Good afternoon, I haven't seen many post on the El Paso, Texas Real Estate Market. Right now due to Covid the El Paso Real Estate Market has been booming!! Unemployment rate has done down from 15% to 9% and for the most part everyone that lives here is considered essential workers.You have many migrating from LA, New York to live here. I'm am starting to build my investment portfolio and have done my research. I have listened to many bigger pockets podcast and other real estate investors none from the El Paso Market though. I would love to hear from you guys and learn from each other. I'm looking to buy and hold cash flowing and to flip properties. Let me El Paso Real Estate investors what you guys think. Thank you God Bless.
Investor · El Paso, TX · Member since 2020 · 38 posts · 10 votes
5y
@Reyes Tena
Hey, I’m pretty new as well. I’m doing this whole rei thing with my dad and will eventually start my own. So far We have a multifamily & a single family in Socorro. I’m familiar with the area being that I grew up in Socorro but Horizon is seeing a lot of growth. Being right next to each other I see the area will eventually grow as well. The new shopping center, the amazon distribution center & Chick Fil A on eastlake can only mean one thing. I’m hoping to find a realtor soon that can help me find mls deals as well. If you have a Facebook there are El Paso real estate investing groups and there are a few wholesalers that I’m aware of. Good luck!
Investor · El Paso, TX · Member since 2020 · 21 posts · 14 votes
5y
Hello Reyes, we are also from the El Paso area and are beginning our RE journey. We are currently finishing up the rehab on our first buy and hold property here on the eastside of EP. Feel free to contact me with any questions. We would love to help with anything we can and would love to share anything we have learned during our first RE investment. We can probably help each others success here locally. Look forward to hearing back from you soon. God bless!
Real Estate Agent · El Paso, TX · Member since 2018 · 15 posts · 7 votes
5y
Always nice to see fellow El Pasoan's in the forums. I agree with Reyes, the market has been great! Especially for sellers, just sold this past week a rental property, looking to put that money on a few others. If you guys ever need anything I'm always happy to help and share my experiences.
Hello fellow El Pasoans. I see multi-family unit deals on zillow and have put in an offer on one already. Although, in so many of these properties, mine included, the 1% rule doesn't match up. I know this is for the long haul, so I am willing to go forward with it.
@Jesus Ojeda what do you think about the buying and holding at this moment for investors?? I wanted to give it a couple of months for the house inventory to rise a little more to start investing... and of course see if any pre-foreclosures pop up with all this forbearance.
@Salvador SantaAna, well your getting your feet wet which is good. From what I learned the first investment is the hardest. I've been looking also in multi-family.. I think what helps us out a lot is that most of the people in El Paso are essential workers, those I would say are the best tenants to have.. I would say do your research on the new stimulus package on rents, just to see if tenants are still skipping rent. Were you thinking of going with a property manager??
El Pasoans, I was stationed there and have since but my wife owns a home there, single floor, 4 beds, 2 Baths, 1700ish sq ft. With the high taxes on the East Side (79938) how much do you think we can charge for rent if we choose to hold property?
Investor · El Paso, TX · Member since 2020 · 38 posts · 10 votes
5y
@Reyes Tena
Hey, I’m pretty new as well. I’m doing this whole rei thing with my dad and will eventually start my own. So far We have a multifamily & a single family in Socorro. I’m familiar with the area being that I grew up in Socorro but Horizon is seeing a lot of growth. Being right next to each other I see the area will eventually grow as well. The new shopping center, the amazon distribution center & Chick Fil A on eastlake can only mean one thing. I’m hoping to find a realtor soon that can help me find mls deals as well. If you have a Facebook there are El Paso real estate investing groups and there are a few wholesalers that I’m aware of. Good luck!
Investor · Northern California · Member since 2020 · 14 posts · 2 votes
5y
Hey guys I'm sooo happy to see you talking about El Paso. I'm from Cali with roots in E.P. and I'm looking to build a portfolio in EP but I'm having problems finding wholesalers.I think EP is A great place to invest in especially in times like these were most places seem a little bubbly. From my research I believe the Ep market wasn't affected much by the great recession.
Investor · El Paso, TX · Member since 2020 · 21 posts · 14 votes
5y
I am glad to see that we are not the only beginners here in the EP market. Do you all happen to attend any meetups here in EP? We would love to get to know some of you all and grow together. The fact that we are all on this forum says something about our goals and our willingness to follow through with them. Would love to have a lunch meetup if any of you are in! Maybe we can get a "newbie REA" going here in EP! :)
@Salvador SantaAna yea I think that's what I would do, it relieves many headaches as a landlord. I think as the multifamily is in a good area it will do great.. God bless your venture....
Great input guys if you have any resources that may help me in my journey feel free to inbox me. I have a few myself if you guys need anything... God Bless...
@Jesus Ojeda what do you think about the buying and holding at this moment for investors?? I wanted to give it a couple of months for the house inventory to rise a little more to start investing... and of course see if any pre-foreclosures pop up with all this forbearance.
We are experiencing great appreciation due to the massive lack of inventory. I believe 2021 will be more of the same, homes built 2013 and up have seen up to a 20% increase which is great. Of course location is the biggest factor in regards of the amount the home will appreciate but if the numbers work for you I'd say go for it. Appreciation should always be a plus and not the determining factor.
Investor · El Paso, TX · Member since 2015 · 14 posts · 8 votes
5y
Hey there everyone - I’m an experienced EP investor with several units of long term rentals. This is a solid market, but not flashy or red hot, not at all. You have to stick to the fundamentals, finding value in a rising market, and creating a long game. I am looking for gross income of $150 per unit per month and keeping my costs relatively low while providing a quality place where people want to live. Someone asked about Ruidoso ... that’s a very different market saturated with vacation properties. I’ll try to help you with El Paso topics.
Lender · El Paso, TX · Member since 2018 · 37 posts · 20 votes
5y
@Reyes Tena El Paso is a great market for buy and hold; low purchase price in a landlord friendly state. The of course is buying right. There is a shortage of inventory so home prices are high, but with the Moratorium ending, there will be plenty of deals on the market soon.