How to Know a Good Real Estate Deal When You See It - Alvin Apartment Case Study
With Ed Rogan, Co-Founder
One, Nolan Ryan it was the town Ryan was from. Are you familiar with the Hall of Fame pitcher from the Texas Rangers?
So that right there, had me interested. There was like a Nolan Ryan statue in the middle of town. And Houston is another one where they're huge about high school football. I mean, Alvin, Texas, it's like, it's very low key town, but they have this huge high school football stadium there. It's like literally like a Division one college football stadium.
Honestly, the reason why I loved Alvin so much was for two reasons was because, one,it was like five miles from Pearland, which was one of the fastest growing markets in Houston for high income earning, upper middle class working professionals. And number two, because it was there is no new supply that had been built in the last five years. And all of our comps were 90 plus percent occupied. So there was solid evidence of demand. And that right there, was enough for me to get behind it and say, all right, well, if the demand is here and there's no new supply coming in, then we can safely bet that we're going to be OK as long as we do the right thing.
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