Living in DFW… driving to Waco

Member since 2025 · 4 posts · 2 votes

We live in the Dallas area, but are doing some investments in the Waco area to start with. Would love to do more in Dallas and Waco.

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Wale LawalBusiness Member

Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes

10mo

@Monet Van Gundy

That's a great strategy. Waco is a awesome starting point as it has high rental demand, and you will be set for long-term success by expanding into Dallas as you get experienced. I think the key is building your team and analyzing numbers so you can confidently scale in both areas.

Good luck!

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Trevor Caswell
Real Estate Agent · Waco, TX · Member since 2020 · 62 posts · 53 votes
10mo
Hey Monet, I am interested. Why did you choose Waco to start with?
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- Monet Van Gundy
  OP
  Member since 2025 · 4 posts · 2 votes
  10mo
  Quote from @Trevor Caswell:
  
  Hey Monet, I am interested. Why did you choose Waco to start with?
  Well, a big part is because I’m originally from Waco, but also it’s not as big a market as Dallas so it’s a little easier to manage and stretch your money a little more… though not too much more these days. Just felt like a more comfortable starting place.
  0 Reply
Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
10mo
I believe there is opportunity in Waco, but I also think the number can be deceiving. I like the city itself, but one thing I don't like is that I feel like there are no major demand drivers there other than Baylor.

For some reason there are lots and lots of older homes that need help. Obviously Chip and Joanna have done well there. Not sure they are still flipping houses though. If you can talk to them you should. I'm sure they are very keyed in there if they still live there.

One thing I would also caution on is rehabbing 2 hours away. I've done it. For me it wasn't a whole lot of fun. Work a full day here, drive 90-120mins to the rehab, work 4-5 hours and return. I spent a lot of time driving, even though that is theraputic for me. You also have to think about if things go wrong...like if you get a code violation you need to address. Have to be there during the day for that.

I'm not saying don't do it, just think about the logistics. To me if you can flip in Waco, you can certainly do it closer to home, unless there is just something you crazy like about Waco. Maybe if your long term goal is to live there, then a good place to get started. If Dallas is your long time home, I don't see really even 1 reason to go 2 hours away to flip. Being local gives you a ton of advantages.

Good luck and best wishes finding whatever works for you.
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- Monet Van Gundy
  OP
  Member since 2025 · 4 posts · 2 votes
  10mo
  Quote from @Bruce Lynn:
  
  I believe there is opportunity in Waco, but I also think the number can be deceiving. I like the city itself, but one thing I don't like is that I feel like there are no major demand drivers there other than Baylor.
  
  For some reason there are lots and lots of older homes that need help. Obviously Chip and Joanna have done well there. Not sure they are still flipping houses though. If you can talk to them you should. I'm sure they are very keyed in there if they still live there.
  
  One thing I would also caution on is rehabbing 2 hours away. I've done it. For me it wasn't a whole lot of fun. Work a full day here, drive 90-120mins to the rehab, work 4-5 hours and return. I spent a lot of time driving, even though that is theraputic for me. You also have to think about if things go wrong...like if you get a code violation you need to address. Have to be there during the day for that.
  
  I'm not saying don't do it, just think about the logistics. To me if you can flip in Waco, you can certainly do it closer to home, unless there is just something you crazy like about Waco. Maybe if your long term goal is to live there, then a good place to get started. If Dallas is your long time home, I don't see really even 1 reason to go 2 hours away to flip. Being local gives you a ton of advantages.
  
  Good luck and best wishes finding whatever works for you.
  Thanks for the advice and outlook. I think I may have found a niche for myself in Waco that’s working… at least for now. And I’m originally from Waco so I have family and connections that make it a bit easier to navigate some of those things where as if I traveled 2 hrs to a different location without connection, yes I can see how that would be daunting and difficult. The thought of that sounds exhausting. Thankfully, my situation makes it almost easier but I completely agree if you don’t have connections that would be tiring. And I do hope to expand into Dallas, closer to home eventually… and maybe even further away from home into Austin if that becomes an option as I have a good amount of connections there as well. Conquering one small city for now.
  1 Reply
Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
10mo
@Monet Van Gundy
That's a great strategy. Waco is a awesome starting point as it has high rental demand, and you will be set for long-term success by expanding into Dallas as you get experienced. I think the key is building your team and analyzing numbers so you can confidently scale in both areas.
Good luck!
[email protected]832-776-9582 Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
Website View Page
1 Reply
- Monet Van Gundy
  OP
  Member since 2025 · 4 posts · 2 votes
  10mo
  Quote from @Wale Lawal:
  
  @Monet Van Gundy
  That's a great strategy. Waco is a awesome starting point as it has high rental demand, and you will be set for long-term success by expanding into Dallas as you get experienced. I think the key is building your team and analyzing numbers so you can confidently scale in both areas.
  Good luck!
  Thanks Wale! Looking forward to growing in experience in a smaller pond before jumping into a big one. Appreciate the response and looking forward to sharing the growth.
  0 Reply
- Wale LawalBusiness Member
  Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
  10mo
  Quote from @Monet Van Gundy:
  
  Quote from @Wale Lawal:
  
  @Monet Van Gundy
  That's a great strategy. Waco is a awesome starting point as it has high rental demand, and you will be set for long-term success by expanding into Dallas as you get experienced. I think the key is building your team and analyzing numbers so you can confidently scale in both areas.
  Good luck!
  Thanks Wale! Looking forward to growing in experience in a smaller pond before jumping into a big one. Appreciate the response and looking forward to sharing the growth.
  
  My pleasure!
  
  Growing in experience is best way to get better.
  Always glad to help.
  
  All the best!
  [email protected]832-776-9582 Podcast Guest on Show #469
  NETWORTH BUILDERS5236 Reviews
  Website View Page
  0 Reply
Aaron Gordy
Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
10mo
@Monet Van Gundy Waco is good. What is your strategy? There are so many different strategies in real estate investment. Flipping houses could be good but unless you are there to check on the work often then it could be problematic and that drive could become tiresome. I know a lady who is doing quite well there with str. Waco is more than just Baylor. Baylor is a major employer, no doubt. There is also the medical field that is a big employer such as Ascension and also Baylor Scott and White. If str or mtr you might want to consider traveling nurses as a customer base to go after. Then again, you will want to make sure that you have the right team in place for whatever real estate pursuits that you are interested in.
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