HOUSTON--(BUSINESS WIRE)--As Taylor Consulting, Inc. (OTCBB: TAYO) continues its due diligence on a number of real estate acquisitions in West Texas, the region’s growth shows no signs of slowing down anytime soon. Some industry experts predict that the Permian Basin could produce as many as 3.5 million barrels of oil a day within the next decade.
Thanks to thousands of new wells being drilled in the Permian Basin and elsewhere, Texas is poised to shatter its all-time oil production record in 2014. Last month, the Dallas Business Journal reported that oil production topped 120.7 million barrels in January and February, up nearly 10 million barrels from the same period in 2013. Texas produced 34 percent of the crude oil in the U.S. last year. And many experts say that the Permian is only getting warmed up.
The surge in production has led to a massive influx of workers and residents to West Texas requiring everything from temporary housing to permanent residences, new businesses, recreation amenities and more. The continuing growth is sending home and rent prices surging in many areas.
For a company like TAYO working to break into the U.S. real estate industry, it’s a unique opportunity. TAYO plans to grow its national brand by building up its portfolio of assets in Texas, first, acquiring properties with high potential and applying multiple marketing strategies.
In addition to its traditional sports consulting business, TAYO recently created a new division—Third Avenue Development, LLC—to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
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