Rental Property Investor · Brownsville, TX · Member since 2019 · 60 posts · 33 votes
Hello everyone!
I´m an investor based in Mexico City, Mexico.
Since Mexico´s economy is doing terrible, after loosing aprox 24-30% of the value of my apartment buildings and houses (no mortgages, thank God!), I am relocating assets to South Texas.
Mcallen, TX · Member since 2017 · 92 posts · 72 votes
6y
Welcome to BiggerPockets! I also live and invest in the McAllen area. The Rio Grande Valley is seeing lots of progress and local investors feel it's a great time to be in this market!
This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.
Real Estate Agent · Austin, TX · Member since 2019 · 235 posts · 194 votes
6y
Welcome to Texas, I don't know much about South Texas, I am in Austin but I've been hearing a lot about people being interested in El Paso and McAllen. I know El Paso is booming but I've heard that getting financing in McAllen is difficult. Best of luck to you.
Since Mexico´s economy is doing terrible, after loosing aprox 24-30% of the value of my apartment buildings and houses (no mortgages, thank God!), I am relocating assets to South Texas.
Charles, welcome you are not allone there are lots of folks doing the same, Mexico is terrible for anyone with assets. It will get worse, good time for you to
Charles welcome to BP. You are not alone, lots of folks are doing the same, Mexico is going through a terrible economic downfall and will get worse.
Real Estate Agent · McAllen Texas · Member since 2018 · 188 posts · 186 votes
6y
@Charles Large Welcome man! I live in McAllen and invest here. I've been very satisfied. Best of luck and feel free to PM me if you would like to connect
Welcome to Texas, I don't know much about South Texas, I am in Austin but I've been hearing a lot about people being interested in El Paso and McAllen. I know El Paso is booming but I've heard that getting financing in McAllen is difficult. Best of luck to you.
Since Mexico´s economy is doing terrible, after loosing aprox 24-30% of the value of my apartment buildings and houses (no mortgages, thank God!), I am relocating assets to South Texas.
Charles, welcome you are not allone there are lots of folks doing the same, Mexico is terrible for anyone with assets. It will get worse, good time for you to
Charles welcome to BP. You are not alone, lots of folks are doing the same, Mexico is going through a terrible economic downfall and will get worse.
Things are going from bad to worst in Mexico. I had to be very creative to unload my properties.
@Charles Large Welcome man! I live in McAllen and invest here. I've been very satisfied. Best of luck and feel free to PM me if you would like to connect
Hello Boone! Thanks for the offer. I will contacto you.
Mcallen, TX · Member since 2017 · 92 posts · 72 votes
6y
Welcome to BiggerPockets! I also live and invest in the McAllen area. The Rio Grande Valley is seeing lots of progress and local investors feel it's a great time to be in this market!
Realtor · El Paso, TX · Member since 2017 · 86 posts · 50 votes
6y
@Charles Large I am fully aware of the economic changes that are coming to Mexico, the political influence is and will definitely have a massive impact on investors' portfolios.
I was recently reached by a Mexican investor looking to bring most of his reserves to town due to all of this. His goal is convert it to cash flowing properties - which here in El Paso, is not hard to find at all.
Good luck in your new venture! reach out if you need any local guidance.
Welcome to BiggerPockets! I also live and invest in the McAllen area. The Rio Grande Valley is seeing lots of progress and local investors feel it's a great time to be in this market!
Thank you, Erik! Perhaps we can talk about McAllen some time!
@Charles Large I am fully aware of the economic changes that are coming to Mexico, the political influence is and will definitely have a massive impact on investors' portfolios.
I was recently reached by a Mexican investor looking to bring most of his reserves to town due to all of this. His goal is convert it to cash flowing properties - which here in El Paso, is not hard to find at all.
Good luck in your new venture! reach out if you need any local guidance.
Mcallen, TX · Member since 2017 · 92 posts · 72 votes
6y
@Charles Large whenever your free give me a call. We are actually holding our 1st McAllen Real Estate investors meeting for all new and seasoned investors Monday the 16th of this month at Buffalo Wild Wings at 7pm. If you're in town stop on by!
Investor · CA · Member since 2019 · 56 posts · 25 votes
6y
@Charles Large Welcome to Bigger Pockets! BP is the ultimate learning center for real estate investment. At BP, I've found that not only can you network with other real estate investors, you can learn from the informative forums posted daily on the site, find properties that are for sale, and take free courses. You have come the right place and I wish you best of luck. Feel free to reach out.
Is El Paso really booming? I lived there for a year as a kid and have a lot of family there still, but they say EP is for old people. Is the boom in senior housing? ; ) Seriously though, I have a special place in my heart for EP, would LOVE to invest there if there are indeed cash-flowing opportunities that aren't next to impossible to find.
There are more and more out of state investors looking to the El Paso, TX, market now than ever, And there are a ton of reasons, for a long time this Texan city has been ignored especially for the other big cities (Dallas, Houston, Austin and San Antonio), but now the city is showing so much potential for Real Estate Investors.
Affordability - El Paso was named the most affordable city of the entire country by a move.org study.
Students - Having UTEP, Community Colleagues, Texas A&M campuses - With over 25K students on UTEP alone.
Infrastructure - There is a new toll charge high-way that recently opened up, with an investment of over 600 million dollars from the Feds. That means we rarely have any traffic
Military Base - Major employer and source of renters (I currently have 4 military personnel as tenants).
Employment - The vicinity with Mexico attracts a ton of companies who make business with Mexico.
El Paso–Juárez is a major center for manufacturing and international trade. It is one of the largest ports of entry on the U.S./Mexico border.
Returns
With some creativity you can find single family rentals that meet the 1% rule, Although multi family is the way to go and you can reach the 2% Rule. 2% Price = Rent per month. These numbers are hard to find in any of the other 4 cities in Texas. On top of that you can get small single family units for $70-$80K which if you use a conventional loan with a 15% down payment (since its an investment property) makes it very affordable to get started in Real Estate.
So you should definitely consider El Paso as an investment city, its no longer a city for old people lol ;)
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
6y
Hey @Yezenia Hernandez there are cash flowing opportunities in just about every city in the country. YOU just have to do some work to find them. MOST are NOT going to be easy pickings on the MLS. You have to get good at marketing, networking and searching for deals. THAT is how you will be successful in real estate or any business that you want to get into. Lots of hard work = lots of reward.
There are more and more out of state investors looking to the El Paso, TX, market now than ever, And there are a ton of reasons, for a long time this Texan city has been ignored especially for the other big cities (Dallas, Houston, Austin and San Antonio), but now the city is showing so much potential for Real Estate Investors.
Affordability - El Paso was named the most affordable city of the entire country by a move.org study.
Students - Having UTEP, Community Colleagues, Texas A&M campuses - With over 25K students on UTEP alone.
Infrastructure - There is a new toll charge high-way that recently opened up, with an investment of over 600 million dollars from the Feds. That means we rarely have any traffic
Military Base - Major employer and source of renters (I currently have 4 military personnel as tenants).
Employment - The vicinity with Mexico attracts a ton of companies who make business with Mexico.
El Paso–Juárez is a major center for manufacturing and international trade. It is one of the largest ports of entry on the U.S./Mexico border.
Returns
With some creativity you can find single family rentals that meet the 1% rule, Although multi family is the way to go and you can reach the 2% Rule. 2% Price = Rent per month. These numbers are hard to find in any of the other 4 cities in Texas. On top of that you can get small single family units for $70-$80K which if you use a conventional loan with a 15% down payment (since its an investment property) makes it very affordable to get started in Real Estate.
So you should definitely consider El Paso as an investment city, its no longer a city for old people lol ;)
Fascinating! Thanks for taking the time to list all those factors. It’d definitely be nice to invest in a city I actually know and love.
I always thought of UTEP as a commuter college. I’ll have to check out their near-campus housing stats. Thanks again!
Realtor · El Paso, TX · Member since 2017 · 86 posts · 50 votes
6y
@Yezenia Hernandez please do so! I moved from London and found El Paso a perfect city for anyone working remotely specially for investors pursuing financial independence. you have an amazing living cost, my mortgage is fully paid by one of my rentals, perfect Sunny weather almost everyday, great renting market, two airports (Juarez and ELP). That means I can fly to the beach for $200 return. and a place I can snowboard with a 2.5 hours drive :), oh and have 7 golf courses within 45 min drive.
We have a Top Golf, iFly, and a water park, Great Wolf Lodge resort planned., a soccer, baseball, and hockey teams
Realtor · El Paso, TX · Member since 2017 · 86 posts · 50 votes
6y
@Yezenia Hernandez We do have a couple of decent ones they are held run once-a-month. @Jesse Ramirez hosts one downtown, and there is another one called EPIC. Let me know when you are in town.
Specialist · Las Cruces, NM · Member since 2009 · 557 posts · 71 votes
6y
Thanks for the shout out @Yasir Einaudi!
@Yezenia Hernandez we run a social mixer/meet-up the last Thursday of every month called the SouthWest Real Estate Collab. Feel free to reachout on our fb page. We'd love to have you when you are in town. Cheers!!!
Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
6y
Hey @Charles Large, I'm proud of the way you are letting your vision guide you! There are things to be gained with your move and if you are willing to mold your life to accomplish goals and visions you'll probably achieve them!