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Updated about 2 years ago on . Most recent reply
McAllen, Texas
I'll be visiting McAllen, Texas next month for a couple days to look at some properties. Will also be visiting San Antonio and Austin while I'm in Texas. Was wondering if anyone has any background information on McAllen such as how the market is doing and also which areas I should focus on or not focus on. How does McAllen compare to markets like San Antonio and Austin? Any information, suggestions and/or ideas will be much appreciated.
From the basic research that I've done it looks like the market is growing and the cost of entry is lower than the bigger cities like SA and Austin. Also the cap rates appear to be higher. My concern is what will the town look like in 5 or 10 years. Will I be able to sell if I wanted to or will it be difficult? I'm looking to buy and hold for the long term and rent out for income.
Most Popular Reply
Originally posted by @Hattie Dizmond:
@Suraj Nagrani You need to be exceedingly cautious and aware that McAllen is directly across the border from Matamoros, Mexico. This is an area of high cartel activity and a center of controversy & drug related violence.
http://www.americasfreedomfighters.com/2014/07/25/...
http://www.breitbart.com/Breitbart-Texas/2014/09/8...
I've lived in Texas almost my entire life, and I love this state. However, I wouldn't confidently visit McAllen at this time. I certainly wouldn't invest there. And, I'm about as bullish on Texas as anyone you're going to find.
Just my 2 cents.
That is honestly the stupidest thing I have ever heard. Have you ever even been to McAllen? I just got back from being detailed there for 5 weeks for my job. The area is clean, safe, and nice with lots of shopping and restaurants.
Looking around it is easy to see that it has grown greatly in the very recent past. Some people are a bit shocked by the culture as it is a predominantly hispanic area, and at many places people would even talk to you in Spanish. Fortunately I speak Spanish, so it wasn't an issue, and everyone was friendly and nice.