Student Rental in Lubbock TX.

[Katie Tseng]

I am thinking of purchasing a duplex in Lubbock TX. Can someone comment on the rental market in Lubbock, especially by the Texas Tech area?

[Jordan Sutherland]

@Stuart Chinworth  @Katie Tseng

If you're looking to acquire a duplex in a good area with good cash flow, it may be pretty tough. The small multifamily market in Lubbock is very competitive right now and feels slightly inflated in many areas. I've seen a few new duplexes near TTU for ridiculous amounts. Opportunities come up every now and then, but you definitely have to be quick to jump on them when they come up. A lot of the on market small multifamily properties are listed at prices that won't provide very good cash flow or ROI. There's opportunities out there, but they are few and far between. If you'd provide me with the details of the deal, I'd be happy to provide my two cents.

The student rental market is also a little saturated from all of the newer student housing complexes.  I've seen many people still getting good returns, so it's still achievable. It is imperative to buy the right property at the right price when dealing with those types of properties right now though.