All Forum Posts by: Nick Meservey

Hello DFW! My wife and I are hoping to learn more about the Fort Worth, TX market and up-and-coming neighborhoods. We currently work on the road and will continue to do so for the next few years; however, Fort Worth is our endgame and we are interested in finding a "home base" which we would use as a short-term rental for the majority of the time and eventually settle into ourselves. Any observations on what areas are seeing investment, as well as thoughts on how the current Fort Worth market looks today (overvalued, etc.) go a very long way.

Thanks,

Nick

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Mike,

I appreciate this feedback. As someone new, I didn't know if there were any show-stoppers when buying from afar for the first time, but have to admit that all these online resources and ability to connect with potential teammates makes the whole process less intimidating. It's good a reminder not to limit my options. I agree that the monthly costs down here in Florida could end up playing a huge factor as well.

Originally posted by @Mike D'Arrigo:

@Nick Meservey In my opinion, your work situation shouldn't be a factor at all. That has nothing to do with whether it's the right market. The only factor that should matter is which market fits your investment objective best and allows you to achieve those objectives. I don't know the Orlando market but I do know FL has very high insurance rates, much higher than Kansas City so be sure to factor that in to your analysis, I do know Kansas City very well and can tell you that it has a good combination of both good cash flow and strong economic and demographic trends. I'd be happy to share my insights and experience in KC with you if you'd like.

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Chase,

Lucky for me to have someone weigh in who has seen both markets - I really appreciate the input and yes, for the short time I've been in Orlando there's clearly been a lot of movement here. Your point on clearly defining goals has been a consistent theme from what I've seen on BP and shows to me that things aren't black and white.

I am and have been moving towards the KC route. This is definitely a long term play for me to build a portfolio of properties that will provide great passive income down the road.

Originally posted by @Chase Taylor:

I am newer to investing so I am looking forward to input from others but will share my feedback. I own a duplex in KC which I currently house hack. I also own a SFH in Orlando which is where I am originally from. What I have found (others may be seeing something different) is there is better cash flow at this time in KC; however, I see a better long term play for appreciation in Orlando. I flew to Orlando for the first time in a couple years last month and hardly recognized the city, the growth is incredible.

In either scenario you are going to need PM at some point so I would focus on clearly defining your short term and long term goals; are you trying to build a portfolio so you can live off the income, purchase a couple properties for supplemental income, scale a large RE business? Depending on your goals, I think this will better help you answer your own question. If your goal is a large portfolio, KC may be more appropriate because as you mentioned, you will always have ties there. Also, as you are from KC and presumably know the area, this may serve you well.

One last major point I would focus on is financing. It sounds like even if you purchase in Orlando you will not be occupying the property? Based on this you will be paying 20%-25% down. If you purchased in Orlando, occupied the property however long that may be, you will have more flexibility for a lower down payment. Yes, you will pay PMI and have less equity in the deal which will hurt your cash flow but this may allow you to turn around and purchase another property much more quickly. Again, this goes back to your goals and risk tolerance. Hope this helps.

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Wishing everyone a happy Saturday! I'll start by thanking the BP community for the awesome content that is consistently provided on this website. I have only recently joined the discussion and it's been a valuable resource in getting my feet wet.

I'm working to make my first rental property purchase within the next 6-9 months and am targeting a SFR that I can buy-and-hold and provides good cash flow. I work as an engineer on short-term assignments, currently living in Orlando, FL but based out of Kansas City, MO. My remaining time in Orlando is ill-defined and could be 6 months, could be 3 years; however, my job pays for me to travel home to Kansas City on a regular basis. When my time in Orlando is up, I'll take another assignment somewhere else.

With this in mind, I'd love to hear input on how much my work situation should factor in on where I choose to invest. Is it more valuable to be present here in Orlando for my first purchase or does it make more sense to purchase in Kansas City from afar, knowing I'll be more connected to KC in the long term? Should I just focus on finding the best deal regardless of location?

Orlando is often referenced as a great market for investors right now, but KC also shows a lot of promise from what I can see. People also talk about the broader market slowing down, but I like the idea of taking action now and using the experience to scale up if a buyer's market emerges.

Thanks,

Nick

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Hey folks!

Still pretty new to BP but have been thrilled to see how much knowledge and wisdom is out there. I have a steady W-2 with no intentions of leaving the job I love, but am ready to dive into real estate. My job keeps me on the road, so I was hoping to hear anyone's input on the markets below. I know a great deal can be found anywhere, but since I'm just starting out I want to focus my energy on one area (for now!).

Kansas City, MO

Dallas, TX

Fort Worth, TX

Austin, TX

Orlando, FL

My first priority is appreciation with cash flow being an added bonus. These are places I already spend plenty of time visiting family and friends.

Thanks!

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All Forum Posts by: Nick Meservey

Nick Meservey has started 3 posts and replied 5 times.

Post: Up-And-Coming Neighborhoods in Fort Worth, TX

Post: First-Time Investment Strategy - Kansas City or Orlando?

Post: First-Time Investment Strategy - Kansas City or Orlando?

Post: First-Time Investment Strategy - Kansas City or Orlando?

Post: First Timer - Where to Invest?