Newbie in Frisco TX searching investor club

13 Replies

Hi BP 

I am new to the BP world and of course investing. Reading and networking but now need to jump in and network here and see if there is a investor club in North Dallas. Not particular about what type. I am sure it will be be worth while given my experience. Looking forward to learning and at some point being able to contribute to the forums in a positive way and help out, not just asking questions.

How long did it take you guys and gals to transition from questions to answers???

Thanks in advance.

Is north Texas still a good place to invest? There’s another thread discussing dfw now and majority opinion seems to be that it’s expensive and deals are hard to find. Construction costs have also gone up a lot. Some have mentioned Oklahoma City and San Antonio still worth it for non-cash buyers.

@Nick Brown I was a young go-getter and wasn't going to sit on the sidelines. I immediately jumped in given my life in San Antonio however my W2 job was choosing not to 'rehire' me so I couldn't qualify for a loan. So overall I ended up learning for a good year until I moved to Dallas and bought a MFH a month into moving here!

@John Blackrock people are still investing in California at a 5% cap rate... so you tell me? I personally don't have any interest in having sole ownership in an investment property outside of my known area (unless it's an airbnb/ STR for myself / vacations). I'm involved in syndications all over the states - but those are completely passive and hands off. I manage all my properties and like having a personal relationship with my tenants. Allows me have a much easier time with increasing rent if need be, updating properties or repairs and just overall happiness of tenants. I'm currently under contract for another MFH so I would very much so say yes... but sure, there will be people out there that will be putting their money elsewhere. That's totally fine in my book.

My propsective on OKC is a bit different from yours @Kenneth McKeown

I consistently see people snagging property at 8% cap rates. 60-80k purchase points and 1% taxes aren't too bad either! @John Blackrock

As far as investing at home or investing in other markets, I see the benefit of both! If you're wanting to be very hands-on and do repairs yourself to cut out hand men, property management etc, I totally see the value at investing at home. However, If you plan to hire property management regardless, might as well go to a market where the numbers make the most sense! 

@John Blackrock . I really don’t have the personal experience to tell you. But I have been told and I would agree with an investor friend. North Texas is a big place and when people say North Texas they are usually referring to North Dallas. North Dallas is an awful lot of new build and that then makes it hard to sell at good profit. But also the gems are hard to find as everyone is scoping the area. That said once you get north or NE and NW of Frisco there are great places.

Originally posted by @Alyssa Dyer :


I consistently see people snagging property at 8% cap rates. 60-80k purchase points and 1% taxes aren't too bad either! @John Blackrock

As far as investing at home or investing in other markets, I see the benefit of both! If you're wanting to be very hands-on and do repairs yourself to cut out hand men, property management etc, I totally see the value at investing at home. However, If you plan to hire property management regardless, might as well go to a market where the numbers make the most sense! 

When you say "60-80k purchase points" is this to lower loan interest rates? I'm new to REI and have only heard points used for lowering interest rates so far.

 

@Kenneth McKeown haha my mistake! I'm not sure if when you wrote California I read Oklahoma or if I was disagreeing with your POV on investing out of state. I might have been up late writing that! 

Regardless of my intention, I will say that my opinion differs from yours in that it's totally worth it to look to other markets where numbers are better if you intend to be hands off anyway. If you're hiring a property manager in your own city, why not do the same in a market where you'll have a lot more cash flow! 

@John Blackrock 60-80k is the purchase price! So you're looking at bringing 20% down and paying 5k at closing for  closing costs and prepaids. You could grab an investment property for 17k total at closing!

@Kenneth McKeown I am like you, have 2 rental homes in Frisco with a personal and professional relationships with the renters.  Going to close another brand new town home near Frisco square.  That's my prefer style.

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