This is the best post about buying a rental home in Texas. There are many great areas to invest in real estate around Dallas Texas. Melissa is one of those areas. Watch this post till the end to find out why it is a great place to invest in real estate in Dallas Texas.
Take a tour of one of the rental properties I helped a client buy in Melissa Texas:
When it comes to purchasing a rental investment property in Dallas, it’s important to have a different perspective than when buying a primary residence. The goal is to increase equity and receive a good return on investment. It’s essential to conduct due diligence before investing, as no one can predict the future. As a local real estate expert, I’m available to chat with anyone interested in investing in Texas, especially in the Dallas market.
Now, let’s talk about Melissa, Texas. This hidden gem is located 41 miles north of downtown Dallas and is an excellent choice for investors. The population in Melissa has increased by 582% between 2000 and 2017, indicating significant growth and demand for housing. With limited land available for development in the city’s ten square miles, the value of the property is likely to appreciate over time.
Melissa is situated in Collin County, which is home to Plano, Frisco, Allen, and McKinney, and is experiencing a surge of new businesses moving into the area. The median household income in Melissa is over $113,000, indicating that people living there are likely to afford homeownership. Moreover, 87.7% of the housing in Melissa is owner-occupied, leaving only 17 homes available for rent at the time of this recording. In the past year, 158 homes were rented, leaving a high demand for rental properties.
The public schools in Melissa are highly rated, adding to the city’s appeal. The area’s low supply and high demand make it an excellent location for investment property. Not only can you collect rent and increase your wealth, but you can also benefit from property appreciation over time. Recent historical data shows that average home sales prices have increased annually from 2018 to 2020, making Melissa an excellent choice for an investment property.
In addition, new construction homes are also a great option, although not all builders will sell to investors. However, I have contacts with two builders who allow a limited number of homes to be sold to investors. I have helped many clients purchase new construction homes as investment properties in Melissa.
If you’re interested in purchasing an investment property in Melissa or want to discuss other options, feel free to contact me. I’m here to provide guidance and help, with no pressure or sales tactics.