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Old 11-23-2007, 10:25 PM
 
1 posts, read 2,408 times
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I am looking to invest in Plano area, or Richardson. Any ideas about what are good buys, or good areas. What is the real estate market in those areas?
I want to buy a 2 BR condo, and rent it out. Any ideas. Thank you for your time in responding.
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Old 11-24-2007, 09:21 PM
 
1,518 posts, read 5,252,601 times
Reputation: 1486
Did you recently purchase a pair of bad idea jeans? Plano and Richardson single family homes are not known for their appreciation value. Townhomes in those cities are even more risky. Either burn your money in a bonfire or buy a townhome in those cities.

On the other hand, Uptown, Downtown and Oak Lawn in Dallas had a 97% increase in value in the last quarter. If you just have to buy in Plano or Richardson, buy a single family home. I think those had about a 3% increase in value in the last quarter.
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Old 11-24-2007, 09:42 PM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,195,726 times
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Condos and townhomes as an investment don't do well in Plano or Richardson, actually they don't do well in DFW at all. The monthly HOA fees are usually pretty high for anything decent enough. If you want to invest, I would recommend a single family home with at least 4 bedrooms, 2 baths and 2 car garage. These rent a lot faster for the most money. Moderator cut: no soliciting allowed

Last edited by da jammer; 11-26-2007 at 07:02 AM..
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Old 11-25-2007, 09:15 AM
 
4 posts, read 23,101 times
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Thumbs up thank you all for the great advise

Thank you for all the info, i appreciate that.
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Old 11-25-2007, 01:35 PM
 
Location: Dallas..Over 20 years!
47 posts, read 155,738 times
Reputation: 14
Default Condo investments in Plano/Richardson..not a good idea

Quote:
Originally Posted by moabdelsamad View Post
I am looking to invest in Plano area, or Richardson. Any ideas about what are good buys, or good areas. What is the real estate market in those areas?
I want to buy a 2 BR condo, and rent it out. Any ideas. Thank you for your time in responding.

Yes..family home market...great if you want an investment for rental. I think condo's will continue to fall in price for investment,..definately Dallas area if you want to do that or K. Hovanian at legacy in Plano.

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Last edited by Trainwreck20; 11-25-2007 at 01:44 PM..
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Old 11-26-2007, 10:26 AM
 
16,087 posts, read 41,006,064 times
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If I were going to buy a 2 bedroom condo, I would look closer in - the area off Greenville Avenue bounded by Lover's Lane and Skillman down to DART / Katy Trail expansion would be great, search for condos in 75206. SFH would be a much better investment in 75206 or 75214 however...
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