All Forum Posts by: Scott R.

Bunch of people on here active in the amarillo market. It’s actually a super competitive market. Amarillo has won several awards in different publications over the last 6 months or so, including the #1 slot in “best place to buy rentals” from motleyfool. The price for properties have gone up substantially in the lower income areas, mostly because there is little to no inventory.  As a whole the Amarillo market never really appreciates much, maybe a percent or so a year but it’s pretty flat, we don’t have the ups but we also don’t have the downs. 
obviously it’d depend on your type of property, but cheap properties have gone up and middle range properties have dried up. The “wholesale” type properties here are almost non existent, and go super fast when a decent deal comes up so being out of town you’ll have a huge disadvantage there. Last few houses I’ve gone to look at sold in 20-30 minutes many times without the buyer even going to the property. 
Rental prices really haven’t gone up, some seem to of even gone down over the past 18 months or so, we’ve had huge growth in the newer apartment complexes and it’s taken a great toll on b and c class multi family properties, although apartment complex type units rarely come up for sale in this area it’s hurt the sfh rental prices some for similar type 2/1 class b/c units. 
it’s a solid market, with imo little risk, but it’s hard to buy right at the moment. 

Shoot me a message bob I can probably get this taken care of for you may also be interested in property 

Why not sell the first couple to stack some money? 

There’s always hard money loan, although higher rates and they’re not gonna loan more than 75-80% generally. 

There’s all kinds of private money, with all different terms and rates, just gotta find what works for you. 

There’s a local reig Tony Link runs, he’s on here but won’t let me tag him. There’s more local people on here then you’d think just not many active on here but they’re reading this 😂

Facebook group “Amarillo Reig” related to the group.

There’s 5+ new wholesalers who actively post stuff, but imo 9 out of 10 aren’t really deals. I’ve slowed down haven’t bought anything to keep as a rental in over a year, probably closer to two, prices just gotten high, and I feel it’s more of a temporary high. I’ve done 4 flips this year, all decent but isn’t like it used to be.

Amarillo market is currently flooded. Market is so flooded with people who want to get into the game it’s insane. Prices through the roof. Newer people to this flip game are overpaying, and getting lucky and overselling. 

If you pay attention, many of the local flips end up being turned into rentals or they have to carry the note just to get rid of it. They got lucky on one or two, sold at the top of the market and think it’ll always be like that. 

So here I am, overpaying just to be competitive. 🤦🏻‍♂️

Thats huge for amarillo standards.

But id say the opposite of cade, theres really not much on the market with the exception of a few 3-5mil properties that are overpriced Imo. Not sure how much you want to 1031 but in the smaller multi family from duplex to under a million theres almost nothing on the market in Amarillo. 

Zane Oliver and Austin Sharp with Kore real estate your best bet for milti family 1031 exchanges in amarillo. Theyre both on BP but wouldnt let me tag them 

Smaller projects Kiel with KSE plumbing has been awesome, when hes tied up Dependable Plumbing is who i call.