Melvin Feller Looks at Why Buying Texas Real Estate is Smart
Melvin Feller Business Ministries Group in Burkburnett and Dallas Texas and Lawton Oklahoma. Our mission is to call and equip a generation of Christian entrepreneurs to do business as ministry. We provide workshops and resources that help companies discover how to do business God’s way. When the heart of a business is service rather than self it can be transformed into a fruitful business ministry earning a profit and being of service to the community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations.
Currently, Texas is experiencing an economic boom, making it an attractive place for in state, out-of-state, and even foreign real estate investors.
From 2016 to 2018, five of the ten fastest-growing U.S. cities were in Texas. In 2018, more than a quarter of Texas' growth was concentrated in the state's cities. North Texas is a particular hot spot for growth.
Cities like Frisco, Denton, Flower Mound, McKinney, Plano, Grapevine and Keller are all experiencing unparalleled residential growth, mostly due to the emergency of a high-tech industry and complementary businesses. Some cities have even expanded their borders to accommodate the new residents.
The job market is strong and growing, the cost of living is affordable, land is easy to purchase for non-residents, and the tax incentives are attractive. It's "big city living" with plenty of space. There are plenty of opportunities for smart investors looking to start or expand their portfolios.
However, in Texas, there are great opportunities for creative real estate financing and wide-open spaces as well as great residential and commercial opportunities.
If you are a beginning investor, first, recognize that it will probably take several years of real estate investing before you will reach your personal financial goal. Assuming that you want to have enough income from your investments to not have to work for money, I estimate about 10-15 years, if you work part-time at it while having “a day job.”
If you get to a point where you can do it full time, it may take a few years less. Some investors disagree with me on this. They apparently are very success in a much shorter period. If you can imitate them, fine. However, the average investor will take; it seems to me, the kind of time that I just indicated.