We are beginners to Texas real estate market. Please advise on areas to invest for 1% rule. We are going to have our base in Dallas area, but we are open to invest in 3-4 hour radius, near Houston, Austin, Oklahoma city or anywhere in between. We can invest in SFR or small multi-family buildings. (We got inputs from experts on few areas near Dallas, we are open to expanding our radius) Appreciate it!
Also, we are looking to network with other investors, wholesalers,realtors focusing on investments, lenders and property management companies in those areas. Please PM me if you like to connect.
(This is previously posted in generic buying & selling group, reposting in Texas forum)
Going to be hard to hit the 1% rule in the big cities in Texas and probably impossible in Austin.
Ethan is correct, 1% is difficult in this market. Not sure if San Antonio is an option but it's likely the most affordable when it comes to recognizable cities. After that might be Houston, then Dallas, and lastly Austin.
@Geetha R. Its possible in Oklahoma City send the OKC metro.
I find 1% deals in Houston all the time -- non warzone too. Maybe not in single family homes but multifamily it's easy. Just paid $150k/door for $1700/month rents. Paid $100k/door for $1k/month rents. $50k/door for $600/month rents. etc.
I run my stuff super lean and wonder how the heck people make $ paying more than 100x rent.
Thanks everyone for your inputs! Really appreciate it!