East texas housing market
Hello everyone! I am hoping to start a thread on the local housing market in our specific area. I am a newbie investor in the Longview/Kilgore (possibly Tyler area) and am hoping to find some trends in the area. I am aware that ALL markets are hot right now, but is ours hotter than the average market? Are rental rates climbing and at what rate? What is the average cost of a 2/1, 2/2, 3/1, 3/2, etc., rental in Kilgore and what about Longview? What do you guys predict for our area? Any comments about the current and future East Texas market would be greatly appreciated. I am also wanting to network with fellow investors in the area!
That is a really hard question to answer. Rents are going to be different from neighborhood to neighborhood and size / condition of the property will also play an important role. As to what is the market going to do... Again a difficult question to answer. I see 2 potentials. 1- The market slows down and levels out without a crash. 2- The bubble pops, I don't think it will look like 07 though. I feel like the banks probably learned a lesson or two. Something to keep in mind is Longview getting the Gap distribution center. It is going to be an 80k sqft facility and I dont remember off the top of my head but they are anticipating something like 1200 new full time jobs over the next 2 years. I think this will defiantly help keep our market strong. If you have any questions feel free to reach out.
@Bryan Price
I can tell you what rentals go for in the White Oak area. My family and I rented here for a few years prior to purchasing our first home last year. It does very Neighborhood to Neighborhood though. We were paying $1100 for a 3/2 about 1200 square feet. Our landlord was very nice and quickly fixed any issues we had but was happy to give us back our deposit since they were raising rent for the next tenants. I am now looking to invest in the Longview area as well. I’m primarily looking for small multi family.
@Bryan Price
I'm in Longview! I'm just starting on my REI journey. We need to connect!
@Tyler Lawhorn same here
@Nick Dunin @Tyler Lawhorn @Bryan Price
Following up on this post 10 months later.. Any updates? Still in the game? Will be in Longview and Kilgore and Henderson within the next week. Would be up to grab lunch or coffee if any of you are still in the real estate game in East TX.
@Dylan Whitcher I'm still here reading books and listening to podcasts while I build up savings. Are you moving to the area or just passing through?
@Tyler Lawhorn I live in Fort Worth with my wife. We have family in Henderson and the barrier to entry is much lower out that way.
Originally posted by @Dylan Whitcher:@Nick Dunin @Tyler Lawhorn @Bryan Price
Following up on this post 10 months later.. Any updates? Still in the game? Will be in Longview and Kilgore and Henderson within the next week. Would be up to grab lunch or coffee if any of you are still in the real estate game in East TX.
Hey Dylan, sorry man didn’t see your post earlier. I’m still in it and very much new. In the middle of my first deal. Pm me next time you’re in Longview.
@Nick Dunin Sounds great! I will do that.
Hey guys, I would definitely be interested in getting together and connecting as I am also looking to invest in properties in the area.
Quote from @Dylan Whitcher:
@Nick Dunin @Tyler Lawhorn @Bryan Price
Following up on this post 10 months later.. Any updates? Still in the game? Will be in Longview and Kilgore and Henderson within the next week. Would be up to grab lunch or coffee if any of you are still in the real estate game in East TX.
Hey, sorry, just saw this post
good to see some newbie East Texas investors on here to connect with.