Waco Tx for Long/Short Term Rental?

[Rachel Rosenfeld]

Looking for some perspective on short and long term rental market in Waco Texas. I’m looking to purchase my first property and live out of state. Any idea on great ppl to connect with in the area? 

[Robert Pfenninger]

I've lived in Waco my entire life minus my time in the Marines. Almost anything close to "Magnolia world" is over priced (and everything else in and around Waco for that matter) with hotels popping up left and right. In addition, an STR can not be within 500 ft. of another STR in Waco which means you likely wouldn't get approved for a new STR permit anyways. The country is rapidly heading into a recession (and possibly WWIII depending on which news you chose to consume) and I think we've only just begun to get a little taste of what is to come with gas prices, rate hikes, supply chain issues, failed crops, droughts, and layoffs. That being said, there should be a lot of opportunity on the horizon. However, if your buying for cash flow I would stick to long term rentals with a deep discount on acquisition for now. They are hard to find but still out there.