Market Conditions in Prosper>Question Details

Investor, Renter in Prosper, TX

Hi there, Is it a good time to buy an investment property in Prosper?

Asked by Investor, Prosper, TX Mon Sep 24, 2012

I'm looking to buy a single family house in the 250-300K range as an investment property but I'm not quite sure Prosper is the best location for that since I've not seen many houses for rent and lots and lots of new construction.

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Michael Brownstead’s answer
Hello Mr. or Ms. Investor,

I would be more than happy to assist, but I would need to speak with you and gather more info so that I can formulate a plan to best meet your needs.

Please contact me anytime!

Michael L. Brownstead, GRI
Ebby Halliday Realtors®
8920 Coit Rd., Ste. 100
Plano, TX 75025
Cell: 214-872-0400
0 votes Thank Flag Link Sun Oct 21, 2012
Prosper is a great community, but your right, you will not see many homes for lease in comparison to McKinney.

Prosper typically is a higher end market, so if you want a high end investment property it might work for you. I might suggest purchasing a couple of less expensive homes in a community that has a strong demand for rental property.

You will lease them quickly, keep them occupied and rental checks flowing. When you decide to turn or sell the property it will be picked up quickly by investors.

In summary, investment properties take many forms; but if you want rental properties to generate income then pick a community that has a proven track record for that.

Best of luck and call us if we can help,

Brent & Deb Wells
Broker Associate
cell: 972.825.3672
0 votes Thank Flag Link Thu Oct 25, 2012
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