Dallas, TX Multifamily Mortgage

We focus on apartment building financing with short and long-term fixed rates from various sources as well as offering a flexible income documentation option for loans under 2 million. Our goal is to help you achieve your investment objectives in Dallas, Texas.

We specialize in Multifamily Property loans of 5 units or more in all 50 states. Our expertise and financial partnerships will help you get the desired financing through a variety of apartment building financing programs.

Dallas, TX Facts

The city of Dallas is part of the Dallas-Ft. Worth metro area and is the third largest metropolitan area in the state of Texas behind Houston and San Antonio. The main part of Dallas is in Dallas county with portions situated in Collin, Denton, Tarrant, and Rockwall counties.

There are approximately 1.3 million residents in the city of Dallas but there are 7.2 million in the 12 county DFW metroplex according to data last reported in 2016.

Reasons to Invest in Dallas

With a steady rental rate uptick in Dallas, it's has become a lot tougher finding an apartment but that is good news for owners. Approximately 43.8 percent of Dallas Fort-Worth residents are renters. Dallas is considered the fourth biggest employment hub in the U.S behind New York City, Los Angeles, and Chicago.

The major employers based in Dallas are Bank of America, Dallas ISD, Baylor Healthcare System, AT& T, JP Morgan Chase, UT-Southwestern Medical Center, US Postal Service, Texas Instruments, Raytheon, Target, UPS, Parkland Health, JC Penney, Cinemark, Frito Lay, and plenty of others when you factor in major companies located in Fort Worth, Irving, and Arlington.

Major routes for residents to get to work, the local universities, or other places include state highways 183, 121, 75, 190 Interstate I-20, I-30, I-35E, I-35W, I-635, I-45 to name a few. Dallas is just a 3.5 hour drive to Houston and about 15 minutes less if driving to Austin.

Why Dallas is Attractive for Multifamily Investors

Dallas and Fort Worth have been among the top cities for apartment building construction nationwide with rents near record levels ^[1]. The average vacancy rate for Dallas apartment rental is still very low at 3.8% even with all the new multifamily construction.

Solid job growth is forecasted to continue for several years more. Many people who relocate to Dallas for work may have sold their home and thought they would buy a home fairly soon and break their 6-month lease. That is not the case as there's huge demand for single family homes which results in qualified homebuyers ending up renewing after six months at a higher rate.

There's excellent growth in job and population along with fairly consistent development. Locations to invest include the North Dallas suburbs of Frisco and McKinney, which are part of the 15 fastest-growing cities with 50,000 or more people. In East Dallas, Larkspur Capital Partners is building a complex of 54 townhouses and over 30 apartments at Live Oak Avenue and Bennett Street.

This is all good news to multifamily buyers. As of Q2 in 2017, the average rents for a 2-bedroom are $1391 ^[2] to $1018 for a one-bedroom. The average rents are increasing due to demand and new apartment buildings fetching a higher rental price than an older building built decades ago.

In summary, Dallas is a key market for growth to acquire an apartment building. Our multifamily financing options also include student housing buildings, senior living, or mobile home parks that meet investor guidelines.

 

 

 

 

 

[1] - Source: "DFW Apartment Boom Hits Region". Dallas Business Journal. July 1, 2015.

[2] - source: Rent Jungle as of April 14, 2017