All Forum Posts by: John Michaels

McAllen, TX is a border town located in the Rio Grande Valley. The RGV has four counties Willacy, Hidalgo, Cameron and Starr County with a population of 2.4 million. Land area spans from Rio Grande City to South Padre Island.

I think it's not heard of often bc we're not as mainstream as other big cities and we are also a border town so cartel violence tends to be the issue that comes up.. but Mcallen has actually been ranked top 3 in one of the safest cities to live in in 2023.

"McAllen was recognized as the third safest city by SmartAssest.com, which analyzed a core set of common safety factors, including the following five metrics: violent crime, property crime, vehicular mortality rate, drug poisoning mortality rate and the percentage of the population engaging in excessive drinking."

The RGV has expanded immensely in the past couple of years and we've had an influx of people coming in from out of state bc of the affordability as well. It's an area to keep in mind and Id love to talk about it more to anyone who's considering in investing out here!

Thanks Nydia, I will message you : )

1 Vote

Quote from @Robert Rixer:

You have to be careful with these lists. If rents are high compared to sales price, then you have to ask - why aren't these renters buying? The answer is usually due to no savings, poor credit score, lower income, etc. If this is your tenant base then your rent roll may be high but your probability of actually collecting that rent roll number is low.

That's a good point but isn't the main reason people rent vs not buying a lot of the time is because they don't have the down payment?

0 Votes

Quote from @Bob Stevens:

Quote from @John Michaels:

I came across this BP thread listing the Top 10 Real Estate Markets for Cash Flow in 2024
https://www.biggerpockets.com/blog/best-real-estate-markets-...

However, it didn't mention some of the markets I see talked about the most like
Ohio and Tennessee etc I don't see anyone talking about McAllen or Idessa Texas.
What am I missing? Would you agree with this list ? It was printed in January.

McAllen, Texas
Odessa, Texas
Corpus Christi, Texas
El Paso, Texas
Decatur, Illinois
Fayetteville, North Carolina
Mobile, Alabama
Lubbock, Texas
Rochester, New York
Flint, Michigan

Flint HELL NO, Funny no mention of OHIO, this is exactly why I tell everyone stay off the internet its a waste of time.

Does that include Bigger Pockets lol ?

0 Votes

I came across this BP thread listing the Top 10 Real Estate Markets for Cash Flow in 2024
https://www.biggerpockets.com/blog/best-real-estate-markets-...

McAllen, Texas
Odessa, Texas
Corpus Christi, Texas
El Paso, Texas
Decatur, Illinois
Fayetteville, North Carolina
Mobile, Alabama
Lubbock, Texas
Rochester, New York
Flint, Michigan

2 Votes

Quote from @Chris Seveney:

@John Michaels

The buyer is responsible for removing prior owners, tenants, squatters etc

It is pretty easy to tell if a property is occupied assuming you are physically going to them prior to bidding

Thanks Chris, I visited several properties today and there was tenants in them. What are the odds that they are paying tenants and not squatters?

0 Votes

Napa County, California

Hello, I live in California and was considering buying a foreclosed home.
Would I be responsible for evicting the squatters, or would the bank
foreclosing on the property legally remove them before me taking official ownership?

Is there any way to know if the property has squatters when bidding on the property
at auction?

0 Votes

Napa County, California

I bought a property in Vegas for $270,000 in 2013
That home would have NEVER rented for $2,700 a month
and I would have never gotten the deal at $200,000

My mortgage, insurance, hoa, property taxes were $1250 a month.
The most I could have rented it for at that time would have been $2,000
Even after repairs etc I would have still had a decent return.

Keep in mind that same property is now worth about $580,000

0 Votes

Houston, Texas

Hello, thanks for your response. I asked for a Credit Score of 680 and only 2.5 X monthly rent because that is the City rules.

0 Votes

I am in California and have applicants putting "unemployment" as income down on their applications. Unemployment is said to have already run out. How to respond? I contacted an attorney, and even she was hesitant to go on records because the situation is always evolving.

What are your Two Cents?

0 Votes

I read several reviews of Stessa in January 2019 and there were MANY people concerned about linking their bank accounts.
How are folks feeling a year later in January 2020? I have heard Stessa is easier to learn than quickbooks.

How say you?

0 Votes

All Forum Posts by: John Michaels

John Michaels has started 4 posts and replied 10 times.

Post: Top 10 Real Estate Markets for Cash Flow in 2024

Post: Top 10 Real Estate Markets for Cash Flow in 2024

Post: Top 10 Real Estate Markets for Cash Flow in 2024

Post: Top 10 Real Estate Markets for Cash Flow in 2024

Post: Are squatters legally removed from properties before they go to Auction?

Post: Are squatters legally removed from properties before they go to Auction?

Post: Following the 1% rule

Post: Are you accepting "Unemployment" as income on Rental Application?

Post: Are you accepting "Unemployment" as income on Rental Application?

Post: Do you recommend Stessa for 5 Properties or Quickbooks?