All Forum Posts by: Pete Harper

@Brett Wagner I saw your post on East Texas investors. We will be retiring in November and move to Streetman TX just South of Corsicana. I’m looking to make contact with other investors in the area. We will be rolling over property from CA in 1031 exchange. At this point I’m researching local markets in TX getting ready for when we close here in Cali. Are there any meetup groups in Corsicana/Fairview area?

@Demetrius L Spencer, Greg and Thomas Good insight on Killeen neighborhoods North of 190 How about Harker Heights?

@Jason Wagner. When I look at the vacancy rate statistics in attached link BCS is below Texas median. Stats only run to 2016 however. The other TX market I’m researching is Killeen. Here the vacancy rate is over 2X BCS. Prices in BCS are higher than Killeeen. What other TX markets are you looking at? I hear there is still flood damage issues in Houston. I had a beach front duplex near Galveston. It did well on rental with one side full time and 2nd side weekend rental. Everything was going well until first tropical storm flooded with 18 inches of water. Rebuilt only to have Hurricane come 9 months later with 5 foot of water. After that I’m done with flood prone areas.

Doing some additional research.  I found the statistics on vacancy rates and rents.  The numbers look promising. Vacancy rate is 3.9%, below Texas and US average, Rents are still low however, below Texas and US median.

https://www.deptofnumbers.com/rent/texas/college-station/

Looking at some statistics on rent.  Killeen vacancy rate is higher than Texas and US.  Rents are low relative to Texas median.  

https://www.deptofnumbers.com/rent/texas/killeen/

I’m researching markets for multifamily investment. My goal is buy and hold for retirement cash flow. Looking at smaller duplex or fourplex. I assume the local market is driven by A&M student housing. Can anyone share their experience both good and bad. I’m familiar with student housing having managed a 20 unit complex near a university. Occupancy rates, how is the rental market doing? Thanks, Pete

@Allan Bishop Jr. Thanks Allan! How long have you owned property in the area? Has the market appreciated over time?

I’m researching multi family prospects in Killeen. My strategy is buy and hold for long term cash flow. I would be interested to hearing from other investors in this market. What is you experience both good and bad? I assume the local rental market is heavily tied to FT Hood military personnel. Is the turnover high with people being transferred? Thanks, Pete