Rental Property Investor · Dunlap, TN · Member since 2016 · 8 posts · 7 votes
Hey just wanted to start up this newest sub-forum on Bigger Pockets with an intro post about where RE investors, like us, should look to in the Rio Grande Valley.
I just recently moved to the valley about a year ago and I apparently missed the explosion of growth in Edinburg that seems to have coincided with the formation of the UTRGV system. Is there still an opportunity to invest in Edinburg and expect high appreciation over the next few years or have we missed that train?
Also, every morning when I listen to the AM talk radio station, the host constantly has guests on who are associated with the Port of Brownsville and mentions that the valley's future is in Brownsville. They have the construction of the new LNG plant scheduled to start, and I believe an Arkansas based steel company is going to invest in the port as well, and I am sure many other ventures are going on there too. Is Brownsville the next area to take off in the RGV?
Any other comments on the valley's future growth prospects?
What type of property are you looking for? Brownsville is definitely cheaper than McAllen, but not sure I'd bank on it seeing the same kind of growth we've seen in the upper valley recently.
What type of property are you looking for? Brownsville is definitely cheaper than McAllen, but not sure I'd bank on it seeing the same kind of growth we've seen in the upper valley recently.
@Damon Reed I'd say it has definite potential. My family lives in Brownsville and there is plenty happening in the area in terms of new development and business. I guess that goes for a lot of places in the valley but LNG will definitely give the area a nice bump. Edinburg is still ripe in my opinion. Plenty of growth along 281 and the north side of Edinburg. New housing developments, new shopping areas; it will be less costly to shop and less expensive for new businesses to open given some of the businesses coming to the area. Bottom line: there will not be a slow down in Edinburg, especially on the north side of town.
I work in oil and gas. I’d say invest in any land that has water. Water sells for $1.50 /bbl own there. Go for any land that has ponds or access to the river. You can make your money back on one sale of frac water
Thanks for the advice. I am generally looking for single-family units. Although duplexes, triplexes, and fourplexes I do keep an eye out for if the price is right. I currently own a fourplex and a duplex.
Fourplexes in the McAllen area are through the roof right now, plus there are new ones being built on almost every available piece of ground. It's crazy. The only places I don't see fourplexes being built is where they are building 100+ unit complexes.
Anecdotally, when I drive around Brownsville I can't find any construction whatsoever. Maybe I'm just in the wrong place, but it's not that big of a town. I suppose that doesn't mean they won't expand in the future though. There is a lot of opposition to the LPG infrastructure, but I suppose they are used to fighting against that. The Port of Brownsville is outside of town toward South Padre Island. If those jobs pay anything at all and the workers are from out of the area, they will likely much prefer to live in the SPI/Port Isabel area. I just don't see Brownsville having much to offer right now.
So what is anybody's take on Starr County? Is that area cheap right now? Especially around Rio Grande City. As Mission expands westward, will that make the RGC more lucrative or is that area still a couple of decades away from true growth?
Greetings Damon and others who may read this. A little off topic question that I have. I am curious if anyone here is experiencing any hard to fill vacancies or issues regarding eviction moratorium. I currently am siting on 3 vacancies but not because I don't have applicants; on the contrary, I am inundated with inquiries. I am not in a rush to fill them only because I am very concerned about the moratorium. Perhaps I am being overly cautious but very concerned. Are any of you seeing this or can shed some light on why the increase in demand for rental units is taking place? Precovid I would generally see on average 10 -15 inquiries, now I'm being bombarded which makes it a little difficult to get to all the inquiries. Any comments or feedback is greatly appreciated. Thanks
@Damon Reed i would stay clear of Starr County. My opinion only; however Rio Grande City is growing a lot. They have a Chili's, Walmart, HEB, STC campus and they are currently developing commercial property just north of the Walmart.
I am new to the whole idea of Real estate and wanted to know if anyone has any idea where the local REA’s are being help. Trying to network and learn as much as possible hopefully with a way to offer some value to someone along the way.
Does anyone know any reputable property managers that manage properties in Hidalgo county? I've been looking at a few small multi family properties in the area that look like they can give decent returns. On a side note, is anyone concerned that the area is getting saturated with a ton of small multi family inventory? It seems like the building will not stop anytime soon. I'm just not sure the population growth will be able to absorb all of the new inventory.
I do have the same concern. Everywhere I see, tons of 4plexes. I was reading an article how the vacancy rates on those were higher than average a few years ago and that was before the recent building boom last couple of yrs. Population is not growing as fast anymore compared to the last few decades by quite a bit.
Hello, I was down in south padre island this past Monday and a friend mentioned that Brownsville will blow up soon due to some billionaires looking into building factories and what not around the area. Supposedly the city will be doing major improvements to bring in the people/market/economy up. Not from there and I’ve not made my research yet, but what if it’s true?
Hi Linda, what that is in reference to is a tweet Elon Musk sent on March 30th about encouraging engineers, technicians, builders, etc to move down to the Brownsville/South Padre area because they are in large need of those professionals to build his rapidly growing SpaceX operations at the mouth of the Rio Grande at Boca Chica, which he wants to call Starbase. There is a lot of buzz right now about that and I am very hopeful that this does turn into a major space operation like Cape Canaveral. They did have a successful space shuttle launch and touchdown yesterday so that might be some more buzz you are hearing. However, even if this ends up just being a lot of buzz, the Port of Brownsville is really growing with the Liquid Natural Gas and Steel industries.