Investing in Waco, TX
Tell me what you all are thinking about when it comes to investing in Waco? I have some properties out there, but what are you looking for? How are you looking to invest in the area? What part of Waco intrigues you the most?
Investor, Broker, PM in Waco 16 years. Me and and my partners own quite a few properties here. We do different stuff in Real Estate. I would say what we look for the most is properties that are good buy and hold investments. We flip and wholesale properties also. 10 years ago the "areas" in Waco made a much bigger difference. Now every area is doing well. Anything close to down town including East Waco, traditionally lower end area, is really turning around and of course anything near the magnolia silos is really hot. Not sure if that helps.
Chip and Jo :)
With the interest rates increasing and buyer pool shrinking, I am telling my investors to be more cautious and make sure the numbers work. Flipping and wholesaling in North/East Waco was very hot last year at the peak of low interest rates/large buyer pools. Now, with middle to lower income families being priced out of the market and having to borrow at higher rates, those flips in C neighborhoods will sit a bit longer due to lack of buyers and investors chomping at the bit.
I am refocusing on properties in highly desired school districts and neighborhoods.
School Districts:
-Midway ISD
-China Spring/Bosqueville
-Robinson/Lorena
-McGregor
Neighborhoods/Cities
-Woodway/Hewitt
-Castle heights
-Downtown
-Baylor Bubble
-Mountainview
-Sanger Heights/Dean Highland.
-East Waco (one block from Elm Avenue)
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@Isaiah Lesley thanks for postsing! Always great to hear from some fellow Texans. Now, if you live in Fort Worth....why are you thinking of Waco? I mean, Waco is nice and there are good investors and deals there...but Fort Worth has 8x's the properties, jobs, tenants, etc. And again, nothing against there...but why not stay here?
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Quote from @Andrew Postell:
@Isaiah Lesley thanks for postsing! Always great to hear from some fellow Texans. Now, if you live in Fort Worth....why are you thinking of Waco? I mean, Waco is nice and there are good investors and deals there...but Fort Worth has 8x's the properties, jobs, tenants, etc. And again, nothing against there...but why not stay here?
Good question lol! I'm interested in Markets outside of the norm, but not necessarily so far outside the norm that they're not cash flowing, and for some reason Waco has been a gold mine of a market for me. More importantly I have generally had success with getting these properties off my hands no matter the general market conditions. Keeping my money where My faith is
Quote from @Trevor Caswell:
With the interest rates increasing and buyer pool shrinking, I am telling my investors to be more cautious and make sure the numbers work. Flipping and wholesaling in North/East Waco was very hot last year at the peak of low interest rates/large buyer pools. Now, with middle to lower income families being priced out of the market and having to borrow at higher rates, those flips in C neighborhoods will sit a bit longer due to lack of buyers and investors chomping at the bit.
I am refocusing on properties in highly desired school districts and neighborhoods.
School Districts:
-Midway ISD
-China Spring/Bosqueville
-Robinson/Lorena
-McGregor
Neighborhoods/Cities
-Woodway/Hewitt
-Castle heights
-Downtown
-Baylor Bubble
-Mountainview
-Sanger Heights/Dean Highland.
-East Waco (one block from Elm Avenue)
Good Notes, thank you!
@Trevor Caswell I'm looking to make some moves on SFH LTRs in more desirable areas surrounding Waco. Give me a shout.