Midland Texas Investors

[Adam Engleman]

Hi,

I’m from New York and looking for my first intended investment property.

Midland TX Investors

Can you recommend a property Management Company there?

And is Midland a lucrative investment area for rentals?

[Mason Moreland]

@Mike Evans

It’s good, but only if you are 1,000% sure you are getting in below market price and have set parameters for getting back out while things aren’t crashed.

We cashflow like crazy, but waited for a screaming good deal. Most deals aren't on MLS, particularly with multi family. Most potential multi's and SFRs that are below market here are rehab or D-class of late. Best method I've found is to pound the pavement and look around in person.

While you can find excellent deals on occasion and cashflow like crazy, it is really still a small town type of place and being there and having the personal connections goes a long way here. Just objectively, I would say look elsewhere in TX for more stable rent prices and more stable home values. 

High oil price means more activity, means more people, means more expendable $, means more demand, means higher rents. Low prices mean less activity, less people, less expendable cash, less demand, lower rents. You WILL track with the price of oil and amount of O&G activity out here.

Best places for A- and B-class SFR are north of I-20 business (except for D-class SFR), North/East of Andrews Highway/191, and west of Big Spring/Lamesa Highway. Under appreciated area is the southwest part of town inside the loop B-class and C-class SFR.

I think Lubbock has more long term and equity potential, and we have invested heavily there in the last couple years. We may get out of Midland soon, but only if opportunities with higher cashflow present themselves in other markets or industries.