All Forum Posts by: Irene Uribe

3509 S Dominique Drive, Pharr, Texas 78577 $539,000 

Each building has:

4 Units

Each unit 3 bed 2 bath

Water and Light meters per unit (tenant pays its own utilities)

5th Water/Light meter for common area and sprinkler system paid by landlord

8 covered parking spaces (2 per unit)

Title floors, wood custom cabinets

Each unit has a grassed private patio

MLS #: 447405
Brand new units. Competitive price! Units are leasing quickly as per other rentals there at $1350 per unit, gated location at Palm Hills Subdivision off Orangewood Dr and Jackson Rd. Close to McAllen/Pharr. Four spacious three-bedroom units in gated community. Each unit has its own water and electric meter per unit, white light tile floors, gold elegant lighting, solid wood custom kitchens easy to paint and upgrade, luxury fixtures! Adding to the appeal, all four units come with patios, providing private outdoor space. A sprinkler system ensures enhancing the overall curb appeal of the property. Easy access to the expressway ensures that commuting and traveling are convenient and efficient Valley Wide!. Contact us today to schedule a viewing. Builder is VA approved too! Appliances included: Stainless steel fridge, stove, and micro-hood by Lowes or Home Depot with manufacturer warranties and washer and dryers from local vendor with 1 year warranty in parts and labor!

We present a unique opportunity to invest in a high-end fourplex in Edinburg Texas, featuring four luxurious 3-bedroom, 2-bathroom units. Over 4,200 square feet of refined living space, with elegant tile floors, luxury lighting, and a perfect mix of showers and tubs. Private patios equipped with sprinkler systems enhance the living experience. With comparable properties projecting rental income at $1,350 per unit with water and trash services are included, this property offers excellent returns. Additional amenities include individual electric meters for each unit, covered parking for 6 to 8 vehicles, and two assigned parking spaces per unit. Located off Canton, this property boasts an impressive 8.4% projected CAP rate. Conveniently located blocks away from Expressway 281 and Wal Mart Super Center, UTRGV Stadium and in front of Los Lagos Golf Course. Don't miss this exceptional opportunity to secure a premium rental income asset. Construction starts Sept 2024, hold this unit with only $5k escrow! Price: $539,500.00 FHA, VA, CONVENTIONAL, CASH or DSCR financing welcome.

Construction commences Sept 2024 and should be finished by February 2025. Builder will start soon! Buyer can close when the property is ready! No need to get a construction loan! We do need a pre-qualification letter and escrow with title company. Units include: Stainless steel stove, refrigerator, and micro-hood included from Home Depot with no extended warranties only manufacturer. Washer and Dryers are from a local vendor with labor and parts warranty for 1 year paid by the seller! Structural warranties and plumbing, AC and water heater systems by builder also on the first year except if is due to lack of maintenance, abuse, accidents, weather related events. Photos presented are from other buildings built by the same builder. 

Direct buyers and Real Estate Brokers are welcome! 

Hello everyone! 

I am a new to this page, I been in real estate for over 20 years and I wear many hats. I expect to learn from all the pros in this platform and be able to also provide insight on what is happening in our growing community. Prices here still seem unreal compared to other areas. 
Currently I am into development and construction. I have my own rental units too and have not wondered outside my market... yet! Ill be looking out for advice and posts to learn about other affordable areas with stable returns.   

Move your sight to affordable South Texas, specifically the Rio Grande Valley in McAllen, Pharr, Edinburg with 1050 SF units under $135k each. These are fourplexes include covered parking, private patios, own electric meters, sprinkler system, washer and dryer connections, appliances included. Rents are stable, high occupancy rates and a safe communities! Easy to purchase as Owner Occupied with 3-5% down or Conventional Loans with 20-30% down. Brand new units start from $520k and up, rental income $5000 + per month with low expenses as units are brand new and they come turn key and most the the time already leased! Builder is VA registered and provides 1 year structural and system warranties, even the blinds can be included!

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $540,000
Cash invested: $108,000

Investing in South Texas offers additional benefits The price per square foot for new construction in South Texas is among the lowest in the country, making it an excellent value for investors seeking high-quality properties at a reasonable cost. McAllen, for instance, has been ranked among the top 5 safest cities in the U.S. since 2020. The region's young population and growing economic opportunities contribute to high occupancy rates, typically ranging from 90% to 97% year-round.

What made you interested in investing in this type of deal?

Easy to purchase with DSCR loans for investors or Owner Occupied, FHA with low down-payment. Most brand new units fill up within weeks if not leased already! The price for these 4200 SF buildings are very low about $135,000 per unit leased at $1350 a month and they have high end custom finishes and private patios, covered parking for 2 vehicles and usually all individual meters. Management in the area runs about 5% income or $275 set fee per month for all 4 units.

How did you find this deal and how did you negotiate it?

We build these for ourselves or our clients! If there is no real estate agent involve we provide the 2% discount back to our customers or we are happy to pay the buyers broker such fee. Prices can be lower depends on finish out and SF , we have provided lower prices when buyer provides cash or own construction loan.

How did you finance this deal?

DCSR loan, easy! Strong Financial Returns: With typical CAP rates around 9%, and an average cost of approximately $530,000 for a three-bedroom, two-bath fourplex, investors can expect an annual income of over $60,000. These figures highlight the strong cash flow potential and attractive returns that new fourplex investments in South Texas can offer.

How did you add value to the deal?

As a builder we control the cost and we can adjust to our clients budgets when possible, or provide additional turn key services as blinds, rent units, pre-rent units or let their property manager start advertising even before closing to give our clients the ability to make money right away!

What was the outcome?

A 9% cap on these buildings and high ROI.

Lessons learned? Challenges?

Challenge was to save more money to buy some more!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Rent Now RGV property management, First Choice Realty

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $540,000
Cash invested: $108,000

Investing in South Texas offers additional benefits:
• Affordability: The price per square foot for new construction in South Texas is among the lowest in the country, making it an excellent value for investors seeking high-quality properties at a reasonable cost.
• Safety and Growth: McAllen, for instance, has been ranked among the top 5 safest cities in the U.S. since 2020. The region's young population and growing economic opportunities contribute to high occupancy rates, typically ranging from 90% to 97% year-round.
• Strong Financial Returns: With typical CAP rates around 9%, and an average cost of approximately $530,000 for a three-bedroom, two-bath fourplex, investors can expect an annual income of over $60,000. These figures highlight the strong cash flow potential and attractive returns that new fourplex investments in South Texas can offer.
In summary, investing in brand new fourplex buildings in South Texas combines the benefits of modern construction, strategic location, and favorable economic conditions, making it a highly attractive option for those seeking a strong, stable, and profitable real estate investment.

What made you interested in investing in this type of deal?

Easy to purchase with DSCR loans for investors or Owner Occupied, FHA with low down-payment. Most brand new units fill up within weeks if not leased already! The price for these 4200 SF buildings are very low about $135,000 per unit leased at $1350 a month and they have high end custom finishes and private patios, covered parking for 2 vehicles and usually all individual meters. Management in the area runs about 5% income or $275 set fee per month for all 4 units.

How did you find this deal and how did you negotiate it?

We build these for ourselves or our clients! If there is no real estate agent involve we provide the 2% discount back to our customers or we are happy to pay the buyers broker such fee. Prices can be lower depends on finish out and SF , we have provided lower prices when buyer provides cash or own construction loan.

How did you finance this deal?

DCSR loan, easy!

How did you add value to the deal?

As a builder we control the cost and we can adjust to our clients budgets when possible, or provide additional turn key services as blinds, rent units, pre-rent units or let their property manager start advertising even before closing to give our clients the ability to make money right away!

What was the outcome?

A 9% cap on these buildings and high ROI.

Lessons learned? Challenges?

Challenge was to save more money to buy some more!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Rent Now RGV property management, First Choice Realty