Investment properties in El Paso | FerrariChat
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Investment properties in El Paso

Discussion in 'Texas' started by FerrariFabio81, Feb 21, 2006.

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  1. FerrariFabio81

    FerrariFabio81 Karting

    May 24, 2005
    237
    Maryland
    Full Name:
    Fabio Secaira
    #1 FerrariFabio81, Feb 21, 2006
    Hey guys, I've been looking at several different areas to possibly invest in, and I just can't help but be amazed at the (IMO) undervalued real estate in El Paso and it's neighboring towns. According to an article by CNNMoney that's going to change in the near future too. In this article El Paso is shown to have had an increase in it's RE prices of around 20% last year, while still having a median home price of under $115k. In my neck of the woods we had increases of around 30%, which is great, but with median home prices of $400k it makes it impossible to purchase homes as rental properties.

    My question is: Does anybody here own investment property in El Paso? Do you manage the properties yourself or do you use a PM company? If so, are you satisfied enough to refer them? What are property taxes like in El Paso?

    Anyway, I would really appreciate any input/suggestions and tips that you might have on this subject. Below is a link to the aforementioned article:

    http://money.cnn.com/pf/features/lists/nar_3q05/index.html
     
  2. greekss

    greekss Rookie

    Jan 9, 2006
    12
    San Fran.
    Full Name:
    Constantino A.
    #2 greekss, Feb 23, 2006
    what kind of down payment do you want to put down ?

    use loopnet.com as a guide to see what properties are out there in el paso

    then use craigslist.com to get a feel for the rents out there...

    I personally havent looked at El Paso, but have looked and plan to buy in the Houston/Galveston area...

    Best of luck to you
     
  3. FerrariFabio81

    FerrariFabio81 Karting

    May 24, 2005
    237
    Maryland
    Full Name:
    Fabio Secaira
    #3 FerrariFabio81, Feb 23, 2006
    Great, thanks!

    I would be willing to put down whatever is required, up to 20% of the property value I guess. I'll check those websites out, although I've gotten an idea by searching on realtor.com.

    Thanks again, and good luck to you as well.
     
  4. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner Social Subscribed

    Dec 1, 2000
    63,960
    Southlake, TX
    Full Name:
    Rob Lay
    #4 rob lay, Feb 24, 2006
    I heard some of those border houses make returns of 2,000%, but tunnel not always included. :)
     
  5. jesusrdzc

    jesusrdzc Karting

    Jan 4, 2006
    112
    El Paso Tx/Cd Juarez
    Full Name:
    JRC
    #5 jesusrdzc, Mar 4, 2006
    I live in El Paso and well some of the info is accurate but you need to be very well informed on what area you are investing in. There are several sectors in town that have the highest growth as well as better chances of growth in the future. I my self bought some land and apartment buildings last year and have done great. Property has risen due to lots of factors but most importantly due to the coming of more soldiers to the local Army base Fort Bliss.
    If you need any help let me know, I could point you on a couple of ideas to get started with your search.
     

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