A "good investment" would depend upon many things--especially the individual's specific goals.
Feel free to contact me If I can be of further assistance.
-Amy S Arey, Realtor
Halo Group Realty, LLC
Both Melissa and Anna are seeing an influx of people as jobs are being created in the DFW Metroplex. Currently there are lots more buyers than sellers. That can change of course. There is always going to be a rental market for homes that are well kept and updated. A good property manager is imperative.
Since you are out of state, property management is going to be important for both getting your property leased and on-going management. Calculating those and other costs as outlined by Brian will give you good insight as to whether this is a good investment for you. I lived in California for a while as well and had a rental property near Melissa that turned out to be a good investment, and, good property management is critical when you are out of state!
Wishing you the best in your investments.
JP and Associates
214 620 1615
The schools are exemplary rated in Melissa and have low student to teacher ratios. I have sold several investors in Melissa over the years and they rented the homes out within a week of closing and have kept them occupied.
Standard Pacific Homes
Real Estate investment all depends on your situation.
If you are purchasing a home for $125k and leasing it for $1295, then this is just barely a 10% return on your investment without considering any expenses.
If you are financing the home, then you have to take into account your additional mortgage costs. Keep in mind taxes, insurance, etc.
If your tenant moves out, how quickly can you get another one in? Do you need to account for vacancy in your figures?
Are you going to be managing the property yourself or are you going to hire a licensed property manager to handle that aspect for you? That is an additional cost.
Again, all of this depends on your particular circumstances, risk tollerance, etc.
I have helped several investors who are looking to purchase rental properties as well as flip properties in the Dallas area and have written several articles about investing on my website at http://BrianRayl.com.
I would be happy to discuss various aspects of real estate investment with you. Give me a call or shoot me an email. In fact, I have 2 great properties that I am listing that would yield nearly 20% on investment, and you can buy both of them for the same $125k if you are interested.
It's more than real estate. It's RAYL-Estate!
Keller Williams Elite