All Forum Posts by: Noelle Stecher
Noelle Stecher has started 2 posts and replied 8 times.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
Quote from @Pete Harper:
Quote from @Trevor Caswell:
Quote from @Noelle Stecher:
Hi. I am looking to buy a rental property in Waco, but I am not too familiar with the area. I have done the neighborhood research online and have a general sense of the neighborhoods, but I am looking for any advice from people who know the area or who have investment properties there. What areas are good? What areas to stay away from? Any advice is welcome! Thanks!
School Districts:
Midway ISD
China Spring ISD
Bosqueville ISD
Robinson ISD
Lorena ISD
Waco Neighborhoods:
Dean Highland
Landon Branch
Castle Heights
Brookview
Sanger Heights
Fishpond
Viking Hills
The issue you'll run into is the cashflow on these turnkey rentals. You won't be able to get the rent much higher than $1600-1800 on a 3BR 2BA in most Waco neighborhoods. This is why you may want to look at Hewitt and Midway ISD area, due to desirability from families moving into the area.
Baylor bubble is very hard to break into and oversaturated with landlords with heavy pockets. I would stay away from there unless you have a child going to school there.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
I actually thought I found a deal in Houston, but it fell through so back to the drawing board.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
Quote from @Trevor Caswell:
Quote from @Noelle Stecher:
Hi. I am looking to buy a rental property in Waco, but I am not too familiar with the area. I have done the neighborhood research online and have a general sense of the neighborhoods, but I am looking for any advice from people who know the area or who have investment properties there. What areas are good? What areas to stay away from? Any advice is welcome! Thanks!
School Districts:
Midway ISD
China Spring ISD
Bosqueville ISD
Robinson ISD
Lorena ISD
Waco Neighborhoods:
Dean Highland
Landon Branch
Castle Heights
Brookview
Sanger Heights
Fishpond
Viking Hills
The issue you'll run into is the cashflow on these turnkey rentals. You won't be able to get the rent much higher than $1600-1800 on a 3BR 2BA in most Waco neighborhoods. This is why you may want to look at Hewitt and Midway ISD area, due to desirability from families moving into the area.
Baylor bubble is very hard to break into and oversaturated with landlords with heavy pockets. I would stay away from there unless you have a child going to school there.
Thank you so much for the info!
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
Looking for long term rentals, but also considering Temple, Texas too.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
Quote from @Ryan Kelly:
@Noelle Stecher if you live in Houston and are considering Waco, I highly recommend taking a weekend trip up to the town before making a decision. I grew up in Waco and there is a lot of potential there, but also many C/D class neighborhoods that will look like good cash flow on paper but I wouldn’t touch. Get to know the area and drive around with an investor-friendly agent or fellow investor.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
I live in Houston and the market here is way too expensive for me to have good cashflow, so I am looking at other options. I’ve seen many good things about Waco and the population growth there. But, I am definitely open to other suggestions.
Post: Looking to Invest in a rental in Waco
- Posts 8
- Votes 3
Hi. I am looking to buy a rental property in Waco, but I am not too familiar with the area. I have done the neighborhood research online and have a general sense of the neighborhoods, but I am looking for any advice from people who know the area or who have investment properties there. What areas are good? What areas to stay away from? Any advice is welcome! Thanks!
Post: What is the best option?
- Posts 8
- Votes 3
Hi. I am new to investing and looking for where to start. I have read "Rental Property Investing" and am debating my first step. I am currently renting and have about 50,000 for down payments, closing costs and rehab.
1. Buy a single family in a desirable area with an FHA loan and live in it for a year while rehabbing it. Then, rent it out.
2. Buy a multifamily in a less desirable area ( expensive in my area) and live in one unit and rent the other unit.
3. Buy an investment property with 20 % down and rent it right away. Not necessarily in my area.
They seem to all have their pros and cons. I am leaning toward number 1, but want to know if there is a clear upside or downside to these choices that I am not seeing. I know each choice would have to come with property analysis, just looking for guidance. Thanks!