Looking for advice for good market place in Texas?

Question

I'm looking for advise for where a good market would be currently in Texas ?

Bruce Lynn · Answer

@Mario Reyes I would say, just outside the major cities. Look at the smaller cities that have a chance to grow....just outside Houston, SA, Austin, DFW, maybe even just on the edges of Lubbock, El Paso, Abilene, College Station.

Account Closed · Answer

I operate in Abilene, Killeen, Temple, Waco, and Wichita Falls. Our deals in those areas typically meet 1.5%-2.0% rules depending on the class of the neighborhood. Please let me know if there is anything I can do to help. Thanks

Lydia Bundy · Answer

I've also seen some good deals in Lubbock recently @Tyler Bains, but it also depends on what you're looking for in a market @Mario Reyes. In Abilene where I live, there are some absolutely great options for certain strategies, but for others, this is a bad time to jump in. What cap rate are you looking for? Do you need cashflow? Are you looking for turnkey properties? Are you looking to BRRRR? Are you looking for all-cash? Are you able to qualify for federally-backed mortgages? Are you looking to house-hack? Are you starting a mobile home park? ...there are so many options! Let us know what you're aiming for and we'll help you find it.

Mario Reyes · Answer

I am mainly looking for cash flow properties I would like some turnkey to get started but wanting to do BRRRR for the long haul cash flow is king in because it would be the only source of income at that point what do you guys think?

Tomas Roberto rodriguez · Answer

@Mario Reyes we have been buying in Lubbock.

Finding cash flowing properties with room to BRRR can be a challenge depending on the area and type of rentals you are looking for.

Tyler Bains · Answer

I think Lubbock is a great marketplace currently. I would love to go into more depth with you but we have 3 main driving factors. Education, Agriculture, and Healthcare. Our rental market is extremely solid.

What are you goals/what are you looking for?

Thanks!

What are you goals/what are you looking for?

Thanks!

Alex Grosvenor · Answer

Hey Mario. I think you being a little more specific for what you’re looking to do will get you a lot more answers. Good Luck!

Cameron Tope · Answer

Mario,

Good market for what?

Lydia Bundy · Answer

In Abilene, I see 1-2% rule properties that are tenant-ready from time to time and have at least some cash flow, but you will need to know a lot more about what you are looking for before you dive in. What is your price range? Are you financing your investment? Depending on what you can qualify for, you can look at different options. Will you be managing the properties yourself locally? That makes a difference in cashflow. Some people are fine with a 5% cap rate, but others are looking for 20-60% and different kinds of people are okay with different types of risk. Some people want to take advantage of FHA or VA loans, and others go with commercial, hard money, or pay all cash.

@Wale Lawal has it totally right! While everything looks amazing and shiny at the beginning, and you feel like a kid in a candy store with all of these cool-sounding REI strategies, in order to find "amazing deals" or a "good market," you need to do research and find out what would be right for you in your current situation. For example, if you say you have pretty standard full-time employment with a median salary, a high credit score, low-no debt, money for a downpayment, and qualify for a conventional loan and know that you want a single family property in the $70-130K range that has at least a 9% cap rate, we can help you find a good market for that in Texas. Or we could help you find a good market for something totally different! But if you haven't sorted out your variables, it's hard to find what you're looking for. To misquote someone famous, "If you don't know where you're going, you'll end up somewhere else."

Looking for advice for good market place in Texas?

Looking for advice for good market place in Texas?

Most Popular Reply

12 Replies