Real estate investors don’t always just find properties nearby in local areas. They keep their options open to maximize the potential of finding a great deal. If you consider long distance investing, you create plenty of opportunities to find prime real
For instance, a location such as El Paso, Texas is a thriving market with awesome value for any investor. It’s affordable and has a booming outlook for career opportunities. But you don’t have to sell yourself short by missing out on gems in El Paso.
We’re here to give you reasons on why you should consider long-distance investing in El Paso, Texas.
Why El Paso?
Popular cities such as New York and San Francisco have sky-high costs of living. These two cities alone have a cost of living surpassing more than 100% of the US average. Not to mention, many other cities are following suit with rising costs in taxes,
groceries, housing, and health care. Yes, the demand for rent is high, but your entry for property ownership is even more of a challenge. Even if you find a property, you’ll likely overpay and deal with high taxes that cut into your rental profits.
Affordable Cost of Living
A city like El Paso has lots of value for investors. Just by looking at the cost of living index, you can see that El Paso is one of the best places to live. The US average score for cost of living is 100. El Paso has an overall score of 81.4 which
means it’s significantly cheaper than the average.
If we focus on the housing market alone, El Paso has a score of 56.5! The affordability of El Paso tells us that it’s an attractive market for real estate investors. The barrier for buying a home is much easier, while it also shows lots of growth
in the future with an increase in demand.
The great part about investing in a city with growing demand, means that there is lots of reward for those who own. Plenty of neighborhoods in El Paso have higher rents than the mortgage payment of owning a home. This is good news for anybody investing
in El Paso. You won’t have to worry about vacancies or high turnover rates because there’s such a demand for renting.
Long distance investing allows you to diversify your property holdings. Just like how the stock market works, investors don’t put all of their eggs in one basket. They spread their investments around so they gain exposure in all of the sectors. Real
estate is no different. Some local areas fall in value while others gain traction. A place like El Paso is in a growth state where value is going to keep increasing in the future. By investing in El Paso now as a long distance investor, you can buy
something affordable that may not be available in your local area.
More Freedom to You
There’s nothing better to a real estate investor than knowing that you have options. Attractive markets are available across the country. Even if you can’t afford something too expensive in your local area, your dollars may go far somewhere else.
El Paso is an attractive hidden gem with plenty of things to do. You can also treat your rentals like a personal vacation home in between tenants. It's a place loaded with history and culture with the Downtown Historic District nearby. The El
Paso Museum of Art is located near the Camino Hotel and Plaza Theater. Not to mention, the rich Mexican influence pours into the streets with markets just down the street from the Plaza. Whether you want to make it a personal vacation spot, do
short-term or long-term rentals, El Paso has plenty to offer.
Partner With Local Real Estate Professionals
As a long distance real estate investor, you know that you can’t be in two places at once. This challenge is easy to tackle when you partner up with local real estate professionals. Every market is unique, so working with locals gives you plenty
of insight. Work with a reputable real estate agent in El Paso so they can help you research. Start with the real estate agency, because they can steer you in the right direction as you find other trusted professionals.
El Paso real estate agents know the market well, but they also have resources for other professionals. Real estate agents know vetted property managers, contractors, and even great attorneys so you can get a jump on building a team. They know
who delivers great quality work and service. Here’s a key overview of professionals who can help you establish your investment presence in El Paso:
- Real Estate Agent
- Insurance Agent
- Property Manager
Your Team Is Crucial to Long Distance Investing
Long distance real estate investing means that you need a team. Your team is essential because they handle emergencies that may happen and keep your property in great shape. They know the ever changing markets and trends in El Paso and keep you
Our agency is structured in an effective way for long distance real estate investors. We have different teams in place ready to help you make your leap into the El Paso market. Once you secure your property, we have departments that help
you with renovations (home concierge services), listing your home for sale, and closing deals. So if you ever think about selling, we have you covered. You won’t have to think about finding more professionals in the El Paso area.