Investor · The Colony, TX · Member since 2014 · 192 posts · 66 votes
I'm out of DFW and looking for some multi-family in the surrounding area, preferably east or north of the metroplex. Lately, I've seen some deals come up in Sherman, Denison, and Texarkana and I'm hoping to get some feedback from our knowledgeable BP'ers.
Anyone have an idea how the rental market is looking in those areas? What about other investment opportunities? From just poking around it seems like those markets have cheap properties that rent fairly high (compared to the price of the property). But how easy is it to get them rented is what I'm wondering...
Professional · Mansfield, TX · Member since 2013 · 77 posts · 44 votes
10y
With CA increasing their minimum wage, watch for a lot of businesses moving. Texas is always a favorite place for CA businesses and people to move. I expect an influx to DFW and North Texas this Summer.
Allen, TX · Member since 2014 · 74 posts · 22 votes
10y
Good question. I'm interested in the Anna, Melissa, VanAlstyne, and Sherman area as well. Denton and Sanger too, but I'm seeing the prices heat up there already with lots of competition and not a lot of cash flow.
Specialist · Austin, TX · Member since 2014 · 109 posts · 95 votes
10y
Denton has a lot of competition now, but the prices are still lower than Dallas, and from what I can tell the price to rent ratio is a little more appealing. The nice thing about Denton is that it is growing rapidly and should continue to do so for the near future.
Sherman/Denison area also has good price/rent ratios and cheaper houses than Dallas. I know some guys who invest there. It's not quite as crazy and there are still deals to be had. I have no doubt it will continue to grow (as all of Texas is) but probably not at the rate of Denton or Collin County.
One thing to keep in mind depending on your strategy is that there's still a lot of empty land in these areas, so much of the growth is happening in new subdivisions, so if you're flipping you may be competing with new builds. Not a problem, just something to keep in mind when you run your numbers.
Denton's a college town, Sherman/Denison is a little more industrial. Both solid rental markets.
Professional · Mansfield, TX · Member since 2013 · 77 posts · 44 votes
10y
With CA increasing their minimum wage, watch for a lot of businesses moving. Texas is always a favorite place for CA businesses and people to move. I expect an influx to DFW and North Texas this Summer.