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McAllen, Texas
I'll be visiting McAllen, Texas next month for a couple days to look at some properties. Will also be visiting San Antonio and Austin while I'm in Texas. Was wondering if anyone has any background information on McAllen such as how the market is doing and also which areas I should focus on or not focus on. How does McAllen compare to markets like San Antonio and Austin? Any information, suggestions and/or ideas will be much appreciated.
From the basic research that I've done it looks like the market is growing and the cost of entry is lower than the bigger cities like SA and Austin. Also the cap rates appear to be higher. My concern is what will the town look like in 5 or 10 years. Will I be able to sell if I wanted to or will it be difficult? I'm looking to buy and hold for the long term and rent out for income.