How to Buy Investment Property in Beaumont TX in 2024

How to Buy Investment Property in Beaumont TX in 2024

January 25, 2024

Considering Beaumont, Texas for Real Estate Investment? Here are some things you need to know.

If you’re contemplating real estate investment opportunities in Texas, Beaumont emerges as a city with unique characteristics, growth potential, and promising economic prospects. Nestled in southeast Texas, Beaumont’s charm, combined with its strategic location and affordability, presents an intriguing landscape for investors seeking both stability and potential returns.

Beaumont, known for its historical significance and cultural offerings, has experienced notable growth in recent years. With a population surpassing 118,000 residents, Beaumont is a city on the rise, offering a distinct mix of urban amenities and a more relaxed pace of life.

In this guide, we will look into:

  • Important Beaumont, Tx real estate investment market trends for 2024.

  • Hot neighborhoods and towns to look for investment opportunities.

  • Tips for finding and financing an investment property in Beaumont.

Why invest in Beaumont real estate?

When it comes to real estate investment, Beaumont presents several factors that make it an attractive choice. The city’s growing population, lower cost of living, and diverse housing options contribute to a market that holds potential for both long-term appreciation and rental income.

The affordability of real estate in Beaumont is a significant draw. Compared to many other cities, Beaumont offers a range of housing options at a more accessible price point. This affordability factor positions the city as an attractive option for a wide spectrum of investors, from those looking to start their investment journey to seasoned professionals seeking diverse opportunities.

Beaumont real estate market trends

Beaumont’s real estate market has demonstrated stability and steady growth. Home sales have seen consistent activity, reflecting the city’s appeal to a diverse range of homebuyers and renters. With a median home value lower than the national average ($183K as of December 2023) and an average rental income reflecting market demand ($995 median rent), Beaumont provides a favorable environment for investors seeking value and potential returns.

The city’s strategic location, situated near the Gulf of Mexico and the Louisiana border, contributes to its economic resilience. Industries such as petrochemicals, healthcare, and education play a significant role in Beaumont’s economy, providing a stable job market and fostering economic growth. This diverse economic landscape translates to a real estate market with a broad pool of potential tenants and buyers.

Hot neighborhoods for Beaumont investment properties

West End

Known for its upscale neighborhoods and proximity to parks and recreational areas, the West End of Beaumont offers a mix of residential properties. Investors may find opportunities in single-family homes and upscale developments catering to discerning residents.

Old Town

With its historic charm and revitalization efforts, Old Town Beaumont is becoming a hub for cultural activities and residential developments. Investors interested in preserving historic properties or participating in the city’s renewal projects may find value in this area.

North End

Offering a mix of housing options and access to local amenities, the North End of Beaumont provides opportunities for investors looking for diverse rental markets. The area’s proximity to schools and parks makes it appealing to families and individuals alike.

Beaumont, Texas, presents an attractive opportunity for real estate investment. With its expanding population, affordable housing choices, and diverse market, it sets the stage for potential returns. Whether you’re an experienced investor or venturing into your initial property investment, Beaumont’s real estate scene provides a fertile ground for financial advancement. As is crucial with any investment decision, conducting thorough research and seeking guidance from local experts is vital for making well-informed choices in this dynamic and ever-evolving market.

How to buy an investment property in Beaumont, Texas

The process for investing in Beaumont, Texas real estate can be broken into five steps:

1. Determine your investment strategy

There are many ways to build wealth with real estate. Your first step is to decide which strategy is right for you. 

Do you want a single- or multi-family home? Are you up for a fix-and-flip or a BRRRR? Or do you prefer a turnkey rental property with tenants locked in? What about a new construction project?

There are pros and cons to each real estate strategy, and before diving in headfirst, you need to determine which plan makes the most sense for you.

2. Plan your financing

Explore financing options, including conventional loans, hard money loans, or joint ventures. Understand the requirements and timelines associated with each option to make informed decisions based on your investment goals.

3. Go property hunting

Connect with local wholesalers and real estate agents specializing in Beaumont to discover off-market opportunities. Consider factors such as vacancy rates, population growth, and development projects when evaluating potential investment properties.

4. Secure financing

If time is of the essence, explore financing options that offer quick approval and closing. Whether opting for conventional loans or hard money loans, having a pre-arranged financing plan positions you for better success in your plans. At Longleaf, rental loans take as little as two weeks, and short-term residential loans (AKA bridge loans) can close in 48 hours.

5. Refinance (if necessary)

If you take out a bridge loan for fast financing, you eventually need to refinance. Bridge loans are meant to “bridge” you over from the time of purchase to the time of refinancing — usually 6 to 24 months.

You can refinance with a conventional loan if you qualify. If not, a long-term rental loan comes with fewer restrictions. 

At Longleaf, we can save you fees by bundling your bridge loan together with your refinance.

Need financing for an investment property in Beaumont?

Longleaf Lending is a Texas-based private lender and offers flexible loan programs designed for property investors who need to close as fast as possible. If you have any questions about investment property financing, give us a shout at 979-200-2823 or info@longleaflending.com.