I am building a house in west frisco in village lakes community. It will be completed in aug. for some emergency reasons I have to move back from dallas. I wanted to explore options to sell it myself so it is win win situation for me and buyer as well since house prices have gone up significantly after I signed the contract. Let me know if you wanted to get details
All the best,
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To give further background: I already own a house and it's paid off. I would thus want to buy another house to just rent it out, but would hate to buy something just cheap. I want it to be good enough that I would like to even stay in it someday. I could get a similar size resale for probably 50K less in the same area but then it would not have all the upgrades and plus would be be 4-5 yrs old.
One question to all the Pros: Do Renters prefer to have a Community Swimming Pool OR will they be ok if the community does not have one?
Also would Renters reject a house just because it is close to a major road (not a freeway)
Beyond that--jeez--you ask, "How much rent can I expect?" You're buying an investment property, you've identified one (new construction at that), and YOU DON'T KNOW HOW FRIGGIN' MUCH YOU CAN RENT IT FOR?? Further, you ask: "Is the rental market good?" And you're thinking about buying an investment property?!?!?
Yes, I'm yelling at you.
You're approaching it totally backwards.
Tip: Find a Realtor who specializes in investment properties. One who knows the difference between good investment properties and the newest shiny object.
Example: If Tad actually owns 150 rental properties, he's certainly worth considering. On the other hand, someone's offering you an extra year on a home warranty. Do your homework and find out what that's worth.
Please, please don't buy until you've done your homework. And you've got a lot to do.
Hope that helps.
I'd be happy to assist you if you are not currently working with a realtor, I'm also an investor and have helped many client investors purchase their investment properties. Feel free to call me.
Susie Kay, Realtor®
GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
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Lynn911 Dallas Realtor & Consultant
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The area you are looking at is a very hot rental area. Are you looking at new construction such as Sumeer, Landon, First Texas or Grand? All of these builders are good but you will do better having a Realtor negotiate for you. Trust me I have experience with these guys and they will try and talk you into not using an agent but I can can get you more for your money!
As a property manager I can tell you this area is great for rentals. Having a home with almost 4000 square feet will get you top dollar. It really depends on the updrades in the home. The properties I manage in that area get anywhere from $3000 to $4000 per month depending on the upgrades in the home.
If you would like more information and actual data for the rentals just send me an email and I will be happy to provide you details and a Comparative Market Analysis on rentals in that area.
Manager, Property Management & Leasing
Ebby Halliday Realtors
Mobile Site: m.sherryrenfroe.com
Ensuring that you make the right choice for you and your family is my ultimate goal. And I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.
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