Investing in the West Texas Market (Heart of the Oil Industry)

[Bruce Ray]

I'm a newbie to REI in the Permian Basin. I have made and been turned down on many offers (Still looking for a yes). looking at our West Texas economy and the "pandemic", I'm curious if this is the ideal time to continue to invest? One local investor has spent this last paying off properties in anticipation of the bubble. Inventories are low, price are high, and cash flowing prospects seem scarce. Sorry to ramble, just trying to understand how to push forward in the current situation in my area.

[Bruce Ray]

I have thought about other markets, but I'm literally starting at ground zero. I have a local bank that is willing to fund 100% of my flip and only pay interest during rehab and sale of property. So I was trying to flip and raise capital to invest on long term hold properties. The properties in Ohio seem really good, but long distance investing is extremely foreign to me. I work in the oil industry and can tell you first hand we have had a huge knee jerk reaction. Almost an immediate halt in work after Saudi Arabia and Russia made their announcement. My local bank is not going to fund any long distance investments.

Thanks Jonathan