All Forum Posts by: Ashlyn Arnold

Jesus, my wife and I have been active in Midland/Odessa for 2 years - 4 flips plus 3 SF rentals. Midland is overall nicer but discovered that we like the blue collar get-to-work vibe of Odessa. 

The Market:

If you invest in Odessa, you will be violating one big principle - Don't invest in single industry areas. If there is only one economic driver, then the region is prone to boom/bust cycles. And since the mid-1970's, that is exactly what has happened in Midland/Odessa. Energy industry gets hot and then it gets cold. HOWEVER, my non-expert read is that we have 5-15 years of good times in west Texas. The oil fields and pipelines and refineries have the extraction and distribution capacity to deliver products (oil and natural gas) that are and will continue to be in demand. And ground is broken for a new refinery west of Odessa. Even though a ton of rental units and new SF have been added in the last two years, there is demand for more, especially on the lower end of the market. We will bring another rental online in a few weeks and will likely add more.

NOTE: You can get a really good deal on older pre-1960 properties, but be very careful. The minerals in the water eat up galvanized supply line and cast iron waste lines, so units with copper and plastic will avoid a lot of expensive repairs.  And make sure you are have confident in you insurance company - hail storms are a real thing.  

Rich

Hi Michael,

We are working in Midland/Odessa (flips and rentals). We are happy with our property manager, Tanner House. For us, Tanner has the right mix of professionalism, competence, attention to detail, and ability to work with tenants. Tanner can be reached at 575-390-2979.