check out. 5402 Vermillion Trl Arlington, TX, 76017. Just needs applicances and paint, some affordable repairs; good neighborhood. Make sure the properties are insured for FHA financing.

The difference between bank-owned (also called REO's) and HUD homes (both foreclosures) is that HUD offers affordable financing and gives bid preference to occupant-buyers. As an investor, I never can win a HUD home. But you could. You must bid, and if you want the property you should bid asking price or even higher than asking. The longer the property has been listed the easier to obtain, of course! I normally suggest people rent when they come to a new area. However, if you could find a decent house in SW Arlington that you could get into under $100K, your house payment would be very affordable. If you believe you will be living in the area 5+ years it is something to seriously consider since we are at historically low mortgage rates.

Even for your rent range, I would really, really try Bear Creek area if you want an apartment. Nice thing is the commute into Arlington is better going south in the morning and north at night -- that would be your pattern from Euless.

Last edited by Squirl; 03-08-2013 at 02:48 PM..
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Old 03-08-2013, 05:30 PM
 
Location: Dallas, Texas
473 posts, read 1,959,803 times
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I agree with previous posts about Southwest Arlington. As long as you stay WEST of S. Cooper Street and in areas feeding into Martin High School you should be okay. Get a map from the Arlington Independent School District that shows where the schools are located and what their attendance zones are so you can compare it to homes and apartments you're considering. There are a few apartments in the area - but not many - and I know nothing about them.
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Old 03-09-2013, 03:32 AM
 
16 posts, read 155,094 times
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Thanks Squirl once again and kt2le. Good information. I did not realize the West of S. Cooper Street.

Looks like it would be a better option for me to try to live outside of Arlington. So far, Euless seems to be good option. Any more suggestions and information are welcome
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Old 03-09-2013, 06:46 AM
 
Location: Texas
471 posts, read 744,213 times
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Quote:
Originally Posted by benhur101 View Post
Snuffster, is it possible to park cars in a nearby train station parking lot and take the train to venture into Dallas or FW area? Or is driving into Dallas and FW area a better option? Also how is the commute between Euless and Arlington by car during rush hours?
The Centreport train station is about 5 minutes away south off Trinity Blvd. The commute to Arlington takes only a couple of minutes unless there's a wreck or something. You can see Cowboys Stadium and Six Flags from here. Heck, I ride my bicycle to River Legacy Park in Arlington on the weekends, taking a long route and backroads and get there in 30 minutes. I'm telling you, you will like Euless better than anywhere in Arlington.

BusinessWeek picks Euless as one of the best affordable places in America to raise kids


http://www.wfaa.com/news/local/64560067.html

Last edited by snuffster; 03-09-2013 at 07:05 AM..
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Old 03-09-2013, 07:16 AM
 
Location: Simmering in DFW
6,955 posts, read 20,738,735 times
Reputation: 7229
There's also Mansfield and Hurst (but apartments in Hurst in your price range, I don't recommend). Mansfield is OK, but a longer drive than Euless to N.Arl.

There is also Grand Prairie. Some very nice apartment complexes on the NE edge of Grand Prairie that border N.Arl. But, don't know a thing about schools. You can look for places on padmapper.com and if you find a place to rent, go ahead and then learn about the elementary school by asking here or checking here: Texas Accountability Rating System
then, after you have some apts. you can drop by those schools to look them over before you commit to a lease.
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Old 03-09-2013, 12:13 PM
 
16 posts, read 155,094 times
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Sounds great Snuffster I did not know that.

Thank you both Squirl and Snuffster for your contributions.

Squirl! do you deal with real estate? If so, any good 2-3 BR townhomes or houses for buying in Euless close to schools, shopping etc.? What would be a decent price range? Are maintenance fees high if I were to buy condos? Any information would be useful. I might just rent initially but still would like to know these details if possible. Also, any info on rent to buy homes would also be useful.

Last edited by benhur101; 03-09-2013 at 12:15 PM.. Reason: adding clarity
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Old 03-09-2013, 01:10 PM
 
Location: Simmering in DFW
6,955 posts, read 20,738,735 times
Reputation: 7229
Quote:
Originally Posted by benhur101 View Post
Sounds great Snuffster I did not know that.

Thank you both Squirl and Snuffster for your contributions.

Squirl! do you deal with real estate? If so, any good 2-3 BR townhomes or houses for buying in Euless close to schools, shopping etc.? What would be a decent price range? Are maintenance fees high if I were to buy condos? Any information would be useful. I might just rent initially but still would like to know these details if possible. Also, any info on rent to buy homes would also be useful.
I have been a real estate investor for 30 years in this market. Never, ever even consider rent to own. They are all scams and you could be seriously impacted for years by getting involved in those schemes. Stay away from houses advertised on Craigslist for sale. There are some duplexes that sell surprisingly well in Euless and run in the low $100's.....they are in the very desirable Grapevine school district. You can probably get into a starter single home in Euless for about $120K, anything lower will be in a place you wouldn't be too happy in. Otherwise, condos and townhomes are not the best investment. Recommend you rent an apartment if you don't want to be responsible for a house, or buy a house and pay a lawn service -- that will be cheaper than HOA fees and a better investment. If you don't have the money for a down payment (Mom and Dad can't help??) , even the small down payments needed to finance a HUD home then you should rent a place.
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Old 03-10-2013, 01:27 PM
 
16 posts, read 155,094 times
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Thanks a lot Squirl for all the information.
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Old 11-11-2013, 09:03 PM
 
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I am in the Lake Arlington area, 76016, and this area is very well monitored by our local Crime Watch community. I moved in just months before it formed over here and though the crime rate was low to begin with, it has gotten even lower over the past 5 years. The area feeds into the Young Jr High and Martin High School branch of the Arlington ISD which is one that parents fight to get their kids into during lottery season. Neighborhoods are well maintained and filled with a lot of friendly people.

If you haven't found just the right place yet, come visit our area and see how it feels for you!
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Old 07-27-2016, 04:14 PM
 
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migrating west and north of dallas, will work in irving. single with no kids. want townhouse, etc. to rent. anyone know of anything around $500-700 as i will be at 40k annually. will be on an agressive budget for a couple of years.
anyone have any ideas?

thanks!!
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