I just happened to stumble across a couple of deals in texas, can anyone give me an idea of what the market is like over there. Potential deals are in dallas and georgetown. are there any areas in texas that are more lucrative than others?
Hello,
I’m also looking at Texas right now. Lot’s o choices. This may be too technical, but check it out anyway, I found some useful info. Ryan
http://www.recenter.tamu.edu/data/hs/hs460b.htm
There is a lot of movement going on in and around the Dallas/Fort Worth Metroplex right now. Whether there are deals really depends on what you are looking for. Real Estate in Texas is a lot different from many other states. I see a lot of people from out of state coming in and picking up brand new houses because a retail real estate agent told them it was a great deal, they could get the house with little or no down, and that they could get a Section 8 tenant in there that would stay for a long time. Personally, I would rather buy 3 houses for $73k all with current tenants paying a combined total of $1350 per month than buying a new house at $150k and putting a single tenant in for around $1200. My suggestion would be to find someone that is local to the area that you can build a relationship with. I am a licensed agent and a licensed inspector that works with investors on a daily basis.
I won’t lie and say that part of this isn’t jut a plug for myself and my services, but I see a lot of out of state investors make similar mistakes all the time. The appreciation out here is pretty consistent at around 3-5%. There are properties available that will cash flow or real close to it right from the get go. Don’t be in the red for up to 5 years and hope to make your money on the backside with the appreciation. You will be sadly disappointed. Best of luck to you. Feel free to call or email with any questions that you may have.
Lee Warren