Rental Property Investor · Mesquite, TX · Member since 2017 · 42 posts · 6 votes
Anybody investing in Greenville TX ? Been hearing a long of “growing” opportunity in Greenville, wanted to get some of yalls opinion on the matter. How much growth can we expect ? And how soon will this happen ? I’ve been looking at properties out there and I’ve seen really great prices, just a little concerned about the area.
Hi Jesse, I have several Greenville properties I think the long-term outlook is very good, as growth out interstate 30 continues. I wouldn’t call it booming quite yet, but I do expect to see accelerated growth over the coming decades.
Cash flow can be a better than in the closer DFW suburbs. I would not be afraid of the edge towns around the major Texas metros. The macro trend for Texas is growth at about double the rate of the rest of the US, and some of the suburbs are growing even faster. Greenville is not growing as fast as some, but it will come as DFW moves from 7.6 million to 10 million and beyond in the coming years.
Hi Jesse, I have several Greenville properties I think the long-term outlook is very good, as growth out interstate 30 continues. I wouldn’t call it booming quite yet, but I do expect to see accelerated growth over the coming decades.
Cash flow can be a better than in the closer DFW suburbs. I would not be afraid of the edge towns around the major Texas metros. The macro trend for Texas is growth at about double the rate of the rest of the US, and some of the suburbs are growing even faster. Greenville is not growing as fast as some, but it will come as DFW moves from 7.6 million to 10 million and beyond in the coming years.
I currently live in Greenville and grew up in a nearby, small town and can agree the growth and potential for more is here. last couple years has seen quite a spike in commercial/residential growth and with bigger industries moving in. I am very new to investing and hoping in the next year to acquire 2 homes, one for living and one for renting.
@Akiva May I sold one of my Greenville homes on 12 acres earlier this year before COVID-19. I currently have three Greenville properties under contract to sell now. Also looking to buy, but more carefully. My primary agent says she can hardly keep up, but closings are being postponed. I can’t say that I’ve seen closing prices decrease yet, but I am seeing more back on market, and asking prices reduced.
As far as 100 units plus, there are only a handful in town. What is your criteria beyond size?
@Jon Klaus I find your comment useful, that you are seeing more back on market and asking prices reduced. This would make sense as we would expect a real tightening of credit right now.
I cannot say that I am seeing any real reduction in values down here in Houston either - but I haven't really paid attention to properties going back on market with reduced asking prices. I suspect that is happening here as well. I think we had, until now, a real limited supply and demand was stable. Now the petrojobs are going away and I think in a few months we'll be seeing a much softer market.
We are starting off now in the multifamily space, we are a private investors with a strong capital backing..
We are from ny and looking out of state, I have a team set up in the DFW area so have been looking nearby..
We are looking for a value add play with rents at the lower end of the market, around a 6-7 cap(obvs more if looking at a sub market) with 8% cash on cash. At this point without a foothold in the market, we are not really looking for a strong management play deal of 70% occupancy etc...
Lmk if you can be if any help we are open to all markets for now as long as the numbers and the market make sense