Steve Madray from Texas is a decorated military officer who, now in his civilian career, works as a real estate developer and investor. While working in construction shortly after his post-military life, Steve gained expertise in site work, project management and estimating during this time. With a knack for real estate, Steve founded Benchmark Properties and Consulting in 2018. Steve Madray not only manages his business, but also his own commercial real estate investments. In the article below Steve Madray discusses investment opportunities in the state of Texas, the booming market and local economy and why investors are flocking to the Lone Star State .

As the largest contiguous state in the United States, Texas has a lot to offer potential real estate investors, from highly urbanized properties in Houston and Dallas to untouched virgin land in the northern, central and western territories of the United States. ‘State. And, even better, Texas real estate prices are falling well below the national average, making it a prime location for potential growth, says Steve Madray of Texas.

As several large corporations relocate to the Lone Star State, land and property values ​​are expected to skyrocket over the next few years. To participate in the growth, it is better to invest now and take advantage of the state’s still affordable land. Texas’ Steve Madray takes a look at some of the most attractive markets and how investors can capitalize on Texas’ massive upside potential.

Texas remains a prime location for Raw Land

Texas may be home to some of the largest urban centers in the country, but it’s also a state with vast tracts of undeveloped land. According to the latest data from the Texas Farm Bureau, about 83% of the state is rural. Much of this rural land is located in the vast western territory of the state, an area often referred to as “West Texas”.

Steve Madray of Texas says the western part of the state is a vast region that covers almost a third of the state and is home to some of the most untouched land in Texas. This area is sparsely populated and largely undeveloped, making it the ideal location for investors looking to purchase raw land. And, best of all, land in West Texas is still relatively affordable.

The median price per acre of land in Texas is $3,725, well below the national average of $5,050 per acre. And, in some parts of the state, land can be purchased for as little as $1,200 per acre. Of course, not all of Texas is rural. The state is home to two of the largest cities in the country, Houston and Dallas, both of which offer plenty of opportunities for investors, says Steve Madray of Texas.

Steve MadrayTexasHouston’s real estate market is booming

Houston’s real estate market is hot right now. According to the latest data from the Houston Association of Realtors, the city’s housing market is up 8.0% over last year. Yet despite the interest rate boom, house prices have risen at a slower pace than the national average, suggesting greater stability and resilience in the face of rapidly rising inflation across the country.

Additionally, Steve Madray of Texas says housing prices remain well below the national average, making it a prime market for investors hoping to take advantage of Houston’s rapid development. In July 2022, the median housing price was just $320,000, about $25,000 less than the national median of $346,900. And properties are selling fast. According to data from last month, the average home sold in just 14 days, highlighting the massive demand for properties.

Investors looking to capitalize on Houston’s booming real estate market would be well advised to focus on the city’s downtown, says Steve Madray of Texas. Downtown Houston is currently undergoing widespread redevelopment as a number of former office buildings and warehouses are converted into upscale apartments and condos.

This redevelopment is bringing a new wave of residents to downtown, and as more people move into downtown Houston, property values ​​are expected to continue to rise. Considering that Houston is already the fourth largest urban center in the country, apartment values ​​could eventually rival Los Angeles and Manhattan.

Texas continues to attract industrial investors

The local economy is booming right now according to Steve Madray of Texas. The state’s unemployment rate is at an all-time high of 4%, and according to the latest data from the Texas Comptroller’s Office, the state’s economy is expected to grow 4% this year.

Steve Madray of Texas says this growth is getting a lot of attention from industrial investors. Companies such as Tesla, Oracle, Samsung, and Hewlett Packard are moving to Texas to take advantage of the state’s business-friendly environment. And, as more companies move to Texas, the need for industrial space skyrockets. The Houston area alone is expected to need an additional 15 million square feet of industrial space by 2025.

Steve Madray of Texas says investors looking to capitalize on the growing demand for industrial space would be wise to focus on the Dallas-Fort Worth area. This area is home to a number of large corporations, including Walmart, Amazon and FedEx, and as interest in the area continues to grow, the market value of available industrial space is sure to appreciate.

The essential

Texas is a prime location for real estate investors. The state offers a plethora of opportunities, from urban redevelopment projects to untouched wilderness. And, icing on the cake, Texas real estate prices are still well below the national average. For investors looking to get in on the ground floor, there’s no better time than now to invest in Texas real estate.