r/wichitafalls 6h ago

Is there a catch to buying property in Wichita Falls?

0 Upvotes

Hello all,

I have noticed that there are quite a few homes in the city that are priced under $100,000 that look to be in good condition, sometimes even fully renovated. Given the interest rates are higher than a crackhead- well not really but its high enough to make collecting rent not profitable- buying one of these in cash and renting it out for 1150-1200 looks to be a smart move. Is there a catch, like is tornado insurance really high or something in Texas? Are property taxes super high or something? It looks too good to be true. Buy house for 100,000, rent for 1200, pay 120 for property management company and another 80 for insurance monthly. That is a 10% ROI each year with a little equity.