I personally think there is still a lot more room fro growth before texas is in bubble zone. Remember that there are several large companies moving into the state and job growth is still on the rise.
I have my favorite area to invest in (close to home), but really it's all about the #s of each deal, and good deals can be found in most areas. The same can be said of bad deals, and it takes even less work to find those. ;)
I grew up in Plano area since I was a little kid. Collin county has grown a lot since then. I think it's good to invest the developing area such as wyile, little elm and Denton.
If you can find a good deal. I would certainly not go out and buy a bunch of full price houses from a builder and assume the value will go up in the next year.
I see lots of investors are buying brand new homes from builders. I go through some numbers in Princeton area and 150K house with $1500 rent.. that is good number for new property where maintenance is very minimum for next 10 years.
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