Dallas, Texas: A “Loan” Star State

Dallas is the third-largest city in Texas, better known as the Lone Star State, and is considered a modern metropolis located in the northern part of the state. Dallas is also the ninth-largest city in the US with a population of 1.3 million people. It’s broken up into specific neighborhoods known as Central Dallas, East Dallas, and South Dallas.

According to Real Wealth Network Dallas has become a very popular place to invest in buy and hold real estate, which is especially true for investors looking to purchase cash-flowing properties in a rapidly growing market. The median home value in the Dallas/Fort Worth area is about $242,900. According to Zillow home values have grown 5.6% over the past year and Zillow predicts they will rise another 2% over the next year. Another reason the market is healthy and growing is that the job market is growing as well. Department of Numbers reports there are close to 4M jobs available, and in June Dallas added 17,500 jobs according to the CES survey. CES employment records show that jobs are increasing monthly which is great news for the local economy.

Sharestates has been forging new relationships with borrowers in the Dallas metro area and recently funded a few noteworthy projects. Both properties showcased here are residential properties located in the Little Forest Hills neighborhood, which is about 4 miles east of downtown Dallas and has a median home value of $267,996. According to D Magazine, the eclectic mix of both people and houses is its hallmark, but it’s ready proximity to the many attractions of White Rock Lake makes this location hard to beat. For both properties, the borrower had previously acquired and has approved plans to convert the property into additional residential units and square footage. Rehab will consist of new electrical, custom windows & doors, new plumbing, flooring, appliances, carpeting and more. The borrower intends to complete the build-out and either sell at completion/stabilization or refinance into a conventional loan.

 

  • Loan Amount: $401,000
  • Loan Type: Purchase
  • Property Type: Residential
  • Rehab Budget: $421,621 
  • LTV: 50%
  • LTC: 65%
  • ARV: 65%

  • Loan Amount: $364,000
  • Loan Type: Purchase
  • Property Type: Residential
  • Rehab Budget: $322,220
  • LTV: 50%
  • LTC: 70%
  • ARV: 65%

 

For more information on properties we have funded or for more information about our loan programs click below.