New Guy in McAllen Texas

12 Replies

Just stopping in to say hi to anyone else down in the Rio Grande Valley. I'm pretty new to this whole thing, and I wish I would have found BP before buying my first property. I've been learning a ton through the forums and the podcasts, so a huge thank you to all of you guys who are willing to share your knowledge! 

Welcome to BP. 

I moved from McAllen almost 2 years ago and currently own a rental home there. I’m looking to acquire another property in the RGV or a short term rental in South Padre. Like you, I have been learning a lot from this forum.

Hi Rene! I live in McAllen as well. I am also have a couple of rentals and am always looking to acquire more. I have my license and a small real estate brokerage so we should meet up. I can get you set up with MLS auto alerts and I'm wanting to move more into "off market" properties, like divorce, elder and notice of defaults. I had a 4plex in Edinburg I held for 5 years but recently sold because the 4plex market was pretty hot and I knew I had some capital expenses coming up - roof, AC, etc. So now I own a little house in the historic area of McAllen and we just bought an office building for our operation and we are renting space out. We did a 1031 exchange to acquire that from the 4plex funds. I'd love to talk to you about the local market and since I can get into the MLS I can provide you with any comps you might need. I also have a list of reliable vendors so don't hesitate to ask!

Rene, 

We also did a short term rental in SPI recently. Send me a message if you have any questions or want to talk about some lessons learned. 

Kasey, 

Nice to see someone else from McAllen on here! Is your house in the historic district a rental? I've combed the area, but seems like I may have been late to the party as a good portion of the homes seem to be renovated. 

Hi everyone,

I joined biggerpockets a while back but haven't really put anything I've learned to use.  I would like get into rental property, but need some advice.  I've been thinking of getting a real estate license as a way to learn more about real estate.  Would be a good idea or just a waste of time?

Thanks

@Jake F. I think there’s still some untapped opportunities in the historic district but we have to find agreeable sellers, ie not sellers who already think the home is worth what our repair value would be. Send me your email address or number and we can talk about the market and what’s going on!

@Kasey Villareal  

Replying a month late, sorry.  I'm still learning how to navigate the BP forums. I currently live out of the country, but would love to meet up whenever I'm back in the McAllen area. At this moment, I'm saving some capital for my next purchase, and I have also been playing with the idea of selling my current McAllen rental in order invest the equity in a 4plex on multiple properties.

What's your opinion of the current housing market in the McAllen/Mission/Edinburg area? I've noticed that home prices have declined or appreciation has been stagnant. I've also noticed that homes that are for sale are on the market for much longer periods than a couple of years ago. 

Welcome to Bigger Pockets, @Jake F. !

You'll find plenty of friendly, knowledgeable people willing to help respond to your questions. Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.


There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Hey Jake welcome to BP and hello to all fellow RGV friends! I'm currently investing in the valley and would like to connect with you all. Do any of you attend the local REIA? Or any other meetup groups in the valley?

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