Hello BP community,
I am a beginner and decided to buy my first SFR in Frisco/McKinney area after spending few weeks on Webinar, Podcast and forums.
Is there any specific local area I should keep in mind?
Any reference to local investor realtor who can help to find the best deal?
Frisco and McKinney are great areas but it can be difficult to cash flow in these markets right now. Unfortunately rents are not keeping up with the cost to purchase properties in these areas. Although, I wouldn't completely rule these areas out, as you can occasionally find numbers that make sense.
Thank you @Greg Routen. Appreciate your advise.
Do you suggest any other area where I can get decent cash flow ?
Being from New Jersey how did you come to land on Frisco and McKinney? Just curious about your selection criteria.
I was looking at below article on the internet and came to know about economy and job growth there. It's a medium town but I prefer due to appreciation as planning for buy and hold.
I am still confuse if go to this market or maybe somewhere in midwest.
I am open for any guidance/suggestions as I don't have my boots on the ground there.
That's a very good article thanks for sharing, hadn't seen that one yet! Real estate has been going bananas around here so I'm happy to see some data to back it up. I have only one rental property that I rehabbed so take this advice for what it is worth. Do your first deal local to you. I learned soooo much by getting 100% involved in the whole process, making mistakes, etc. If I would have tried an out of town deal I think I would have missed out on some major education. The thing about Frisco and McKinney is that since they are mid sized there's really not a good or bad area to invest for buy and hold. With all the population growth you certainly won't have an issue with vacancy. And with so many houses being bought and sold around here it's very easy to determine what things are renting for and selling for to determine if you can cash flow or not.
Thank you for your advice Kevin
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