If you’re a property investor, you understand that investing in a rental property is clearly different than owning a home or flipping a fixer-upper. Rental properties are more long-term and need certain market conditions that help to decrease the risk of vacancy and optimize cash flow.
Recent market studies show that the Dallas rental market has a 5.6 percent return on investment. Although that’s slightly lower than the stock market average, the good news is considerably less volatile. The research shows that a median investment in a home in Dallas is approximately $199,00, with a mortgage payment of $850, and a median rent of $1600.
Because Dallas has strong economic growth and the real estate market shows healthy appreciation, the area is considered a top place to buy rental property for investment. Last year, the metro area referred to as DFW (Dallas/Fort Worth) saw a 6.2 percent three-year population growth with 3.9 percent job gains over the previous year.
Given the new tax laws that went into effect, January 1, 2019, property managers and landlords also now have distinct advantages not previously enjoyed.
If you’re a rental property investor and you’re a bit overwhelmed by the extent of work involved in caring for rental property (not to mention the new tax laws), maybe you should consider working with a professional property management company.
Cousin James Management is a respected name among property management firms. We have many years of helping property investors enjoy their investments more by easing the burden of managing stress.
We will even help you find new tenants, vet them to be sure they are indeed qualified, then collect monthly rentals, handle repairs, emergencies, property maintenance, and even the down-side of dealing with unruly tenants that occasionally appear on the radar.
Enjoy being a rental property owner more by doing less of the heavy lifting. Let us do that and you can start looking for your next investment property.