New investor in Lubbock, TX

[Dan Romero]

Hello Biggerpockets,

My name is Dan. I'm a new investor in the Lubbock, Texas area looking for a reputable licensed contractor to help me rehab rental properties. I'm also looking for a real estate or business attorney in the Lubbock area to help me formulate a LLC and won't break the bank. Any recommendations would be greatly appreciated.

Thanks for checking out my post.

Dan 

[Shaun Morgan]

I'm no expert, you should definitely get @Matt Moreland to weigh in. But my view on Lubbock is that Job Growth is steady because of the university here. But on top of that, with the massive demographic shift going on out of more densely populated areas, especially since COVID, I've seen a good amount of growth and I think people are going to keep doing that. That is just my thought.

Crime rates are high is certain areas, but not in others. You just have to know where you are investing in Lubbock and adjust accordingly. You have two options, invest in the higher crime areas with poor school systems and probably rely heavily on section 8 housing for cash flow, but not get appreciation, or invest in the nicer areas with a bit more capital going in and appreciation. Generally speaking the western side of Lubbock is nicer than the Eastern side, but that is a wide over simplification.
I decided to invest here because of cheaper houses compared to other markets (like Utah where you're coming from or Colorado where I came from) and nice cash flow. If you're in it for appreciation other markets are probably better for that, but cash flow is king over here. In my opinion.

Originally posted by @Brandon Pace:

I'm considering building a new SFH in Lubbock For a long term buy and hold. 3 bed 2 bath. I'm trying to get to know the market.

Would you mind sharing with me why you have decided to invest specifically in Lubbock.

Job Growth: I've heard that healthcare jobs are growing. An important part of economy is Texas Tech. What job growth drivers do you see over the next few years?

Crime Rate: I'm a little concerned in what I’ve heard that crime (burglary) is common. What do you know about the crime rate?

Population growth: what do you know about migration and organic population growth in Lubbock?

School Ratings: How are the school ratings?

Appreciation: How do you see real estate appreciating in the next 5-10 years?