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User Stats

15
Posts
8
Votes
Bobby Eastman
  • Dallas, TX
8
Votes |
15
Posts

Any suggestions for people to contact for investing in the Sherman/Denison TX area?

Bobby Eastman
  • Dallas, TX
Posted

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area. I am also open to partnering on a transaction.  Can anyone suggest and agent or property manager that can help me with this? Any advice would be appreciated.

User Stats

67
Posts
92
Votes
Michael Calvey
Pro Member
  • Head of Sales at BiggerPockets
  • Denver, CO
92
Votes |
67
Posts
Michael Calvey
Pro Member
  • Head of Sales at BiggerPockets
  • Denver, CO
Replied

Hey Bobby - Have you tried contacting an agent in that area through the Find An Agent feature with BiggerPockets? https://www.biggerpockets.com/agent/match 

Check it out. The entire goal is to help you / individuals like you who are interested in a finding an agent who works with real estate investors. In the Dallas area, there are a handful of great agents you'll find through this feature. 

  • Michael Calvey
  • [email protected]
  • User Stats

    3
    Posts
    0
    Votes
    Noel Cobb
    • Real Estate Agent
    • Sherman Texas
    0
    Votes |
    3
    Posts
    Noel Cobb
    • Real Estate Agent
    • Sherman Texas
    Replied
    Quote from @Bobby Eastman:

    I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area. I am also open to partnering on a transaction.  Can anyone suggest and agent or property manager that can help me with this? Any advice would be appreciated.


     Hey Bobby, I am a Realtor and Sherman local. I work with a lot of investors in the Sherman/Denison area to acquire properties. If you'd like to, let's jump on a call to see if we'd be a good fit to work together.

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    User Stats

    15
    Posts
    8
    Votes
    Bobby Eastman
    • Dallas, TX
    8
    Votes |
    15
    Posts
    Bobby Eastman
    • Dallas, TX
    Replied
    Quote from @Mike Calvey:

    Hey Bobby - Have you tried contacting an agent in that area through the Find An Agent feature with BiggerPockets? https://www.biggerpockets.com/agent/match 

    Check it out. The entire goal is to help you / individuals like you who are interested in a finding an agent who works with real estate investors. In the Dallas area, there are a handful of great agents you'll find through this feature. 

    Thank you very much Mike. I was unaware of that feature but will check it out.

    User Stats

    2
    Posts
    0
    Votes
    Pete Arterburn
    • Investor
    • DFW
    0
    Votes |
    2
    Posts
    Pete Arterburn
    • Investor
    • DFW
    Replied

    Hey Bobby - We have a property in Sherman and quite a few in and around the area.  Let me know, what you are looking into.  I would love to connect.  Thanks!

    Pete Arterburn

    User Stats

    56
    Posts
    26
    Votes
    Eric W.
    26
    Votes |
    56
    Posts
    Replied
    Quote from @Noel Cobb:
    Quote from @Bobby Eastman:

    I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area. I am also open to partnering on a transaction.  Can anyone suggest and agent or property manager that can help me with this? Any advice would be appreciated.


     Hey Bobby, I am a Realtor and Sherman local. I work with a lot of investors in the Sherman/Denison area to acquire properties. If you'd like to, let's jump on a call to see if we'd be a good fit to work together.

    What would you estimate the average rent to be on one of the smaller new builds say in the high 280s a 3bd/2ba. I live in Denton co and have been casually interested in starting to look for a real estate investment. 

    User Stats

    18
    Posts
    6
    Votes
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    6
    Votes |
    18
    Posts
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    Replied

    Hi Bobby, I'm the ops manager for the Property Management Division at Milestone Premier Properties and a licensed realtor and investor.I actually live in Denton too butour brokerage is based in downtown Denison where I commute 2x a week. We manage 275 residential properties with the majority of those in Sherman/Denison so I feel uniquely qualified to chime in.

    Generally speaking, 3 to 4 bedrooms are the most popular and for a new build, they will lease anwhere between $1600 - $2200 depending on the area, size and amenities. Garage parking, full privacy fence, and second living area or bonus room would all be needed to get on the higher end of that range. Truthfully, it's hard to get more than $1800 unless you have all the bells and whistles. 

    I am happy to hop on a call to share more of my local expertise and if you're still looking for professional property management, I can talk to you more about that. Just let me know!

    User Stats

    18
    Posts
    6
    Votes
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    6
    Votes |
    18
    Posts
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    Replied

    @Eric W. - Thought you might want to check out my response to this original post too. 

    User Stats

    56
    Posts
    26
    Votes
    Eric W.
    26
    Votes |
    56
    Posts
    Replied
    Quote from @Cecilia Hagan:

    @Eric W. - Thought you might want to check out my response to this original post too. 

    Hey thanks for that. Good information! How difficult or easy has it been to get tenants secured in that area? I’ve not drove up to Sherman yet so didn’t think much of it until I started reading about the chip factory going in. We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it. Sherman does seem interesting though because of the lower cost and growth potential. 

    User Stats

    24
    Posts
    11
    Votes
    Alex B.
    11
    Votes |
    24
    Posts
    Replied
    Quote from @Pete Arterburn:

    Hey Bobby - We have a property in Sherman and quite a few in and around the area.  Let me know, what you are looking into.  I would love to connect.  Thanks!

    Pete Arterburn


     Hi Pete, are there any areas around or within Sherman that you would recommend? 

    User Stats

    18
    Posts
    6
    Votes
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    6
    Votes |
    18
    Posts
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    Replied
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:

    @Eric W. - Thought you might want to check out my response to this original post too. 

    Hey thanks for that. Good information! How difficult or easy has it been to get tenants secured in that area? I’ve not drove up to Sherman yet so didn’t think much of it until I started reading about the chip factory going in. We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it. Sherman does seem interesting though because of the lower cost and growth potential. 

    Hey Eric - so sorry for the delayed reply. I'm going to be checking my BP more regularly. To answer your question, if the home is priced at market rent, we are seeing our rentals lease out in 25 days. The most recent numbers I pulled for Sherman and Denison SFH shows that the avg DOM for leases are right around 50.

    I hope this helps!

    User Stats

    56
    Posts
    26
    Votes
    Eric W.
    26
    Votes |
    56
    Posts
    Replied
    Quote from @Cecilia Hagan:
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:

    @Eric W. - Thought you might want to check out my response to this original post too. 

    Hey thanks for that. Good information! How difficult or easy has it been to get tenants secured in that area? I’ve not drove up to Sherman yet so didn’t think much of it until I started reading about the chip factory going in. We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it. Sherman does seem interesting though because of the lower cost and growth potential. 

    Hey Eric - so sorry for the delayed reply. I'm going to be checking my BP more regularly. To answer your question, if the home is priced at market rent, we are seeing our rentals lease out in 25 days. The most recent numbers I pulled for Sherman and Denison SFH shows that the avg DOM for leases are right around 50.

    I hope this helps!

    Hey, would you say are there opportunities to find decent cash flow properties with say 20% down but also using property management? Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  

    User Stats

    18
    Posts
    6
    Votes
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    6
    Votes |
    18
    Posts
    Cecilia Hagan
    • Property Manager
    • Denton, TX
    Replied
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:

    @Eric W. - Thought you might want to check out my response to this original post too. 

    Hey thanks for that. Good information! How difficult or easy has it been to get tenants secured in that area? I’ve not drove up to Sherman yet so didn’t think much of it until I started reading about the chip factory going in. We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it. Sherman does seem interesting though because of the lower cost and growth potential. 

    Hey Eric - so sorry for the delayed reply. I'm going to be checking my BP more regularly. To answer your question, if the home is priced at market rent, we are seeing our rentals lease out in 25 days. The most recent numbers I pulled for Sherman and Denison SFH shows that the avg DOM for leases are right around 50.

    I hope this helps!

    Hey, would you say are there opportunities to find decent cash flow properties with say 20% down but also using property management? Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  

    To be completely honest, there's not much right now that will give you decent cashflow without getting into a full rehab. We have seen a lot more of our investors selling their rentals than ever before in our 5 years as a company due to increasing costs across the board. 

    Thankfully for us, we are seeing a lot more accidental landlords who aren't able to sell at the price they want and want to rent for a year or two until the market turns around. 

    Not sure if that really helps! 

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    User Stats

    56
    Posts
    26
    Votes
    Eric W.
    26
    Votes |
    56
    Posts
    Replied
    Quote from @Cecilia Hagan:
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:
    Quote from @Eric W.:
    Quote from @Cecilia Hagan:

    @Eric W. - Thought you might want to check out my response to this original post too. 

    Hey thanks for that. Good information! How difficult or easy has it been to get tenants secured in that area? I’ve not drove up to Sherman yet so didn’t think much of it until I started reading about the chip factory going in. We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it. Sherman does seem interesting though because of the lower cost and growth potential. 

    Hey Eric - so sorry for the delayed reply. I'm going to be checking my BP more regularly. To answer your question, if the home is priced at market rent, we are seeing our rentals lease out in 25 days. The most recent numbers I pulled for Sherman and Denison SFH shows that the avg DOM for leases are right around 50.

    I hope this helps!

    Hey, would you say are there opportunities to find decent cash flow properties with say 20% down but also using property management? Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  

    To be completely honest, there's not much right now that will give you decent cashflow without getting into a full rehab. We have seen a lot more of our investors selling their rentals than ever before in our 5 years as a company due to increasing costs across the board. 

    Thankfully for us, we are seeing a lot more accidental landlords who aren't able to sell at the price they want and want to rent for a year or two until the market turns around. 

    Not sure if that really helps! 

    Thanks for this. Reinforces the reality I thought we were living in vs what my landlord friends who bought in 2020/2021 have been saying to me ie just do it. Been hesitant to pull money out of risk free 5% yield + stock market for a rental property but at some point hope to do so when it feels like it makes sense. I’ll keep an eye on the Sherman Dennison area. Seems to be a good opportunity if you can find the right property. Just seems like with rates still high + taxes + no homestead relief + rising insurance, and needing a PM (I’m in Denton co) I’d need to really find a good deal to make it cash flow well.