All Forum Posts by: Tanveer Ahmed

Hello Everyone, this is the continuation of my first post. I was able to get my offer accepted 3 houses, 2 in the colony(75056) and 1 in Carrollton (75006). All are 3bed 2bath and close to 300k range. which external factors should I consider to finally choose my home(appreciation & rental potential)? Is anyone familiar with both areas and can give a fair input. Thank you. 

Thank you everyone for the reply. I did submit an offer in the colony(75056) under 300k. Is this a safe area. I know no place is 100% safe but where do you look up the crime rate. 

@Bruce Lynn Thanks for the reply. Would you recommend any areas I should look into to match my criteria? ( desirable rental area, good schools with nearby shops, restaurants)?

Hello, I am planning to relocate to Plano. I am looking to purchase a house close to my work(75024) and the locations I am checking are Plano, Frisco, Carrollton, Mckinney, Allen, Colony. My goal is in the future if I have to move out at least I can rent out my place. My purchase point around 320K. What would be the best among these neighborhoods. I am not looking for cash flow but Appreciation would be nice in the long run.

@Chris Clothier Thank you so much for your detailed information. You made a valid point. They did mention about those areas as C class neighborhood. I don't care if it's in Indianapolis or Jacksonville but I want to invest where it is less risky and headache. I am in junior year of my college and I really don't have time to look over my property all the time. 

 From my some online research I see Texas is better to place to invest rather that area. But after the unfortunate disaster there, I don't know how it will affect their market. You mentioned contacting the local agent but how do I pick a state to invest or what area should I look at before picking a state to invest in? I forgot to mention I am an immigrant and came to the USA 5 years ago. so, I don't have too much information about other states.

@Ivan Barratt thank you for your reply.  Since you are from Indiana what area in Indianapolis you will feel safe to invest? and what is the price range in those neighborhoods? Thank you again for your kind response. 

I am completely new in real estate. I talked with an investment company and they said I can buy an old house or cheap house ( single family 3 bed, 1 bath or 2 bed, 1 bath ) for 20k- 30k and do a rehab( Jacksonville, FL or Indianapolis, IN).These homes will not have so much of an equity. May be 5% or less. So, the summary of our discussion: The total cost including acquisition and rehab will be around 40k to 50 K. After that, I can rent it out for $700 dollar. After all expenses including PM cost, TAX, Insurance, Vacancy, Repair I can have a take home cash flow of 60% of the rent which is around $400-$420 a month. Assuming there is no mortgage and buy all with cash.

So, here is my questions.

1. Is this a good way to approach for the first time investor? 

2. Which state is better for getting this cheap rental property and less risky? Indianapolis or Jacksonville, FL?

3. How can I compare different states for investment, including vacancy rate, crime rate, and demographics data of a place?

4. How do I know the agents or realtor giving me all the authentic information?