Need help with rental property purchase

[Ankur Agarwal]

Hi All,

I live in the DFW metroplex and  am looking to buy a rental investment property - (SFM but open to duplexes) with two goals in mind:

a. Rental yield of 1% or close to it with respect to the purchase price.

b. Scope for future capital appreciation.

I am thinking of staying in the 200K price range but am flexible. I am looking for advice on the following two topics from such a knowledgeable group:

1. Areas where I can achieve the above goal. I started looking in West Plano but soon realized that it was not possible to attain the 1% yield there. So, I am open to other areas as long as I can get something in a safe neighborhood.

2. I have been looking on MLS but based on some comments on this forum, lot of the good listings don't make it MLS and are circulated as pocket listings which are then picked up by investors. So, I would appreciate if I can get some pointers from experts here.

Looking forward to hearing from esteemed members.