Newbie trying to buy a first rental home Frisco, Texas

[Tae Jang]

Hello BP, I've been studying, reading books & forums for the past a few months and planning to buy a first investment property before the end of this year.

Area I am looking at is Frisco or Plano Texas where people say hard to find a good deal. I picked Frisco or Plano because it is close to where I live so that I can manage myself and many other advantages.

Houses I am looking at ranges $250-290k which rents $1600-1900/month. Since property values are less than my house, I was told to put 30% down, which leaves me $700/month (I know it won't be the cash flow but just saying). I think the numbers aren't great but not too bad either considering the location and possible influx of population for the next a few years.

I still have a lot to learn but what's your thoughts just by looking at the number?

Thanks for helping out a newbie.