All Forum Posts by: Jacobe Kendrick

Amanda give me a call 4325596723

@Tony Whitaker what town is this property in?  

Also a good lawyer is Brian Martin at West Texas Abstract.  Shane Stokes in Midland is good as well.

Good gauge for rental market in Midland is rig count.  Good way to hedge against a bust is make sure you have enough equity/cash flow to survive against a bust.  This last downturn more people hung around the area than in the past. Home sales never saw a dip.  Currently there is nothing on the market as far as rentals go.  Even when there are more units available during a downturn, there are a ton of landlords that are amateur landlords.  Many of the tenants that I have currently have all come from amateur landlords that do not know the laws or the common practices that professional landlords usually adhere to.  There is great opportunity here if you are disciplined.   

Lupe Perez  in Midland. This forum won't let me post his number.  If you need it, you can send me a message.

Hello Belinda, 
Can you send me the address to this property. [email protected]

What's the address?

What's the address?

Can you send the link to that article.  I would be interested to see where they are pulling the stats from. Prices in Midland have stayed fairly stable.  There just isn't enough inventory out here.  If you are talking rental rates, they have gone down significantly.  Absorption rate has finally started to shift towards to a buyers market recently, but even that is tricky with the oil price/market here.  If you purchased a home in Midland in 2014, you could be in trouble if you need to sell your home because you purchased at the peak of the oil price.  

@Brad Gibson you are correct when you say rental rates have fallen and home prices have stayed high.  This is due to the market, not homeowners though.  Even though the price of oil has fallen, the absorption rate in Midland has still been very low.  Usually hanging around about 2 months, so technically it WAS still a sellers market here.  In recent months, the absorption rate has slowly crept up.  The last numbers that my office pulled were around 4 months in some price ranges.  

I think you are very wise in saying that you are not interested in timing the market.  If you are interested in investing here, we should connect.  A deal is a deal in any market and I am always coming across great deals in Midland and Odessa.  My company is getting ready to close on a deal at the end of November.  

Rentals are a different animal.  Rental rates have dropped significantly and there are a ton of rentals on the market here, but there are some strategies that can combat that.  I'd love to talk to you about that privately as well.

Welcome to BP @Rodriguez Victor. Get connected and familiar here. We also have a REI group that meets twice a month in the area. We have one meeting in Midland and one meeting in Odessa each month. You can find it on meetup.com, it is called the Permian Basin Real Estate investors Group. I try to make at least one of the meetings each month. There are a lot of good people/investors in that group. I'm a Realtor/investor in the are, feel free to reach out.