Does anyone know or have any insight to how the rental market is in Freeport, Tx? I am looking to connect with a property manager that works in that area.
It seems like that would be a pretty good rental market with the older houses and the chemical plant right there. I don't have any numbers to back it up but it seems like there would be a demand for rent homes and a pretty good ROI for that price point.
@Brendan Flannery I have two clients that buy rentals in Freeport, Lake Jackson, and Brazoria. They love it because they can pick up cheap properties, and if you aren't married to the idea of a 1 year lease, you can get some really quality tenants that are in town for 3-6 months working on projects and the plants and refineries that are getting paid per-diem.
The Port of Freeport and the community is all in for deepening, and expanding the port. Billions in commitments from DOW, BASF, Freeport LNG, Tenaris, and more. This is a long term play that will reward investors for as long as they invest in the area.
Keep in mind that the local rankings in order of desirability, as harsh as it may be, are as follows (sorry locals, I grew up in Brazoria): 1) Lake Jackson and immediate surrounding area (Clute not viewed favorably by long time locals) 2) Angleton area 3) Brazoria 4) West Columbia 5) Sweeny 7) Surfside and Freeport maybe tied. These rankings are the perception of the locals and have no bearing on the job growth/short term workers who are there short term and what they perceive.
Know that many Counties are backing the Port of Freeport, and the development of Tx HWY 36A. There are only two state highways that connect to the port. TX Hwy 288 and TX Hwy 36.
If preparing short term, worst case, consider investing in property that may be leased to locals long term when the refineries go on hiatus.