I live in the greater Austin area. Today a realtor brought me an off-market deal in Taylor, TX. Any tips for that market? I'm pretty familiar with Round Rock.
We manage several rentals in Taylor. Purchase price to rental rate is usually pretty good. Much better than you can find in round rock. It takes a little longer to lease, but the tenants usually stay for several years. Be very careful about the expansive soils in Taylor. Almost every home that I have been in Taylor has has foundation issues. The soil is constantly moving so I prefer pier and beam over a slab. Also, try to stay north of hwy 79 and west of hwy 95. The south and east parts of town are pretty rough. Also, be sure to stop at Louis mueller BBQ each and every time you go out there to check on your property. :)
I would be happy to invest my lunch money at Louis Mueller BBQ. Possibly the best I've ever eaten.
I have done a few deals in Taylor as well. This market has many challenges, typically with little reward. Please re-read what @Jeff Clawson posted above until you have it memorized - and if you still decide to invest in Taylor, never deviate from it. At all. @Jon Klaus shared the best reason to visit Taylor. The prices in Taylor are lower than the rest of the area for a reason. I have personal experience with problems related to gang members and crystal methamphetamine manufacturing there. #NotMe