Pearland, TX · Member since 2017 · 67 posts · 21 votes
Hello all,
Since the Houston market is ultra-competitive these days, I would like to look outside the city and Beaumont, TX came on my radar. I looked at threads pertaining to the Beaumont, and they seem to have a favorable market. Can someone living or investing in the area give some insight on the current ongoings there?
Can I also have referrals to good, reputable property managers there?
@Mathew Wray I've attached a marked-up map of Beaumont, showing what I concentrated on when considering West Beaumont. I'm not an expert or a long time local but this is my opinion based on 18mo on the ground, researching, living and ultimately picking-up property in the area.
Some great new SFH building going on South of 90 that are nice as well as further out West on 90 going towards China, TX. And of course, as already mentioned, where I'll be focusing on moving forward is up North (not shown on the attached map) areas of Lumberton and Silsbee.
The major street names are not shown below but you can easily find them on google.
*Re: areas around the university, it's nothing I would ever touch. I stuck exclusively to 77706 & 77713.
On the topic of markets in Texas with colleges nearby, we've had a lot of luck in Denton. Both Texas Women's University and University of North Texas are nearby, and you can still find affordable investments in the suburbs north of Denton on I35. There's also strong job growth in the area through GE's manufacturing plant and some tech investment. Happy to talk more about it with you.
Hi Nick, we are doing this for a number of years (5) professionally so we leverage our relationships and joint buying powers to get preferred pricing and exclusivity from our builders. We normally prefer brand new product as they tend to perform the best in term of appreciation and are the most hassle free which works well for us and our clients.
In the Denton County, we have a project in Sanger - brand new duplexes, each door is 1,500 sq ft. 3 bed, 2.5 baths, 2 car garage, backyard and the perfect upgrades for rentals plus many amenities in the community which makes it great for the family type renter. Price is $379K and we have an optional mechanic's lean purchase at 369K for qualified buyers. Expected rent is $1600 per door so $3200 for the duplex and we think this is conservative based on the research we have as well as the comps.
Thank you Rod. I thought you were referring to apartments which is what I am looking for. $185K/door that rents for $1600/mo won't cash flow much if at all.
@Rod Zahavi and @Nick B. this thread is about investing in Beaumont TX, located in the SE corner of the state. Denton is over 300 miles away, north of Dallas, and is not relevant here. Here is a forum thread that you might find more appropriate:
@Minh Le I have a property under a wholesale contract in Beaumont. It's a SF 3BR/1BA that needs heavy rehab. Any interest? I just posted it in the Marketplace section but feel free to reach out to me here.