All Forum Posts by: Mark S.

Hi Everyone,

Some people mentioned they were interested in creating a meet up for the SHops at Legacy in Plano.  I wanted to guage some interest and see if we could put something together.  I am thinking next week either Monday March 14th or Friday the 18th.  I am open to either lunch or Happy Hour.  Maybe Henry's Tavern.  Usually they are not too crowded so we can find a place without much trouble.

Let me know what everyone thinks.

To be honest I think you are better off getting a little further away from the metro plex.  Anna, Melissa, Van Alsytne and Sherman are great areas.  The 75 was just expanded from 4 lanes to 8 lanes and I think it will really open that area up in the next 5 years.

There are some great locations in Plano but the pricing makes it hard to find great rental properties.  You can definitely find them but it takes some work.  I live in Plano if you have any specific questions I can help you with.

I live in Plano as well.  I think a local meet up would be a great idea.  We could do one at the Shops at Legacy.  Are there other people who would be interested in going?  If so I can start to put something together

You should be able to know if the condo is warrantable at the time of purchase, otherwise you would not be able to get a loan on the condo. They can make good investments but they definetly carry risks. Not only do many downtown Dallas condos have high HOA dues but you also run the risk of a special assessment. That being said they can make great rentals and the market right now is booming downtown. It may be hard time finding a lender to get the condos approved, let me know if you run into problems. Good luck!

I second going North.  One thing which always makes Texas hard is the property taxes too.  Frisco I believe is 2.2% or so, this is definitely a big hit to your margins if you are looking to rent it out in the future.  If you're just looking for appreciation, well that is always a hit or miss.  A lot of people in the real estate community in the DFW area feel like prices may continue to rise until we are closer to the prices on the west and east coast.  

Texas, and Frisco, still feel like a bargain for anyone coming from Orange County California!

I have my rentals in Sherman.  It is about 45 minutes towards Oklahoma from the northern DFW suburbs.  It is a nice area and not as hot as the areas inside the metroplex.  I purchase the properties at about 1% rents and increased them to a little under 2% within 18 months.  It is a great area to get duplexes since there are a lot out there and the market is somewhat slower.  They have also expanded the major highway from Sherman into Dallas from 4 to 8 lanes so it should start to expand as people move out there.

Good luck

I am not sure if there are many out there....  everyone wants at least 20%...  you should be able to get a Fannie Mae or Freddie Mac loan at 20% 

I think this is a great idea, what about in Plano?  That is relatively central to everyone in Collin County.

Welcome to Bigger Pockets in Texas!  I moved here two years ago from CA to and bought two duplexes out in Sherman.  I think it is easier to find deals with better cash flow a bit outside of the metroplex, but they do not appreciate in the same way as in Plano or McKinney!  Let us know if you need anything while you are here, Texas is a great place!