Attorney · San Angelo, TX · Member since 2018 · 14 posts · 7 votes
5y
I do! I do! Currently looking for 10+ units, either mixed use retail/residential or pure residential. I like San Angelo with its steady, growing economy. It's small enough right now so that institutional investors haven't taken over, but big enough to support the diverse economy. This may change once we have an interstate, so I'm glad to be getting in now! @Jade Vaughn, what's your answer?
Attorney · San Angelo, TX · Member since 2018 · 14 posts · 7 votes
5y
I do! I do! Currently looking for 10+ units, either mixed use retail/residential or pure residential. I like San Angelo with its steady, growing economy. It's small enough right now so that institutional investors haven't taken over, but big enough to support the diverse economy. This may change once we have an interstate, so I'm glad to be getting in now! @Jade Vaughn, what's your answer?
Real Estate Agent · Abilene, TX · Member since 2019 · 34 posts · 2 votes
5y
Amy!!! Are you looking on the MLS or specifically off-market deals?
I agree with your answer. I think San Angelo does have quite a few investors actively investing but there are still so many houses that are in need of our help. San Angelo also brings a lot of tenants because of the college, the base, the oil field, and/or other jobs. It's also a great retirement town, and not everyone is looking to buy a home.
Attorney · San Angelo, TX · Member since 2018 · 14 posts · 7 votes
5y
I'm looking at both MLS and off market. Working on building relationships too. I'm not in a huge rush yet, but I'm hoping to get something under contract before the end of the year. Are you looking for anything in particular right now?
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
4y
@Joe G., we were Air Force, and were stationed there as young airmen. Some of our tenants work at the base. It is an odd place to invest, as our aim was to buy in laterally trending markets, rather than the wildly swinging markets. We started buying in the last boom period, went through the bust. What we didn't count on was losing tenants with the oil jobs slowed down, as we thought we were aiming for military, police, firemen, teachers, etc. Houses in San Angelo are not only affected by the interest rates, but the oil patch.
@Joe G., we were Air Force, and were stationed there as young airmen. Some of our tenants work at the base. It is an odd place to invest, as our aim was to buy in laterally trending markets, rather than the wildly swinging markets. We started buying in the last boom period, went through the bust. What we didn't count on was losing tenants with the oil jobs slowed down, as we thought we were aiming for military, police, firemen, teachers, etc. Houses in San Angelo are not only affected by the interest rates, but the oil patch.
Hi Kerry, any zip code you can recommend at San Angelo, TX. BTW, I graduated from FIT few years ago, and will move back to Melbourne next year.
Residential Real Estate Broker · San Angelo, TX · Member since 2013 · 72 posts · 26 votes
4y
I am a Realtor, property manager, and investor in San Angelo. We had a big oil boom in 2013 that caused housing to skyrocket and it ended up busting when oil fell, but that was very short lived and only caused a temporary decrease in rents. Growth from our university absorbed the rental housing that was left from oil field workers leaving. We are traditionally a very stable market. Since the Midland/Odessa market has created more housing for workers, we have seen less overflow of those workers into our market. So, we are much less affected by oil activity than we were in 2013-2016. Hope that helps! I'm happy to answer any questions.
Phoenix, AZ · Member since 2021 · 504 posts · 282 votes
4y
For me personally, I like markets with greater diversification of business. I want to avoid a situation like what happened to the San Angelo housing market when the oil market tanked.
Rental Property Investor · Austin, TX · Member since 2015 · 36 posts · 20 votes
4y
I own a 24 unit and a 10 unit in San Angelo (I'm an investor living in Austin). I have not seen my rentals affected by the oil market at all, so I'd have to agree with Aaron on this one. My apartments are all geared towards lower income renters (I rent my one bedrooms for between $585 and $610/month plus a utility fee) and I'm almost always at 100% capacity. I think in any market right now there is a high demand for affordable living. I am currently looking for my next investment and San Angelo is on the list of areas I'm looking. I also want to add that I own some SF homes in Odessa as well, and that city is no longer on my list. I've found it to be much more volatile.