DFW Area Investing: Mckinney/Sherman

[Ian Bollinger]

Good Evening,

I have a few local long-term rentals that I self-manage on the East Coast. I've been looking to branch out to a few different areas on the East Coast that would necessitate a property manager but Texas and its heavy investment in business, including the major tech investments in the works around Sherman are very intriguing. With all this investment bringing in business, high-paying jobs, etc over the next few years it seems like it's a solid potential opportunity to get in. I'd love to hear some experiences on Sherman or even Mckinney with long-term single family rentals. 

I'd like to stay under 400k, am I too late to the party? Happy to hear any investor realtor or property manager recommendations in the area. 

Thanks in advance!

[Peyt Sosnowski]

Hi Ian,

I have plenty of investors who flip or rent in Sherman/Denison it is a great spot that will continue to grow as DFW grows north with the likes of Prosper/Celina. A TI factory is being build in Sherman, and other developments around Lake Texoma promote growth in the area. If you're looking for investment deals in Sherman let me know!

[Aristotle Kumpis]

Sherman and Denison are hot spots for sure. Lots of development happening there, but not at an exploding pace which is good. Many people recommend buy and hold for 4-6 years there and then either 1031 or refi and pull money out. Our company has been offering brand new construction homes there for the past several years. You can still buy a brand new home in Denison for $275K.

[Jordan D'Silva]

I like the north as much as anyone, but you can find a lot more buying opportunties in the southern part of DFW, with upside still available. Happy to share more of what we are seeing. 

[John Steffen]

Not too late at all! A few weeks back I had an out of state client land a turnkey rental for $275k in downtown Sherman with a long-term tenant in place paying $2275/mo. Another out of state client closed on a 2019 build in Sherman for $235k back in June '24. There's plenty of quality inventory under 400k in that market. 

[Wale Lawal]

@Ian Bollinger

Sherman and McKinney in Texas are experiencing growth due to tech companies and business investment. Sherman is more affordable but faces rising prices. McKinney, with its stable rental market, is popular for long-term rentals. To invest in Sherman, connect with property managers, local investor realtors, and real estate investment groups. Sherman offers higher cash-on-cash returns.

Good luck!

[Olubunmi Odole]

my husband is closing on a brand new tomor in Princeton under $400k

[Kalina C.]

Quote from @Jordan D'Silva:

I like the north as much as anyone, but you can find a lot more buying opportunties in the southern part of DFW, with upside still available. Happy to share more of what we are seeing. 

Jordan I’d love to connect with you! Looking to buy in Dallas area! 

[Bruce Lynn]

I have plenty of clients who manage long distance and around the world.  A great PM will take 10% of your money every month, but they can also add value to your property depending on what they do and how they manage. They also likely save you time.

You can certainly still buy in DFW for $400K and maybe as low as $250K depending on where you want to buy.  Just sent several clients today some in $125-$150K range, but they pretty rough, but rented at 1% rule and not in the best areas.  Not terrible area, but just not great.

I like Sherman area for the most part and think there is opportunity there, but there are plenty of other areas as well.   It will likely be good long term due to proximity to DFW area, growth that direction and a diversified economy.

[Avery Bustamante]

A little late to the party/this thread, but I'm looking at Sherman and Denison as well. I'll be flying out later this week to see some properties and to network at a local RE event.