El Paso/ Las Cruces Market?

Question

Hey guys! I would love to hear some insider knowledge about the market there. I would love some info on the do's and don't's of the area as well as any basic market knowledge in these areas. I would like to branch off from solely wholesaling and get into rentals,fix and flips, homestead investing and owner financing. I am familiar with the lay out of the area after being stationed at Ft. Bliss from 2016-2018. I am going to be making a trip out there in August to D4D and attend a local REIA meeting so if you would like to coordinate an in person meeting I am more then open to that idea. Any and all info helps!

Thanks, and happy investing!

Yasir Einaudi · Answer

Hello Draven,

Regarding the EL Paso Area, There are a ton of students - over 24,000 of them only in UTEP, not counting the Texas Tech, nursing colleagues and Community Colleges, etc. On Campus Housing is almost nothing, probably about 200-300 units If that.

Properties around UTEP tend to be pricey, Sunset Heights, Kern Place,  Mesa st.

Most students get together and rent apartments, and some share bedrooms.

ROI depends on the type of property, if you rent rooms out, or full units.

Ft. bliss is another massive market which you probably know already.

Partnerships are common here, I’ve partnered in my last deals, also, I know a wholesaler that is opened to partner - I can introduce you guys.

regarding the earnest money on average is about $500, but I know of a wholesaler that staples $1 bill to the contract lol, it’s all depends how serious you are I guess.

Anyway, let me know when you are in town. We can meet for a coffee.

Thanks,

Yas

Draven Reel · Answer

Yasir!

Great to hear from you man, let's grab that coffee the second week of August (9-11th) if you're free. I'd be ecstatic to meet anyone willing to sit down and discuss tricks of the trade in their specific market. Thanks for all the info, it is greatly appreciated.

Best Regards,

Draven