What do you folks think of Wylie for buying an investment property ? Wylie schools are rated pretty good and a decent 3 bedroom SFH can be had for low 200s giving a rental yield of about 0.8%.
I know lot of people here are looking at ft worth to buy properties in sub 200 - 200k range but between wylie and ft worth, I would think that Wylie is a better option from all angles.
Interested in knowing other experienced investors perspective
Wylie, Sachse, Denton, Anna, Celina, Melissa....should have about the same numbers.
Thanks @Bruce Lynn . Which one would you prefer over others ?
Also, would appreciate your thoughts about these burbs
Well my first thought is they deal you can get in these cities is the best deal....Lots of competition from investors with cash and retail buyers willing to pay more sometimes than investors. All else being equal or similar I'd choose Denton. Multiple demand generators that will likely get stronger. Train transportation, 3 universities/colleges...Peterbilt trucks, Winstar casino, etc. Not to take away from Wylie....but Wylie is mostly a bedroom community. No real demand driver other than good schools and still somewhat affordable housing. Melissa, Celina, Prosper if you can find $200,000 houses will be at the low end of the pricing spectrum and that is likely a good thing....in very popular growth cities.
Thanks @Bruce Lynn . One thing that I dont like about Denton is the school ratings but may be it does not matter that much for rental market. On the other hand, homes there zoned under Argyle ISD may be the sweet spot.
For wylie, the nearest employment centers would be Richardson or downtown, so it may not be bad for people working there to live in wylie
@Ankur Agarwal I would definitely say Wylie over most parts of FW. Maybe not Keller - but better than most of the other areas of FW.
I also think that Keller is better than Wylie and some of the other distant burbs. What i have found about keller though is that the rental market is not that great compared to northern burbs as there are more employment areas on the northern side compared to keller. This is just my initial analysis and may not be completely true
@Ankur Agarwal , Wylie is good place for investment if you can get 0.8%.
It is hard to make 0.8% in FW also.
There is good rental demand in Heath/Royse City if you like to go further east.