All Forum Posts by: Michael W. McCord

Hi, I'm using a GP in El Paso for the first time and in the middle of a renovation so am a little hesitant to recommend him formally since he hasn't completed the job yet but so far am very happy with his performance. He's communicative and honest and reasonably priced which can be hard to find in a GP.

El Paso cash flows beautifully with minimum down payment and has plenty of choices. Appreciation though is somewhat lacking.

I noticed no one responded about El Paso on your list. I just moved here and bought my first SFR with a detached ADU and currently renovating to rent out. El Paso is a very different animal from the rest of Texas in that there isn't crazy high appreciation here so the rents allow for solid cash flow if that is what you're looking for. And unlike other markets it's close enough to San Diego to drive in one day.

Garland has some pretty onerous rules for STRs and even requires a license and inspections at every lease turnover for LTRs which has put me off investing in the Garland/Mesquite market period.

https://www.garlandtx.gov/DocumentCenter/View/15034/STR-Info...

Welcome David! I'm moving to the El Paso area end of this month. Would love to connect at some point.

Hey I'll be moving to El Paso next month so would love to connect this fall.

I honestly don't see a price difference between Plano and communities further north like Frisco, Prosper or even Celina. Yes you get newer housing stock up north but with the DFW population moving north, that moves the center of population closer to places like Plano/Richardson. You can't beat that location for easy access to pretty much all the hotspots: 121 corridor, DNT corridor, North Dallas with Prestonwood and Highland Park, M-Streets, Addison. Love Field, DFW airport etc. Frisco is nice but it's too far to access much of Dallas conveniently. Just my two cents.

Its one thing to pay a guru thousands for a standardized course with few networking opportunities and another to pay just hundreds to go to BPCON and meet all kinds of folks. I have never paid a guru for a course but have gone to meetups and participated in 27 syndications over the past 5 years where I have followed the sponsors progress and learned all kinds of things. Most importantly, how to spot a good deal from a bad one. Meet local investors, follow what they do and if you like a deal they are doing, then participate. Worst case your deal goes bad, then consider that your tuition for an education....which is what you would have paid a guru anyway.

Hi Angela. Rowlett is in the Garland ISD which is not the greatest. So you will get class B and C tenants depending on how nice the house is. It will probably cash flow but you need to figure out what your goals are.

Thanks all for the honest feedback. I had my doubts which is why I posted on this forum before going in too deep down this path. I agree the risk is too great and I don't know the borrower all that well so definitely will take a pass on this.