Doug Bailey Real Estate is a family-run real estate agency specializing in residential property management in Dallas, Texas, and its suburbs.
We have been in business at the same location for 25 years and can perform just about any service an owner needs for a single-family house, condominium, duplex or other small rental property.
Typically we lease property on behalf of landlords, collect rent and oversee make-ready and repair. Our charge is 10 percent of rent. We do not charge owners to find tenants as do most people in our business in the Dallas market.
We also list and sell property, consult for a fee, represent landlords in JP court, and perform services for which a broker's license is required. We participate in the North Texas Real Estate Information Network, usually called the MLS, an effective tool for selling residential property and of use in some leasing.
Give us a call if you have questions. During business hours, you will get a person not a machine when you call. Or you can send an email by clicking here .
If you are a prospective tenant
you will find the market disorganized. There is a MLS for houses, condos and duplexes for rent but it covers only a portion of what is available. We manage about 275 residential units but the number available for rent at any given time is usually small. Here is what we have now. If you are interested in one of those properties, drive by and then give us a call. If you want to get inside, we qualify first. You can use this application on our website , we can fax you one, or you can come by our office. There is no fee at this time.If you are a homeowner
trying to decide whether to sell or lease, the conventional rule of thumb for rent is about one percent of the sales value. A house worth $100,000 typically rents in the range of $1,000 a month. This 100-1 ratio declines as the value goes up. A $500,000 house will probably rent for less than $5,000 a month. A $50,000 house usually will rent for more than $500 a month.For most of the past 25 years, single family houses rented in a month or less if priced at market. But the pace began slowing down in 2001. Low interest rates and 100 percent mortgage financing made it possible for people to buy without saving up a down payment and getting a monthly payment similar to rent, sometimes less. The result is fewer qualified people in the rental market and longer lease times for landlords.
If you bought your house in the last couple of years and
paid a market price with 10 percent or less down, you probably cannot cash
flow. You likely will be making up the difference between the monthly payment
and the rent even before repairs and vacancies.
If you are an investor
looking for bargains you know they are hard to find. Rents have been almost flat for five years while prices have mostly moved up.There have been some signs in the past year that the landlord market bottomed out but the Golden Age of the Dallas rent house is gone. We do not conduct searches for buyers, but we can act as your agent if you find something. Go to this page for government foreclosures.If you are looking for a property manager, you may be interested in some of our policies. They grew out of our experience as investors and reflect the way we would want to be treated.
Residential real estate can be a good
investment but it is not for everyone.
Returns are long term, especially cash flow, and by long term we think five years
is just getting started.
We don't know anyone who got rich off rent houses
but here are links to web sites
of some who say you can.
We have made mistakes --
starting with purchases made at the very top of the boom in the 1980's --
but we held on through tough times and now we are cash flowing and expect some financial
help in retirement.
We think the same thing can happen to just about anyone.
You don't have to be smart or even lucky; you just have to perservere.
If you are an inadvertent landlord
trying to cope with hassle you didn't expect, give us a call. We are prepared to step in now and start working, usually without any money up front.Back to top
Equal Housing Opportunity
