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.