Mom-and-pop investors who buy properties in this North Texas prairie region and rent them out are seeing double-digit returns on their investments, according to a report from RealtyTrac.
Much of the economy relies on oil production and farming. Homes are cheap and rents -- at a median of $940 a month -- are pretty lucrative.
The nearby Sheppard Air Force Base helps. It not only accounts for 20% to 25% of the area's economic activity, but supplies a steady stream of renters. "Many of the service members know that they're only going to stay three or four years and they choose to rent," said Danny Steed, a local real estate broker.
A good example of the homes in the area is this nearly 1,700 square-foot brick home in Wichita Falls, which was recently listed for just $89,900.
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