El Paso Rental Market

[Cynthia Ortiz]

Hi everyone! 

I am not new to BiggerPockets, but this is my first time ever posting a question.  I have been buy and hold investing in distressed properties in Southern California since 2009. I am now ready to branch out into other markets and am looking on advice on investing in El Paso, Texas for under $125K. Is there anyone on the forum that has experience investing in Texas that can give me an idea as to which areas to stay away from? What are the pros and cons to investing in Texas?

Thanks a lot for your help!

[Edward Beck]

the area is crazy hot for rentals.  What are you looking at?  

[Alex Hogle]

My house has been on the rental market there for 4 months on the westside. It's so so 

[Edward Beck]

Originally posted by @Alex Hogle:

My house has been on the rental market there for 4 months on the westside. It's so so 

 Not sure why.  

Should rent within a month.  What’s the rent rate?

How big?

Are you using a property manager?

Condition?

All these is reason any property in any area in the contry would have problems renting.  

[Alex Hogle]

Edward, I’ve had the worst experiences in El Paso from realtors to propert management. Hired and fired three. And here we are. I had one property manager that always had it rented within 3 weeks, but she put awful tenants in there last that destroyed the inside. 

[Alex Hogle]

4bd 2.5 bath

West side

Built 2014

Pretty new 

[Chad Dougherty]

@Alex Hogle I work with Edward here in El Paso, probably live down the block from your rental.
Let's talk off-line to keep your privacy.

@Edward Beck

[Andrew Schlessinger]

All, I've found the information in this thread pretty informative.  I'm an experienced investor in Baltimore, Md and am planning to move back to Texas in 18-24 months.  El Paso is on the list, but nothing final.  

I'd like to connect with other experienced investors and get to know the areas over the next few months.  I don't know the areas, so I'm looking for more specific guidance on locations to avoid.  My biggest concern...war zones.  Almost all of my investments are Class C areas, so a lot of working class, lower-income areas, and S8 experience.  But I don't invest in heavy gang, drug, or violent areas.  Looking for multis, up to quads. Established areas are preferable, and I stick pretty closely to the 50% Rule.  Achieving the 2% Rule would also be nice (1.5% is about as low as I go), but my expectation is low based on what I've seen so far.  I have my own funding, but would be interested in finding new sources.

Thanks!

Andy

[Brenda Gbugu]

@Edward Beck looking to invest in Multifamily prop. Will reach out. Thanks 

[John Hollingsworth]

Hey guys, I’m a new investor looking to purchase property in El Paso. I’ve already been pre-approved for $200k. I’m not from there So I’m looking for guidance from a local expert. I understand the market is really for Cashflow which is exactly what I’m looking for. Property types I’m looking for are: 1. Duplex/tri/quad 2. student housing 3. Affordable housing. Any recommendations for agents? Is my budget realistic? Any info will be helpful! Thanks in advance

[Arturo Garza]

Look into Client, Horizon, and Socorro.  New duplex construction.   

[Zack Williams]

@John Hollingsworth

good morning John, I hope all is well

I'm in a similar situation as you are, have you had any luck in El Paso?