locations for new construction buy and hold

[Vijay Nidumolu]

Dear all,

Its been a humbling experience, reading all posts on biggerpockets. 

I am trying to buy a property (either SFR or TownHome) and hold it. I plan to buy and rent it , and let the rental pay for equity. I prefer low maintenance to positive cashflow, and I plan to buy a reasonably new construction area. I have a rental in holly springs NC and we live in Dallas suburbs.

I searched following areas so far.

a) I am tired of almost all national builders saying no, to investors in Dallas, Austin and Raleigh metroplex areas.  

Also, I was beaten by cash offers on 3 homes in dallas so far.

b) I found new construction to be far away from city center in little Rock , AR and so not sure if rental demand. 

c) I think oklahoma city is georgraphically risky for me. No offense , OKC is a great city. But, I might end up with sleep less nights during summer if there are tornadoes in OKC.

d) Any suggestions on locations in USA, as to where can we buy a new construction or reasonably new homes ~300k and rent for ~1600(if tax is ~1%). I gave up on 1% or 0.8% rule in 2020.

regards

vijay 

thanks and regards

vijay 

[Cassi Justiz]

Hey @Vijay Nidumolu, 

Lubbock, TX is a strong market with decent new construction prospects. I've looked at the numbers and even new construction stuff is pretty strong. It's still a competitive market, but it's a smaller town so you won't get the Dallas or Austin level bidding wars. The taxes are a bit higher than you'll see in OK or AR, but lower than most parts of Texas.

Reach out to @Jordan Sutherland and he can point you in the right direction with investor friendly builders.