At McCaw Property Management, we believe that there are countless ways to make your money grow through investments, specifically real estate in Dallas-Fort Worth, Texas. Of course, this can involve some risks. However, with strategic planning and sound decision making, real estate investing can diversify your assets and boost your income in the long run.
Determine Financial Goals
Before you start investing in real estate, you need to determine your financial goals.
Are you saving up for your child’s college tuition or are you building wealth for your retirement?
Knowing your short-term and long-term financial goals are essential when choosing the property and location to invest in.
Investing in Dallas, Texas
Forbes ranked Texas as the second-best state for business! Specifically, Dallas is one of the best states for investors. It has gotten a significant amount of economic success for years.
The following are some facts that highlight Dallas, Texas’ infrastructures and environment that contribute to its growth in the business sector. Dallas is:
- The market leader in international distribution and logistics hub.
- Home to a world-class international airport boosting its tourism industry.
- Ranked second in the country for robust housing markets in 2017 (CNBC).
- Considered the largest metro in the state of Texas.
- Famous for 6 major sports teams in NBA, NFL, MLB, MLS, NHL, and WNBA.
- Home to the headquarters of some of the largest companies such as AT&T, Exxon Mobil, J.C. Penney, Southwest Airlines and American Airlines Group.
- Proposing a Trinity River Park to be completed in 2022 which will spark more commercial and residential investments in the area.
- Filled with attractions such as the famous Fair Park that houses 8 museums, 6 performance venues and a major sports stadium in Northeast Dallas. Also located nearby is the Dallas Arboretum & Botanical Gardens and many shopping malls.
- Home to 2 major stadiums, a Dallas Zoo and a huge shopping mall called The Parks of Arlington located in Southwest Dallas.
Reasons to Invest in Dallas, Texas
As highlighted previously, Dallas’ tremendous growth can be seen from its solid infrastructures, major facilities, and strong business presence. For the past decade, topnotch firms have been relocating to Dallas, Texas and expanding their businesses.
Here are seven more reasons why Dallas is a good location for your property investment:
1. High Economic Growth
Dallas experienced unprecedented growth over the years with its enhanced transportation hubs, education, and communication industries. This paved the way for renters to have access to different housing options.
A robust economy will attract many people looking for opportunities to work and build businesses. Residential and commercial spaces will be needed as business opportunities flourish.
2. Cost of Living is Low
Dallas has a low cost of living. Moreover, workers have a high pay scale.
This signifies that renters can afford to pay their rent and qualify for higher mortgages because of their financial stability. Additionally, it makes it easier for residents to invest in a property.
3. Employment Opportunities are High
According to Bloomberg, Dallas has secured 661,000 jobs since 2010. In 2017, it was ranked as the number one city for jobs, as reported by Forbes. A quarter of the population also earns an annual average of $100,000.
To add to that, there are plenty of opportunities in the city as 22 Fortune 500 companies have established their presence here. This is a great opportunity for property owners to serve this market.
4. Low Crime Risk Neighborhoods
Safety is always a priority when choosing where to reside. In Dallas, the low cost of living reduces the occurrence of crimes. A low crime rate particularly makes single-family rental homes attractive to the market. Investing in a real estate property anywhere in Dallas is a secure decision.
5. Dallas’ Government Incentives
Texas has formulated a sustainable economic plan that rewards investors with plenty of tax incentives. Cultivating this favorable business climate has cemented Dallas’ growth locally and nationally. A supportive government helps in expanding more investment opportunities.
6. Growing Population
According to Forbes, Dallas is considered the second fastest-growing city in the country. Rent growth is certainly expected and incredible real estate investment opportunities continue to exist more than ever before.
7. Remarkable Airbnb Growth
Vacation properties in Dallas are experiencing growth as well. The Dallas Business Journal analyzed that Airbnb registered a 34% increase in its booked listings.
This tourism growth signifies that numerous visitors will need accommodations. Some investors have taken advantage of this trend by buying properties designed for short-term stays.
The Bottom Line
Dallas, Texas is a vast region rich in economic and financial opportunities. It has strong infrastructure, world-class amenities, urban planning projects, and a positive business environment, attracting both tourists and businesses alike.
As a result, Dallas is one of the most attractive and livable cities. It’s low cost of living, low crime risk neighborhoods, and high employment opportunities will only entice more people to live and work here in the foreseeable future.
If you’d benefit from the services of a professional property management company, give us a call at (817) – 491 – 2553.
