About three years ago, Compass Real Estate agent Phillip Murrell discovered an attractive off-market duplex in the M Streets. He liked it so much, he and his partner bought it.  Then they had to decide whether to seek out a long-term tenant or try the short-term rental market.

“At that point, Airbnb was big but a lot less tested than it is now,” Murrell recalls. “I didn’t know anyone personally who did an Airbnb.”

He initially rented out the bottom unit to a client who needed a place for six months. Upstairs, he began adding consignment furniture along with some of his own. Before long it was time to list the space and see what happened.

“The response was almost instant,” Murrell recalls. “Upstairs we were getting well over $2,700 per month.”

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duplexIf one of your goals for 2019 is to become a real estate investor, you could probably not do much better than the charming duplex nestled between Highland Park and Oak Lawn — and since it’s well under $1 million and already leased, it’s probably one of the easier ways to enter the market.

Located at 3921 Hawthorne Ave., this upstairs/downstairs duplex was built in 1931 — meaning it has loads of character and charm. It’s also been well-maintained and has had many upgrades and updates throughout the property.

Each unit has two bedrooms and two full baths. Gleaming hardwoods throughout both units also make the homes feel light and bright, and attention has been paid to the finishes as well — this is no ordinary rental property. (more…)

The idea of an income property appeals to lots of real estate buyers. If you’re up for the challenge and responsibility, this investment can generate income and build your net worth more rapidly than a single-family property alone. 

In today’s Splurge vs. Steal, we’re looking at two multi-family buildings in Dallas. Both are priced under a million dollars, which makes them somewhat rare in the market. There are pros and cons to each — which income property would you buy if you had the opportunity? 

 

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dallas open houses

The home at 3616 Edgewater St. is one of four Dallas open houses we’re featuring this week in our round-up.

Who needs the holidays to be filled with good cheer when there’s such great real estate on the market?

We’ve rounded up four Dallas open houses for you to visit this weekend. They range in price from $399,990 to $1.199 million, and show a range of inventory on the market now!

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