Which one Dallas Suburb would buy into right now

Question

If you wanted to buy a Rental today that was move-in ready $300-350K, which Dallas suburb would you buy into and why? (knowing that the market is starting to balance out), thanks

Curt Riffel · Answer

I think it depends on who your target market is. At that price point I would think Frisco or North Carrollton/The Colony for young families. However being closer to Dallas also has a lot of upside which makes Richardson and Garland nice. I hear a lot of money will be flowing to Garland soon since their prices are lower or better valued depending on how you look at it. For stability I would think Richardson would weather a downturn better than Frisco, Garland, or The Colony would. More mature (older) homeowners in Richardson.

James McCreary · Answer

Hi @Lucia Rushton, investors all have different preferences, as they are people too, just like retail buyers =). Some investors want appreciation, income, country, urban, turnkey, dump. Technically it doesn't really change the game much. For families, Frisco is definitely a spot to consider. To quote one of my teammates from college who moved there, "they have everything here". Keep in mind that there is a ton of construction up there, and not sure how long it will hold out until it turns into a "concrete metropolis", that I fear takes over up and coming areas.

Bart H. · Answer

Plano/Richardson.....basically the corridor to the north of Dallas.

James McCreary · Answer

I lived in Dallas from July 2016 - April 2018. I even did some home prospecting myself. My price cap was $300K, so a bit under yours, but anything mid-cities was a good market. CAVEAT: IT DEPENDS ON WHAT YOUR LOOKING FOR. Nightlife? UptownSchools? Frisco/PlanoLakes? LewisvilleLong Commutes? Fort Worth (because everyone works in Dallas....just kidding, I love Fort Worth!)

So really the answer to your question is first to define a set of criteria. Having a price range is a good start, but you can find a 500 sqft piece of junk downtown or a mansion way out from downtown. Money is flexible. Once you define your top 5 priorites, you can refine your list from there. Heck, even do a pugh matrix for different neighborhoods and then ultimately determine the neighborhood best for YOU and not for anyone else =).

Which one Dallas Suburb would buy into right now

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