Home Buying in North Dallas>Question Details

Newbieinvest…, Home Buyer in North Dallas, Dallas,...

Is Lavon, TX a good place to buy a duplex as income property? Specifically Grand Heritage? I'm an out of state investor. Thanks!

Asked by Newbieinvestor, North Dallas, Dallas, TX Tue Aug 9, 2011

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I would not think Lavon is the rental capital of the world.
I'm thinking if you are buying a duplex, you are buying new.
This is almost never the best way to go either.
Lots of people have lots of different strategies, but I would probably be looking at homes
about 10 years old now....in cities with great school districts...with few rental options.
Always stay under $150,000 and if possible under $120,000.
Probably foreclosures are the best buys that need paint and carpet and yard cleanup.
May need appliances.
I would look at McKinney, Frisco, Coppell, Flower Mound, Grapevine, Denton
I think single family is almost always better than full duplexes.....here's why....exit strategy.
Who are you going to sell a full duplex to, 10 years down the road.....only another investor.
Because at that point the neighborhood won't look that great if they're all rentals.
There will be tons of cars in the street, yards won't look that sharp, some investors will be
skimping on repairs.....so if you need to sell...do investors want to pay top dollar or best bargain prices?
So if you buy single family...who do you sell to in 10 years.....could be another investor....but could be retail buyer too. So you have a better chance of getting top dollar for your sale on the exit with single family.

If you are out of state we can show you how to manage yourself, but if you plan to hire a property manager how many choices do you have in Lavon? Do you have a choice of the best?

If I was retiring I think Lavon might be a great place to live. Near the lake, away from the city but not too far. A little bit of country living without leaving the city. What we're seeing now with gas prices is working people wanting to move closer to their jobs. So does Lavon have major employers?

Just some things to think about. If you think we can help you make a better investment decision, please give us a call.
1 vote Thank Flag Link Wed Aug 10, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
Against professional code of ethics for a Realtor render any opinion of city, or community.

Recommend with all of our investors world wide speak with a real estate consultant prior purchasing any investment property .

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Wed Aug 10, 2011
Hi Newbie,

I sell a lot in Lavon, coincidentally I just wrote a contract with one of my buyers last night with DR Horton in Grand Heritage. I know all about those duplexes on the west side of Grand Heritage. Shoot me an email or call me and I'll be happy to go over all the details on them. Thank you!
Web Reference: http://www.realtordamon.com
0 votes Thank Flag Link Wed Aug 10, 2011
I don't know about Lavon, I will have 6 duplex units coming up this next week that are always rented and are approved for section 8.
Web Reference: http://ed.stewart@cbdfw.com
0 votes Thank Flag Link Wed Aug 10, 2011
Hey Newbie,

There are some decent deals in Lavon that are available. The pros of lavon are that it is near the lake. The downside is that it is so far from the main cities that the demand for the area are limited.

From what I am finding, there are no duplexes or larger available in that area. There are only 33 homes that are active and not under contract, and only one of those is listed under $100,000.

It all depends on what you are looking for in an investment and what your investment strategy is. Is there a particular reason that you are looking at Lavon? If you have any details on specific properties that you have found or been told about, please feel free to post the addresses here or email it to me and I can send you any information that I have on them.

Again, it depends on what your investment strategy is. I would love to talk to you about this when you have the opportunity.

It's more than real estate. It's RAYL-Estate!

Brian Rayl
Keller Williams Elite
0 votes Thank Flag Link Tue Aug 9, 2011
Hi Brian,
Thanks for the reply but I'm interested in Lavon right now. Do you deal with that area too? Do you know if that is a good area to buy in?
0 votes Thank Flag Link Tue Aug 9, 2011
There are a Tom of great deals in and around Dallas for investment property. I would be happy to talk to you about homes and duplexes that would earn you 10% plus return on your investment depending on what your investment goals and cash/credit situation are. Feel free to give me a call.

It's more than real estate. It's RAYL-Estate!

Brian Rayl
Keller Williams Elite
0 votes Thank Flag Link Tue Aug 9, 2011
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