Anyone working in Midland or Odessa TX

2 Replies

Hello Darren, the main part you are missing is we are now transitioning from a sellers market to a buyers market. We are seeing a lot more properties come in the market and sit longer than we had experienced in the last few years. Still a good time to invest so long as always, make sure to get a good deal on the purchase. If so, the numbers will work out just fine on the rental if that that is the type of investing you want to get into. 

Agree with everything @Jesus Vazquez is saying. I highly recommend staying up to date on oil and gas industry trends as this is the biggest indicator of local economy health. Firms have become much more capital disciplined in 2019, and therefore have seen slower rates of growth which can translate to decreased employment growth and demand on housing. There has also been a sizable amount of new housing come into play over the last few years.

Long story short, it’s a cyclical market, but like all markets, understanding what drives the economy, is a great place to start.