Anyone located or investing in Wichita Falls, Tx.

Member since 2020 · 3 posts · 0 votes

Is anyone currently in the Wichita Falls market or investing from out of town/state in the area? I recently moved here and been looking around the market to purchase rental properties. Looking around the area though it looks like this may not be the best housing market.

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Alfred Litton

Rental Property Investor · Valley View, TX · Member since 2018 · 174 posts · 87 votes

Zachary, my rather ordinary sfh properties have appreciated about 9-10% per year the last 2 to 3 years. It's not stagnant at all. Solid and steady more like.

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Alfred Litton
Rental Property Investor · Valley View, TX · Member since 2018 · 174 posts · 87 votes
5y
Value wise it's not what it was 3 yes ago, but you can still find okay properties with decent cashflow. Just stay away from the junk properties unless you're prepared to do rehab and even then avoid the "hood" areas.
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Zachary D Baldwin
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Member since 2020 · 3 posts · 0 votes
5y
Wichita Falls seems like a stagnant town that hasn’t and isn’t growing. With that said buying any properties here would be for the long haul correct? It doesn’t seem like you would earn anything in the way of appreciation.
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Tim Lockhart
Investor · Wichita Falls, TX · Member since 2008 · 62 posts · 12 votes
5y
Zachary, I've lived here in Wichita Falls since 2008, moved here with the Air Force and stayed after retiring. I've been full time investing and as a Realtor since 2013. This is a good market for investing. We've been in a seller's market for a few years now and 2020 has been a time of very low inventory and rising prices. I'm currently flipping homes and have some rentals as well. I'd love to connect and talk about the market, investing in general.
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Alfred Litton
Rental Property Investor · Valley View, TX · Member since 2018 · 174 posts · 87 votes
5y
Zachary, my rather ordinary sfh properties have appreciated about 9-10% per year the last 2 to 3 years. It's not stagnant at all. Solid and steady more like.
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Zachary D Baldwin
OP
Member since 2020 · 3 posts · 0 votes
5y
Originally posted by @Alfred Litton:
Zachary, my rather ordinary sfh properties have appreciated about 9-10% per year the last 2 to 3 years. It's not stagnant at all. Solid and steady more like.

Thank you for the insight, do you think that appreciation you are seeing is because of the portion of the market you are in "price/location" or do you think that's a broader trend across Wichita as a whole. I recently purchase a home in Burkburnett when I moved here earlier this year, and I planned on purchasing some more affordable properties in Wichita to rent and hold but the more time I spend in the area I just don't see anything really going on growth wise for this city. Of course COVID is a thing still and that could be playing a huge factor on why I don't feel like its a very lively area whenever I'm downtown and out and about.
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Tim Lockhart
Investor · Wichita Falls, TX · Member since 2008 · 62 posts · 12 votes
5y
Zachary, check out the Wichita Falls Chamber Facebook page and ChooseWichitaFalls.com. There is a lot going on here, there are a lot of good things and good trends. People are moving to town from out of state.
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Alfred Litton
Rental Property Investor · Valley View, TX · Member since 2018 · 174 posts · 87 votes
5y
@Zachary D Baldwin. Appreciation really is happening in the $90k and up properties. The C class stuff isn't going up, and I'd avoid that anyway. The university is merging with the Texas Tech system, and the "new management" will be promoting healthcare and tech programs and boosting the local community college's role in the area ad well. This should result in drawing more employers to the area. That said, if you are an appreciation investor there are clearly hotter markets. I'm an income inve5who is happy with moderate appreciation.
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Maria Naanaa
Member since 2019 · 1 post · 1 vote
3y
My property insurance skyrocketed 20% over the course of one year! Does anyone have a property insurance company that they recommend in Wichita Falls?
Thanks!!
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
I invest in Killeen Texas
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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
3y
@Maria Naanaa my guy @Cameron Moore insures my properties in Wichita Falls.
McCaw Property Management4.4905 Reviews
Website View Page
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Cameron MoorePro Member
Insurance Agent · DFW, TX · Member since 2021 · 348 posts · 245 votes
3y
Quote from @Maria Naanaa:

My property insurance skyrocketed 20% over the course of one year! Does anyone have a property insurance company that they recommend in Wichita Falls?
Thanks!!

Unfortunately, this is kind of the narrative for everyone as of late. That is why it is important to have a broker that can shop your insurance on every renewal to keep your cash flow as high as possible.
[email protected]682-593-4016
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Alfred Litton
Rental Property Investor · Valley View, TX · Member since 2018 · 174 posts · 87 votes
3y
Quote from @Maria Naanaa:

My property insurance skyrocketed 20% over the course of one year! Does anyone have a property insurance company that they recommend in Wichita Falls?
Thanks!!

This is happening everywhere, I'm afraid. My personal residence shot up 25%!!
I invest in WF as well and am dreading my insurance renewal notices in March. I will say that you are far better off with a broker. Mine is David Call in Denton with Ryan Everett Insurance. Always gets me the best rates and coverage. Doesn't matter that he's not in WF proper. He's telling me, though, that everything is up about 20% this year, so you're not alone.
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