How is the Landlord market in Abilene, TX?

[Bobby Narinov]

I am looking into investing in this market as a out of state landlord.
Since I am out of state I think it would be less risky to get a bigger property(5 to 50 units) that can have an on-site management or have a management company deal with the day to day operations.

What areas are attracting the good [long term] tenants?

Sharing any of your local experience would be greatly appreciated.

[Kevin Tran]

Hi, @Bobby Narinov  I am a landlord in Abilene and even though I like the area, I know that you can find better returns on your investment elsewhere. The reason that I say that is because we are a college/military town, prices here are not affect by the whole market. If you look at the stats, prices have steadily climb even in a down turn. Second, we partially experience the oil boom so there are a flux of people moving into town and they will pay retail for anything that pops up on the MLS.

If you are looking for quads, duplex, triplex, they are extremely rare in Abilene. You have your pick of SFR or large apartment complexes that run about 500,000-600,000 for 30 units smallest complex in a decent part of town. As far as Wylie area, people like to move there because of the school and social status, so people willing to pay more compare to other part of town.

It is getting extremely hard to find deal nowadays, uncles and grandmas are out selling houses for top dollars because there are buyers that willing to pay for it. I have been searching for the past 6 months looking at the MLS everyday, found 4 potential deals with 2 in the work. 1 of the deal I'm working on for 3 months now with IRS lien, that's is why nobody want to touch it. I am paying cash for that house and still have to wait forever with the possibility of never close on it.

Overall, Abilene is a low crime area with steady appreciation, it's great if you can find a good deal.  If anyone find a good deal in Abilene, I can front the money or partnership.  Until then, Abilene is a hard market to get into for landlord.  Any other questions, just post it in the forum and I'll help answer them.