Temple / Killeen / Ft. Hood Texas Market

Buying & Selling Real Estate
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Temple / Killeen / Ft. Hood Texas Market

David Olson
Katy, TX · Member since 2017 · 149 posts · 72 votes

My wife has a close friends who's family moved to Temple TX about a year ago. It wasn't until this past weekend that I began to run a search on the MSA in the Temple / Killeen area. The outlook according to the data I pulled shows a stronger recent job growth, future job growth, population growth, and lower unemployment than the US avg. Price point of entry seems very reasonable as well. I ran some very high-level numbers on potential rents and it seems to fit the model as well. 

I'm impressed enough to want to make the short 2.5hr trip from Katy in order to drive the area and take a deeper dive into what opportunities might be out there. Is there anyone actively investing in the Temple / Killeen area that is active on BP? I did a search but came up short as most of the posts were outdated by a few years. 

If anyone can put me in touch with a realtor, PM, GC or you yourself are willing to chat on the phone and connect please feel free to send me a message! I would love to talk with some like minded investors in the Temple / Killeen area and hopefully meet when I make the drive!

Thanks in advance to those who are willing to chat!

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Account Closed
Rental Property Investor · Temple, TX · Member since 2012 · 42 posts · 31 votes
6y

@David Olson I have grown up in the Temple area and have built a multimillion dollar rental portfolio. I also have land I am looking into developing here. Temple is a great area and has grown a lot since I was younger. I am a GC and investor. My wife has her license and we are great at locating the best deals. I would be glad to sit down with you grab some coffee and talk when you are in town. You, or anyone else interested in the Temple area, can PM me to talk more about it.

I look forward to hearing from you.

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    6y

    @David Olson I've been looking into it myself! I see properties pop up there on the mls that seem to be good deals

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
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    1Reply
  • Staci Taggart
    Member since 2018 · 1 post · 1 vote
    6y

    Hi David and Jordan.  I live just south of Killeen in Georgetown.  I have used a realtor up in the Killeen, Temple Belton area.  I haven't purchased anything (except for a commercial building that we have had for many years).  Her name is Martha Perez with Remax.  It seems that this forum doesn't allow me to post her phone number or email, but you can Google her and it will come up. 

    1Reply
  • Matt Brown
    Rental Property Investor · Nolanville, TX · Member since 2008 · 130 posts · 88 votes
    6y

    @David Olson

    My wife is a realtor in the area (I'm more of the investor and she's the agent, great team) and we've got a great GC we work with. I'll PM you her number.

    1Reply
  • David Olson
    OP
    Katy, TX · Member since 2017 · 149 posts · 72 votes
    6y

    @Jordan Moorhead same here. The more I dig the more it makes sense for me to at least make the trip to meet some local investors, realtors, PM’s etc.

    1Reply
  • David Olson
    OP
    Katy, TX · Member since 2017 · 149 posts · 72 votes
    6y

    @Staci Taggart thanks! I will definitely look her up!

    0Reply
  • David Olson
    OP
    Katy, TX · Member since 2017 · 149 posts · 72 votes
    6y

    @Matt Brown sounds like a fantastic team. Thanks in advance for the contacts! I’m hoping to round up a handful of connections and then take a trip that way to meet some people face to face and drive the area with a few people who are willing to show me around in exchange for a free lunch or dinner or both and hopefully a long lasting connection.

    0Reply
  • Pete Harper
    Rental Property Investor · Streetman, TX · Member since 2018 · 527 posts · 495 votes
    6y

    I’d recommend Ashlyn Runnels with Pelham Group.  She did a great job helping us purchase a 4-plex in Killeen. 

    0Reply
  • Andres I. Cepeda
    Wholesaler · Temple, TX · Member since 2017 · 44 posts · 17 votes
    6y

    @David Olson and @Jordan Moorhead its a great time to invest in Killeen-Temple! I would love to connect with y'all and help any way I can.

    0Reply
  • Account Closed
    Rental Property Investor · Temple, TX · Member since 2012 · 42 posts · 31 votes
    6y

    @David Olson I have grown up in the Temple area and have built a multimillion dollar rental portfolio. I also have land I am looking into developing here. Temple is a great area and has grown a lot since I was younger. I am a GC and investor. My wife has her license and we are great at locating the best deals. I would be glad to sit down with you grab some coffee and talk when you are in town. You, or anyone else interested in the Temple area, can PM me to talk more about it.

    I look forward to hearing from you.

    3Reply
  • Justin Robert
    Investor · Temple, TX · Member since 2015 · 111 posts · 83 votes
    6y

    @Account Closed Just curious, did you ever sell your stuff on Main St. in LRA? 

    0Reply
  • David Olson
    OP
    Katy, TX · Member since 2017 · 149 posts · 72 votes
    6y

    @Pete Harper Thanks for the recommendation. I'll be reaching out soon.

    @Andres I. Cepeda thanks for the PM. I'll reply back shortly so we can begin to chat about the area.

    @Account Closed I'll gladly buy coffee or lunch when I make it that way. Sounds like you have real pulse for the area! Congrats on the large portfolio and I'l shoot you a message shortly. Would love to chat a bit. 

    0Reply
  • Account Closed
    Rental Property Investor · Temple, TX · Member since 2012 · 42 posts · 31 votes
    6y

    @Justin Robert I was offered $100,000+ but I got a drawing of what it could be divided into. If I sold it divided up the lots would be worth $700,000. If I put duplexes or houses on all of those lots the value goes well into the millions. 

    1Reply
  • Laura Sulak
    Investor · Temple, TX · Member since 2015 · 111 posts · 80 votes
    6y

    Hi, @David Olson! Temple is definitely a great place to invest. The market is getting hotter, especially with Austinites leaving the city for a less expensive, quieter place to live. I've lived here over 20 years and know the town well, so I'd be happy to visit with you, too. My properties are all in the historic area of town, so that's my specialty, but there are many great areas to choose from, depending on an investor's strategy.

    Killeen is a tough market. I personally won't invest there and know many who won't, either...lots of tenant turnover and damage to properties.

    We have a great meetup here, wonderful folks, led by @Vern Darlington. You can find more info here: https://www.meetup.com/Masterm...

    Best of luck in your search here, and I look forward to meeting you and your wife, if the opportunity arises.

    @Account Closed

    2Reply
  • Derek Smith
    Rental Property Investor · Waco, TX · Member since 2017 · 28 posts · 21 votes
    6y

    @David Olson

    Real Property Management - Apex.

    Ask for Chris. He’s my PM in Waco and services those areas as well. I see a quite a few people working Belton Co., and I’m sure anything near the Army Base will sustain.

    Feel free to contact anytime.

    Cheers.

    1Reply
  • Account Closed
    Specialist · Dallas, TX · Member since 2017 · 368 posts · 102 votes
    6y

    @David Olson We manage about 150 units in Killeen, its a very saturated market with a lot of investor competition. As a tertiary there is a lot of opportunity for growth by adding more mixed-use and commercial development, we are developing 2 new shopping centers for restaurants and entertainment.   

    1Reply
  • Derek Harris
    Investor · Austin, TX · Member since 2018 · 192 posts · 104 votes
    6y

    Killeen has very high CAP rates. If cash flow is what you are looking for, Killeen is the way to go. As stated above, Killeen has high tenant turnover and evictions. Recently, I am seeing a disturbing trend with people overpaying for multifamily units. Fourplexes are selling for $265-275k. Insane! I own multiple properties in this area and vowed to never buy anything here again. The juice is not worth the squeeze... at least for me.

    1Reply
  • Pete Harper
    Rental Property Investor · Streetman, TX · Member since 2018 · 527 posts · 495 votes
    6y

    @Derek Harris

    I hear you! Those same 4-plex’s were selling for $200k a year ago. That made sense with a monthly cash flow of $2400/month. Now at $265k rents are still at $2400. I’m sitting on the sidelines for now.

    1Reply
  • Andrew Zannotti
    Killeen, TX · Member since 2017 · 127 posts · 91 votes
    6y

    @David Olson I've done 1 BRRRR so far in Killeen and am actively looking for my next to test my ability to do the long distance REI as I am currently deployed from there. I have a realtor that I used for the purchase that bent over backwards to help me out as I did the purchase from Oklahoma while I was in a school and I have use Just Rentals to manage them and they are great and I did the refi through A+ FCU in Killeen. As stated in the thread alot of the prices for stuff is pretty inflated at this point, particularly the newer duplexes and quads and the taxes in Killeen are rough. If you pick the right area and don't mind doing the rehab there are pockets where I think you can do pretty good, at least that's what I took away from my first experience there. If you have any questions feel free to shoot me a message or let me know and I can give you a call when I'm not at work.

    0Reply
  • David Olson
    OP
    Katy, TX · Member since 2017 · 149 posts · 72 votes
    6y

    @Laura Sulak thanks for all the great info!! You take on Killeen seems to be a somewhat common theme from those I've spoken with. Hoping the BRRRR method would work in Temple. My wife's friend lives in Temple and love it there. They did somewhat of a live in flip I believe. Also, I appreciate the meetup link!!

    @Derek Smith Thanks for the info!

    @Andrew Zannotti I am hoping to be able to BRRRR as well. Whether it be a 2-4 or a single family.

    1Reply
  • Andrew Zannotti
    Killeen, TX · Member since 2017 · 127 posts · 91 votes
    6y

    @David Olson that's what I did that with a duplex there. Purchased for 51k and I think I was all in at around 72K, I did a refi at around 75K on a 15 YR note. Rents at $1100 right now because I inherited a tenant and had some confusion about the advertised rent amount on the side I rehabbed but I should be able to get to $1250 at turnover eventually.

    1Reply
  • Dustin Dumbravo
    New to Real Estate · Member since 2020 · 14 posts · 5 votes
    6y
    Originally posted by @Derek Harris:

    Killeen has very high CAP rates. If cash flow is what you are looking for, Killeen is the way to go. As stated above, Killeen has high tenant turnover and evictions. Recently, I am seeing a disturbing trend with people overpaying for multifamily units. Fourplexes are selling for $265-275k. Insane! I own multiple properties in this area and vowed to never buy anything here again. The juice is not worth the squeeze... at least for me.

    If the Killeen juice isn’t worth the squeeze, then where is? I’m looking for my first 4 plex in the Killeen area but agree 265+k for older property is high for the area. I’m definitely interested in the cash flow though. 

    1Reply
  • Joel Pena
    Rental Property Investor · Allentown, PA · Member since 2014 · 15 posts · 0 votes
    6y

    @Michael Chambless hey I'm in the Austin areas for a week if you have time would love to meet up with you and pick your brain... I'm thinking of moving down here but want to get a few investments before I take the leap. Thanks

    0Reply
  • Account Closed
    Rental Property Investor · Temple, TX · Member since 2012 · 42 posts · 31 votes
    6y

    Hey Joel

    Congratulations on taking the first step! I'd be glad to help anyway I can. Send me a PM and we can talk more.

    0Reply
  • Jack Norris
    Rental Property Investor · Los Angeles · Member since 2020 · 9 posts · 0 votes
    6y

    @David Olson

    Just coming across your thread! I've also been looking into remotely buy and hold investing in Temple. I'm curious if you pulled the trigger and how everything is going. Looking to connect with other investors in the area.

    Just PMed you so we can chat more specifics, if you're up for it!

    0Reply
  • Benny Huang
    Investor · Castro Valley, CA · Member since 2020 · 4 posts · 1 vote
    5y
    Originally posted by @Saurabh Patel:

    I am search for a good PM in temple, TX. Any suggestions ?  

    I am searching in Temple area as well.  Curious if you have any luck and insight

    Thanks

    0Reply
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