The other side of the coin when considering apartments in Dallas is the strength of the entities who own the apartment complexes and buildings themselves. A good many out-of-state investors are now putting apartment buildings up for sale. Consortiums throughout Texas have sprung up to take advantage of this trend, both in the downtown area and in the historic parts of East Dallas and Lakewood, all the way up to the affluent Preston Hollow area. Residents of Dallas and the surrounding area can pick and choose from apartments to suit their lifestyles.
AN ECONOMY THAT HELPS ITSELF
Local investors are pooling money to make cash purchases of 8- to 30-unit complexes. In many cases, these were previously condominium projects that never made it into the real estate market, and are being rented out instead. In many instances the units – if not brand new – have been vigorously refurbished, with updated and upgraded kitchens and bathrooms, often including newer energy-efficient appliances. New or old, Dallas apartments also tend to technologically contemporary, with everything from security systems to surround sound. All one has to do is look around.
FINANCING STILL AVAILABLE
As for the larger complexes, these are also changing hands, with Fannie Mae and Freddie Mac still financing complexes that are smaller than 150 units and are valued between $3 and $8 million dollars. Local ownership is a boon to the Dallas economy. It keeps the money circulating through the local economies, allowing people to find and keep jobs, and so goes the cycle of economic growth. Dallas apartments remain a strong investment as well as an affordable option for those who choose to live and work in the city.