Lake Jackson Wholesale?

Question

Hi everyone,

I'm looking for some wholesale properties in the Lake Jackson area, or any areas around the refineries. It's my understanding that a few of the refineries are going to be bringing in upwards of 15k workers for some major refinery renovations. My rental target pool is for the visiting executives and middle management for the contractors that are coming to do the work.
My first by was a one bedroom condo in Lake Jackson. Paid 53k (appraised same), $20k in renovations and upgrades. Looking to rent for $2200 a month. I'm looking to do this again.

Let's talk!

Cory LaChance · Answer

Hey @David Durall, I live in Lake Jackson and you are correct with the amount of work coming in to town. Real estate has been booming the last 2 years or so. I have a 5 properties in the area and working on a couple more, all single families (3-2's & 3-1's) and none of them rent for $2,200. Do you currently have your property rented at that price or did someone tell you you could get that price?  There are only a handful of condominiums in town and most are class c type property. Also keep in mind that there are currently 5 apartment projects going on right now within 10 miles of each other. The total units added to the market is around 1,000. The most recent to come onlin is renting a 1 bedroom for $1,250; and these a very nice apartments (Granite counters, stainless appliances...)  Anyways, if you have any questions about the area, feel free to ask. I was born and raised here and know the area very well.