especially from out of Texas, need local representation to avoid
the potential pitfalls of investing in commercial property. While
there continue to be many good investment opportunities in the
Dallas/Ft. Worth area, some Californians, in particular, have
paid too much for some Dallas area multi-family properties and
are suffering negative cash flow.
Out-of-state investors are sometimes not aware of Texas' high
property taxes and how tax assessments work here (e.g., it's a
"non-disclosure" state, but
). Many have also been
surprised by the amount of their utility costs, especially on
all-bills-paid properties. Finding satisfactory management has
been another challenge for some out-of-state investors. I offer
learned advice in each of these areas.
My deep market knowledge and experience includes 15 years
in the D/FW apartment business and 17 years in commercial banking
here. My apartment experience actually goes back farther to 1982
when, while at SMU, I marketed to apartment developers my family's
four-acre homestead near White Rock Lake in Dallas which became
the Oaks White Rock Apartments, developed by the Staubach Company
and once owned by Post Properties.
a third-generation, 46-year lifelong resident with 25 years
in D/FW banking and real estate, I KNOW the various D/FW areas,
which neighborhoods have upside, which ones to avoid, which ones
have become over-priced.