Newbie looking to start investing in Plano TX

Member since 2020 · 1 post · 0 votes

Talk to me about the Plano TX area. What real estate agents, Property management, and accountants do you recommend? Any tips you want to share?

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Joe FunariBusiness Member
Real Estate Agent · Keller, TX · Member since 2017 · 850 posts · 825 votes
5y

@Megan Farmer

I recommend McCaw Property Management for a good property management. They manage all my rentals in the DFW area. Reach out to @Kyle Mccaw and he will help you out. Regarding accountants they are a dime a dozen. But I recommend the account you select make sure they know how to do cost allocation studies on rental properties. If they can they are investor friendly accountants. Regarding a good realtor make sure you pick one that is also a fellow investor too. Also, they will run both sold and rent comps for you. Last but not least they are willing to run comps a lot and submit offers on a regular basis until you get an offer accepted. This is a sellers market and investor is ridiculously low. So your Realtor needs to have a lot of patience.
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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
5y

As @Joe Funari Be sure the account knows how to do cost allocation studies on rental properties.

another big items to research is, bonus depreciation. It is a form of accelerated depreciation. But instead, it allows you to take 100% of the accelerated benefit and utilize it all in year one of ownership. It's an amazing perk, but it doesn't last forever. In its current form, the full benefit lasts on properties acquired through the end of 2022.

@Megan Farmer Joe is also a great agent for investment properties. Plano is hot due to all the company relocations there. Don't overlook all the neighboring cities where the people may live that work there. You really can't go wrong if you have legit comps.
McCaw Property Management4.4905 Reviews
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