Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
I know that some of the bigger markets have had lower occupancy rates in the last couple of years. Interest rates dont help. Just wondering how people see the Fort Worth Market. If you are actively purchasing, flipping or land lording, I would like to hear your opinion of how the market is doing. Also, what, if anything, are you doing different now from before.
Great question, because Fort Worth is not one market — it moves neighborhood by neighborhood, and by property type and price point. Instead of a single occupancy number, I would look at recent closed sales and active listings in the specific areas you are considering, along with days on market, list-to-sale price, and whether rents are keeping pace with prices and expenses. For rentals, talk with local property managers about turnover and demand for that bedroom count and price range; for flips, focus on renovated comparable sales and realistic repair timelines. Interest rates do change the math, so underwrite conservatively and let the local data, not a headline, guide your next offer.
@Rick Pozos I'm in PA so I'm no help on Fort Worth, and I'm guessing you know Texas way better than I do anyway. As for what we're doing differently, mostly getting more creative on terms. Stuff that's been sitting is a lot more open to seller credits or a longer close than it was a couple years ago. We've also gotten pickier about reserves on older properties.