What are good neighborhoods in Cooper Cove, Killeen, or Temple

Question

Hello BP community,

I'm a new real estate investor living in the Bay Area. I'm an engineer and fortunate to have 2 properties in an expensive area but my rental property is not cash flowing. I've done extensive research and narrowed down my market in northern Austin. It's a direct flight away and there are properties less than $150k within my budget. One day I would like to retire early and help my family become financially free. I would like to learn what areas to invest in my first out-of-state property in Cooper Cove, Killeen, or Temple. What areas should I stay away from and what areas should invest in? I'm trying to mitigate future head and pick people's minds to help me gain a growing real estate portfolio. Happy to connect with others within the Texas area.

Chris Allen · Answer

Hey there @Brian Lagman, I would agree with both @Justin Robert and @Pete Harper. I currently live in Killeen, and I work in Temple at the big hospital. A very over simplification is what Pete said, South of I-14 and East Killeen/Heights is fairly "safe". There are several pockets scattered throughout though. I live between I-14 and Zephyr Rd over by the Mall, which that is a decent area where duplexes down my street are being sold for around $225k. Likely the closer you get to Downtown or the base, the more rough the area will get.

I am currently trying to move to the Temple area and I believe Temple/Belton will have a better chance at more appreciation d/t Meta being built, better school districts, and easy access to Waco and Austin on I-35.

Justin Robert · Answer

@Brian Lagman These are really 3 very different sub markets at the end of the day. I would encourage you to visit all 3 and you will see what I mean. Personally, all of my holds are in Bell County, specifically the Temple(ish) area. I would also be aware that low purchase price does not mean more cash flow. You probably know that you sound like an educated guy. Next time you come this way feel free to stop by my office in Temple. It is in the heart of the city and I am happy to give you my perspective.

Pete Harper · Answer

Killeen is a strange market. I would not recommend investing there without first looking at the area. The old down town is pretty rough, a block or two makes big difference. I highly recommend you visit and drive around a bit to get familiar with the area. Also talk to PMs to see if they will manage property in that area. Better areas are South of I14 and East Killeen/Harker Heights Killeen is a one company town with Ft Hood being the dominant employer. Currently War is Bullish but that may change.

We own a 4-plex and have done well. In the last couple years prices have shot up. A lot of CA investors bidding prices up :-) BTW I'm a retired Engineer from the bay area.

We own a 4-plex and have done well. In the last couple years prices have shot up. A lot of CA investors bidding prices up  :-)  BTW I'm a retired Engineer from the bay area.

Eliott Elias · Answer

Heres the order of least headache to most

1. Temple

2. Cove

3. Killeen

Ryan Kelly · Answer

@Brian Lagman I'm a huge fan of Bell County, especially the Temple and Belton area. It has great properties in the mid $200k range that are mainly turn key. If you are looking at $150k and under, just be prepared that they will either need remodeling or will be in a C/D class part of town. If you can push for a higher budget, you'll get a better class property and tenant. All of my investments are in the Temple market.

Greg R. · Answer

You said that you're a direct flight away, but have you been to these areas yet? Sounds like you have the means to travel and check them out. You can certainly purchase sight unseen, but I wouldn't recommend it, especially being new to RE investing.

If you haven't been out, take a few days off work and come explore the areas. Doing internet research is not equal to visiting a place in person.

Brian Lagman · Answer

@Justin Robert @Pete Harper @Chris Allen I appreciate all your feedback, this is all super helpful. I do agree that I think it would be a wise decision to make a visit to all three locations to determine. Temple has been getting more of my attention due to more job opportunities with Meta's new data center in the future. I'm playing the long game and want to get in as soon as I can.

Deandre P. · Answer

Like many mentioned above, they are 3 completely different markets.  If you are looking for growth and appreciation I would suggest Temple.  I think over the next few years ,Temple will see a lot of growth with Meta being built.  I believe Killeen to be a stable market, with FT hood next door if you can get in at a good price point, should be able to cash flow fairly well depending on the area/neighborhood. Also, I believe you mean Copperas Cove.

Brian Lagman · Answer

I checked all the direct one-way airlines from my area. I definitely agree ill make sure to visit the area I plan to invest

Eliott Elias · Answer

I invest extensively in Bell county, happy to connect and talk about what areas I like.

What are good neighborhoods in Cooper Cove, Killeen, or Temple

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